Phoenix CFOs Report Fourth-Quarter Hiring Plans

Survey Finds Majority of Companies Optimistic About Business Growth During Quarter

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Sep 16, 2013, 11:00 ET

PHOENIX, Sept. 16, 2013 /PRNewswire/ -- Fourteen percent of chief financial officers (CFOs) in the Phoenix area expect to add new professional-level positions in the fourth quarter, according to the Phoenix Professional Employment Forecast from Robert Half. Fifteen percent of respondents will not be hiring, even to fill an open position, and 4 percent plan to reduce staff levels. Another 66 percent said they will hire for roles that open during the next three months.

Most executives are optimistic about their business prospects for the fourth quarter. Nearly nine in 10 (89 percent) CFOs expressed confidence in their companies' growth potential for the quarter, with 44 percent of respondents saying they are very confident.

The survey suggests, however, that organizations looking to expand and add staff may face difficulties. The majority of CFOs surveyed, 61 percent, said it is at least somewhat challenging to find skilled candidates for professional-level positions today.

"Many companies are realizing they need to bring in additional support for increased workloads or risk losing tenured staff who may feel overburdened and look for new opportunities elsewhere," said Brett Good, senior district president for Robert Half in Phoenix. "Companies are working with staff accountants, senior accountants and administrative support professionals on both a project and temporary-to-full-time basis as 2013 comes to a close and they begin planning for the year ahead."

The Professional Employment Forecast was developed by Robert Half, the world's first and largest specialized staffing firm, and conducted by an independent research firm. The local results reflect a two-quarter rolling average based on interviews with 200 CFOs from a stratified random sample of companies in the Phoenix area with 20 or more employees.

CFOs were asked, "What are your company's hiring plans for full-time professional-level employees in the fourth quarter?" Their responses:

	Fourth Quarter	Third Quarter
Expanding – adding new positions	14%	19%
Maintaining – only filling vacated positions	66%	63%
Freezing – not filling vacated positions or creating new ones	15%	12%
Reducing – eliminating positions	4%	6%
Don't know/no answer	2%	0%
	101%*	100%

*Responses do not total 100 percent due to rounding.