Three Times As Many Canadian Execs Predict Financial Hires Next Quarter
Over three times as many C-suite executives and HR professionals in Canada's financial services sector anticipate hiring increases in the third quarter of this year as did for the second quarter, says new research by recruiter Robert Half.
Just eight percent of finance, insurance and real estate industry executives expected to ramp up hiring in the second quarter of 2011, as compared to a respectable 27% who predict new hiring for the third quarter, says Robert Half's Third Quarter Professional Employment Report for Canada.
No financial professionals surveyed anticipated decreased hiring for the current and upcoming quarters.
The change reflects a general pickup in the Canadian economy, with real estate values now "going through the roof," an unemployment rate that is declining, and with Canadian banks continuing to acquire aggressively, observes Ashleigh Demulder, vice president with Robert Half Western Canada in Calgary.
Specifically, financial analysts and accounting managers are in high demand at Canadian companies.
Accounting pros able to prepare of financial statements and with experience overseeing accounts payable have of the best chances of being hired in the coming quarter, the Robert Half report states.
Other sought- after financial professionals includes payment administrators able to deal with payroll advancements to employees and internal auditors able to deal with risk assessments and with fraud detection and prevention, according to the survey.
The latest report is based on telephone interviews in April, with more than 1,000 C-level executives and other leaders Canadian leaders. Survey respondents included more than 270 chief financial officers, 270 chief information officers, 150 senior human resources managers; 75 lawyers at law firms and 75 corporate lawyers; and 50 advertising executives and 200 marketing executives. All of those interviewed have hiring authority.
New grads must hone skills
Despite the encouraging job news, Demulder recommends that new graduates proceed with caution.
Rrecruiting challenges continue, as some 46% of financial executives surveyed reported difficulty finding skilled applicants.
Many Canadians graduated only four to six weeks ago, Demulder observes, and those fresh out of school often will not have the specialized experience employers demand.
Demulder recommends that new grads do all they can to beef up their skills, including looking for internships, volunteering opportunities, and temporary work assignments.
New grads need to take advantage of professional organizations for leads, and be careful about what is posted on their Linked In and Facebook sites to be sure they're maintaining "a professional presence," the recruiting executive observes.
