Canadian Finance & Accounting Execs Are Bullish On Fourth-Quarter Hiring

Asked about their hiring plans for the fourth quarter of this year, a net 29 per cent of Canadian executives in the finance, insurance and real estate sector said they anticipate staff additions. The retail industry ranked second, with a net 24 per cent of executives expecting to hire in the next three months, says recruiter Robert Half International.

"Fourth-quarter hiring projections were higher than the third-quarter forecast in nearly all professional segments," Robert Half said when it released the new survey results. Meanwhile, 48 per cent of executives interviewed for the report said it remains challenging to find skilled professionals today, unchanged from the third quarter.

Among those interviewed by the staffing firm were more than 270 chief financial officers, 270 chief information officers, and 150 senior human resources managers in finance, accounting, and real estate.

The figure for financial executives was up slightly from June 2011, when a net 27% of high-level Canadian executives in finance anticipated staff increases, according to Robert Half's research. In the third quarter, executives within the manufacturing industry were slightly more optimistic than their colleagues in the finance, insurance, and real estate sector, with a net 28% anticipating new hiring. And one year ago, just 18% of executives in the finance, insurance, and real estate sector anticipated staff additions for the fourth Quarter of 2010.

Asked whether they feel year-end bonuses will fare this year, most finance executives-56%-believe there will be no change from last year.

Also interviewed for the latest survey were accounting and finance professionals themselves. A total 13% of them are expecting hiring to increase in the next quarter, while 5% are predicting cutbacks in staffing. The net 8% increase they anticipate is unchanged from the third quarter and up from a year ago when a net 2% anticipated more hiring.

Why the optimism in financial services now? Mike Gooley, regional Vice president Robert Half Canada, Inc., points to profitable quarters for most of the banks, in addition to low interest rates impacting the real estate business and bank mortgage sales and "everything related to that," including insurance related to mortgages, and very good results in retail banking in particular.

Positions in top demand, according to the report include:

· Controllers and assistant controllers needed to oversee regulatory reporting and interact with auditors,

· Business systems analysts able to combine IT and financial expertise; and

· Accounting managers able to perform account analyses and maintain the general ledger; and

· Payroll administrators who can establish policy on advancements to employees.