Last Update: March 19 @ 7:09 PM
Economy
2% of local CFOs anticipate 3Q hiring


PROVIDENCE – Two percent of chief financial officers across Rhode Island expect to add staff in the third quarter of this year, and 1 percent plan to hire accounting and finance professionals, according to a new report from Robert Half International. Only 1 percent of local CFOs expect to cut their staff in the third quarter.

Those results from the Robert Half Financial Index, released yesterday, are based on responses from 100 CFOs across Rhode Island and 1,400 nationwide, “from a stratified random sample of companies … with 20 or more employees,” the report said. The survey was conducted for Robert Half by an independent research firm.

In New England, 7 percent of CFOs expect to hire staff in the third quarter, the same share as expect to trim staff.

Nationwide, 6 percent of CFOs expect to add accounting and finance professionals in the third quarter while 3 percent predict cutbacks and 90 percent expect no change in staffing levels. Optimism was highest in the construction and manufacturing sectors.

In Rhode Island, manufacturing and financial services are strong, Luke Howarth, regional manager for Robert Half’s Providence office, said in a telephone interview with Providence Business News.

“It’s really not a layoff kind of economy right now,” he said. “I really think most companies, most industries, are hiring.”

Senior staff accountants, general accountants, “anybody with a CPA or MBA is somebody we see a tremendous amount of demand for,” Howarth said. “We see a lot of growth in financial services, especially with the relocations” to the Rhode Island area of Fidelity Financial Services and other employers.

On the employee front, too, “we’re seeing a lot of relocation,” he said.

“The current hiring environment is strong,” Howarth said. “I see a lot of upside in the Rhode Island market and the New England market overall.”

Employers “have become more strategic in their hiring efforts,” Harold M. “Max” Messmer Jr., Robert Half’s chairman and CEO, said in a statement, “and are looking for individuals who combine strong technical expertise with outstanding communication skills.”

Asked what those candidates want, Howarth said, “Health care, always. … But we also see a lot of interest in quality of life.”

Today’s professionals aren’t just looking for benefits, he said, they are looking for flexible hours, vacation time, a good work environment. Many employers have picked up on the trend, “offering a good work-life balance and offering a lot of opportunities for people to advance in their career,” Howarth said.

Added Messmer: “Firms must find ways to differentiate themselves – from providing higher compensation and better benefits to enhancing the work environment – to attract top performers.”

“From a growth standpoint,” Howarth said, “we see a lot of growth in financial services [in Rhode Island], especially with the relocations” of Fidelity and other companies to the state. Senior staff accountants, general accountants, “anybody with a CPA or MSA is somebody we see a lot of demand for,” he said.

On the employee front, too, “we’re seeing a lot of relocation.”

“The current hiring environment is strong,” Howarth said. “I see a lot of upside in the Rhode Island market and the New England market.”

Robert Half International (NYSE: RHI), founded in 1948, provides accounting, finance and information technology staffing services through its Web site and more than 350 offices around the world. Its financial staffing divisions include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources. To learn more, visit www.rhi.com.

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