Survey Finds Majority of Companies Experiencing Recruiting Challenges
Twenty-three per cent of Canadian chief financial officers (CFOs) report their companies will be creating new jobs in the next six months, according to the Canadian Professional Employment Forecast from Robert Half. Fifty-five per cent of finance executives said they will be maintaining personnel levels, adding staff only to fill vacated positions. Fifteen per cent of respondents will not be hiring, even to fill an open position, and five per cent plan to reduce staff levels.
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 are based on interviews with 270 CFOs from a stratified random sample of Canadian companies. Executives were asked about their hiring and business outlook, including plans to add professional-level employees, for example, staff in the accounting, human resources, administrative, legal, marketing and information technology fields.
CFOs were asked, "What are your company's hiring plans for full-time professional-level employees in the next six months?" Their responses:
Expanding – adding new positions
23%
Maintaining – only filling vacated positions
55%
Freezing – not filling vacated positions or
creating new ones
15%
Reducing – eliminating positions
5%
Don't know/no answer
1%
99%*
*Responses do not total 100 percent due to rounding.
"Executives have a positive outlook for their companies' growth prospects and are looking to expand their teams," said Greg Scileppi, president of Robert Half, International Staffing Operations. "Demand for professional-level candidates is expected to continue outpacing the supply for talent, however, as challenges filling positions with applicants who possess the necessary skills persist."
Scileppi noted that as a result of the increased demand for talent, companies need to look at more creative ways of attracting candidates. "Every day we see organizations reviewing their overall hiring strategies, including compensation and working arrangements, to ensure they remain competitive."
Recruiting Challenges
The survey results suggest organizations looking to expand and add staff may face difficulties. The majority of CFOs surveyed, 55 per cent, said it is at least somewhat challenging to find skilled candidates for professional-level positions today.
Business Confidence
Executives are optimistic about their business prospects. More than eight in 10 (86 per cent) CFOs expressed confidence in their company's growth potential for the next six months, with 42 per cent of respondents saying they are very confident.
Spotlight on Salary Negotiations
In another sign the job market is heating up, many employers appear to be negotiating more frequently with top job candidates. Thirty-three per cent of respondents said they're more willing to negotiate salaries than they were 12 months ago, compared to just 10 per cent who are less willing.
