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Half of CFOs Looking to Expand Their Finance Teams

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Senior executives across UK businesses are planning to increase staffing levels in the second half of 2015, with CFOs and the financial sector in particular going on hiring sprees.

Half of CFOs intend to expand their teams in the next six months, according to the latest Professional Hiring Index from Robert Half UK. That’s up from the 45% of finance directors who planned similar hiring drives last year and from the just 28% who were recruiting in 2013, suggesting the economy has finally stabilised following the recession and companies are anticipating growth.

The semi-annual survey found that 47% of senior executives across all sectors of the economy are planning to create jobs this year. But growth will be particularly strong in the fast-recovering financial services sector, where more than half (54%) of C-suite executives report they will be recruiting for new jobs.

Across industries, executives are pushing hiring to support anticipated growth, with 88% of business leaders expecting to grow in the upcoming year. 52% of companies reported hiring to resource new projects and initiatives, 44% cited product or service expansion and 43% pointed to domestic business expansions.

Phil Sheridan, Senior Managing Director at Robert Half UK said: “All of the indicators across the index demonstrate that senior executives are hiring for growth. Despite recent news of restructuring in some areas of the financial services industry, confidence levels amongst senior executives is high and momentum will continue to build.”

However, companies are still struggling to find the right candidates to fill these roles, especially in the financial services sector. 92% of finance leaders say it is “very” or “somewhat” challenging to find the required talent and 87% worry about losing top performers to competitors next year.

Sheridan encouraged candidates to have “strong commercial acumen and commercial skills” and companies to hire quickly, to beat competitors to the punch. “Financial professionals on the market today are often receiving multiple offers,” he said.

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