Companies throughout the San Francisco Bay Area need to understand how the local economy is faring – including the hiring outlook – in order to find and keep the talent they need to thrive in their own markets.
A recent survey of chief financial officers (CFOs) in the Bay Area found that most CFOs are optimistic about their business prospects for the close of the calendar year and for the beginning of 2014. According to the San Francisco Bay Area Professional Employment Forecast from Robert Half, most CFOs expect growth in the coming months – but more and more are finding it difficult to recruit the top talent they need for maximum growth.
How does this news translate to hiring? Consider the following trends:
- Eight percent of Bay Area CFOs surveyed said they expect to add one or more professional-level positions to their organizations before 2013 ends. These are positions that do not currently exist within their organizations. Another 71 percent planned to hire new staff to fill any openings in their organizations that occur during the next three months.
- By contrast, 15 percent of CFOs said they will not hire even if a position becomes open. Another 5 percent planned to go even further, cutting already-employed staff before the end of the year.
- Despite plans to hire or to expand professional positions, CFOs are concerned about finding the people they need. In response to the survey, 65 percent of CFOs said that it is challenging to find top candidates in the Bay Area for these positions.
- CFOs feel more confident about growth than they do about hiring or creating new positions. In response to the survey, 89 percent expressed confidence in their companies’ continued forward momentum, while 38 percent were “very confident.”
Hiring is a complex process no matter the market outlook or trends. Companies must wade through large pools of candidates in order to find the talent they need. Without a plan in place, this process can make looking for the proverbial needle in the haystack seems simple.
Want to streamline the hiring process while also finding the talent you need? Consider working with an experienced recruiter who knows the hiring outlook in your area. At ABA Search & Staffing, our experienced recruiters can help you find the talent you need and make more effective hiring decisions. Contact us today to learn more.