Despite lagging unemployment numbers, many in the business world are still somewhat optimistic that a sluggish economy is on the verge of improvement, according to a recent survey of second quarter CFO attitudes by GE Capital.
Although CFOs expressed concerns over business costs, it appears as though these worries peaked last quarter. The number of CFOs planning to hire workers increased six basis points to 74 percent, while 81 percent now expect their profits to stabilize or improve – eight points higher than the first quarter.
“Mid-market CFOs are more optimistic than six months ago, despite the European fiscal crisis and inconsistent job growth,” GE Capital Americas president and CEO Dan Henson said in a press release. “A larger majority sees top-line growth and stable or better profits this year, and more will be hiring. These companies have access to affordable capital, which in 2012 is most likely to be targeted for investment to finance growth and to purchase equipment.”
Despite optimism on the mid-market side – businesses with an average annual revenue of $143 million – small business executives experienced a drop in optimism last month. Last week, the National Federation of Small Business released its March small business optimism index, which determined that positive business sentiment fell from 94.3 in February to 92.5 in March. Contained within this drop is a leveling off of feeling regarding hiring, which had increased for six consecutive months.
As CFOs continue to plan for the rest of this year, those who have the means to hire new employees should turn to headhunting firms with experience identifying talented financial professionals. Whether recruiting for auditing positions or filling accounting, tax and corporate vacancies, a professional recruitment firm can expand the pool of qualified candidates and expedite the process.
