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Chief financial officers are doing more with less by retaining their current talent and potentially delaying hiring, according to the quarterly CFO Outlook Survey conducted by Financial Executives International and Baruch College’s Zicklin School of Business. CFOs, especially in the U.S., continue to remain uncertain about the future of the economy and their business, as well as the expectation of a recovery, the survey found.
The survey found 58 percent of U.S. CFOs plan to hire additional staff in the next six months, while 35 percent have no plans to hire. Of those who are hiring, 54 percent are primarily seeking mid-career professionals and 44 percent seek experienced and skilled technical workers. Sixty-nine percent of CFOs in the U.S. have not been forced to reduce headcount over the past 12 months.
The third quarter CFO optimism index for the global economy was 44.2 for U.S. CFOs compared with 44.1 in the second quarter. However, U.S. CFO’s optimism toward the U.S. economy dipped four points to 51.6 in the current quarter from 55.4 in Q2. U.S. CFOs' optimism towards the financial prospects for their company also sunk five points from the previous quarter’s 67.8 to 62.7, its lowest mark in more than two years.