CPA Resources
CPA Resources

Hiring is top post-recession priority for execs

MENLO PARK, Calif., Oct. 2, 2009 -- A recent survey suggests hiring new workers will be the top priority for many employers as the economy improves.

When asked where they most likely will boost spending when the recovery occurs, nearly one in three senior executives (31 percent) said he or she plans to hire additional staff. Twenty-one percent of respondents plan to give their teams raises.

The survey was developed by Robert Half Finance and Accounting. It was conducted by an independent research firm and is based on telephone interviews with 150 senior executives from the nation’s 1,000 largest companies.

Executives were asked, “In which one of the following areas are you most likely to increase spending when the economy improves?” Their responses:

  • Hiring additional staff: 31 percent
  • Increasing salaries for current employees: 21 percent
  • Increasing or reinstituting bonuses: 15 percent
  • Investing more in employee training: 9 percent
  • Enhancing employee benefits: 5 percent
  • Other: 1 percent
  • None, will not increase spending: 16 percent
  • Don’t know/no answer: 2 percent

“Improving business conditions will result in demand for skilled professionals to assist with initiatives that were placed on hold during the recession,” said Max Messmer, chairman and CEO of Robert Half International. “Companies that made deep personnel cuts will need to rebuild their teams to capitalize on future opportunities.”

Messmer pointed out that employers also should invest in their existing workforce to reduce the chance of losing top performers.

“Managers need to reward those team members who shouldered the burden during tough times,” he said. “If financial incentives are not an option, firms should look for other ways to recognize staff, such as providing flexible work schedules or granting additional vacation days.”

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