Recruiter sees hope for finance professionals

Mar 08, 2009 (The Charlotte Observer - McClatchy-Tribune Information Services via COMTEX) -- RHI | Quote | Chart | News | PowerRating -- As a manager of a local recruiting team, Michael Steinitz is upbeat about the job market for finance professionals these days -- this despite looming layoffs among the city's big banks.

A district president with staffing firm Robert Half International, Steinitz talks with chief financial officers quarterly to see if they're hiring and why.

Yes, the current job market is tough for job seekers, he says.

But he sees growing demand for those good with numbers and possessing strong analytical skills, a belief buoyed by survey results released last week by his California-based firm, which has more than 360 offices worldwide. The Charlotte office, where Steinitz is based, employs around 50 workers. According to Robert Half, Charlotte chief financial officers plan to increase hiring during the second quarter.

Perhaps more noteworthy, the move into positive territory -- a net 1 percent of those surveyed said they plan to hire workers -- is a marked improvement over what local CFOs said they expected to do in December.

Three months ago, 9 percent of CFOs surveyed told the staffing company they expected to downsize personnel while 3 percent said they expected to hire employees. The firm interviewed 200 local CFOs from companies with 20 or more employees for both surveys.

"It's not a huge increase in hiring, but it's an increase," Steinitz says. "Companies want people with really good analytical skills to analyze financials because they're obviously looking closely at budgets and understanding numbers is really important now."

Robert Half has been tracking financial hiring activity in the United States since 1992.

Some of the area's hotter sectors include nonprofits and energy companies, Steinitz says. Now, he added, is a great time to hone one's analytical skills. Steinitz believes demand for accountants in particular is poised to grow because of the current mortgage mess.

Job seekers be wary, however. Recruiters know there is an abundance of talent looking for a break, he says. That means job seekers must watch every detail. A single typo on a resume can get one knocked out of the running.

Here's some of what he's learned talking with regional employers.

Q. What positions are companies looking to fill?

Companies are looking to hire senior staff accountants and people working in credit and collections. Companies want to make sure they're getting their cash in. Mortgage-related positions are heating up big time now, with interest rates low and all the money the government has pumped in.

Q. Why are companies hiring now?

I think at the beginning of the year there was so much bad news with the banks that everything got put on hold. I think companies were getting over a shock in the beginning of the year. They were waiting for a new administration, for a new year. Once we got through all that, a lot of companies that did downsize realized they may be too lean.

Q. How does Charlotte compare with the rest of the country?

The rest of the country showed a net 2 percent decline in CFO outlook, while CFOs in Charlotte reported a net 1 percent increase.

Q. Why did we fare better?

Outside of the banks, where a lot of the bad news happened, there is a wide span of industry. I think a lot of the bad numbers were being driven down by the banks, and after we got through the initial shock of that, companies began seeing it's a good time to upgrade their talent.

Q. What should job seekers be doing?

Always go out of the way to show how valuable you are to an employer by asking for more things to do.

Network like crazy. Pay attention to details. There's lots of competition and employers know it. You've got to be careful with how you're publicly being viewed, like having a cutesy e-mail address, or being on Facebook in a way that can denigrate your name.

Q. How do you think the job scene will change, given the banks are expected to lay off thousands in the near future? Isn't the job outlook for finance types about to become bleak?

It's hard to say. The good news is outside of the two big banks, there is a good spectrum of industry.

From what we've seen, I feel like it's been worse. Hopefully (the latest survey findings) are a sign that things are going to get better.

Q. You're bullish on accounting. Why do you think demand will grow for those professionals?

I think more and more regulation is going to be coming out. Largely as a result of, first, Enron, and now this banking stuff. I think (general accounting) is going to be a field that will be growing big time.

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