CFOs optimistic about economy in 2012

7 Feb 2012, 7:33 am   -   Source: AAP
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Finance directors are optimistic about growth and the Australian economy in 2012 despite the gloomy global backdrop, a new survey has found.

Finance directors are optimistic about their companies' prospects and the national economy in 2012 despite the gloomy global outlook, new research shows.

About 82 per cent of 300 chief financial officers and finance directors in Australia surveyed by a specialist finance and accounting recruitment firm, Robert Half, said they were confident about their growth prospects.

More than 77 per cent of directors said they were optimistic about Australia's growth prospects.

Robert Half director Andrew Brushfield said this confidence resulted in a net 32 per cent of finance decision makers saying they planned to hire finance and accounting staff in the first half of 2012.

"It just goes to show that even in times of wider economic uncertainty, there are still opportunities for talented candidates," he said in a statement on Tuesday.

The survey found 40 per cent of CFOs and finance directors planned to keep finance and accounting staff unchanged during the first half of the year, while 12 per cent said they were likely to cut workers.

Mr Brushfield said as a third of companies were actively hiring, that meant that CFOs needed to make sure they didn't lose existing staff to competitors or miss out on top talent.

Of companies that said they were planning to hire, 43 per cent said business growth was the main factor and 34 per cent noted rising workloads.

Of those businesses planning to cut finance and staff, 22 per cent said it was due to the slowing economy, the same number cited cost management and another 22 per cent specified business process improvements.

The survey was conducted from December 10 to January 10.

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