37% of UAE CFOs to expand units: Study

Nearly four in 10, or 37 per cent, of chief financial officers, or CFOs, in the UAE will be expanding their finance departments in the second half of 2013 compared to 35 per cent in the first six months, a new research from financial recruiter specialist Robert Half UAE reveals.

By Staff Report

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Published: Tue 16 Jul 2013, 1:11 PM

Last updated: Tue 7 Apr 2015, 8:00 PM

A further 15 per cent will be maintaining existing headcount levels and only four per cent will be eliminating positions. Forty-four per cent of companies will be freezing hiring — not filling vacating positions nor creating new ones — which is up from 12 per cent six months ago.

Based on a survey of 75 CFOs and finance directors, the Robert Half Financial Hiring Index finds that Dubai-based financial leaders are most bullish about their hiring plans with more than half (53 per cent) anticipating the expansion of their finance teams compared to 22 per cent in Abu Dhabi.

When asked what initiatives were driving hiring, more than six in 10 (64 per cent) CFOs cited new projects and initiatives, followed by product or service expansion (57 per cent). One in three (32 per cent) will be entering new markets and 29 per cent claim that business growth or expansion in both international and domestic markets, respectively, was prompting additional permanent hiring within the finance and accounting function.

business@khaleejtimes.com



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