Canadian companies planning to hire sales, marketing teams, report finds

The number of job openings for sales and marketing staff is likely to jump this year as companies begin to use some of their cash piles to resume hiring and grow their businesses, according to new reports.

About 58% of respondents to the latest American Express/CFO Research Global Business & Spending Monitor said they planned to take on sales staff, while 44% plan to boost their marketing headcount.

In total, 78% said they would use retained cash to expand their business and increase staffing numbers this year.

A separate RBC/Canadian Institute of Chartered Accountants survey also found hiring intentions are on the rise, with 47% of chartered accountants polled expecting their companies to boost staff numbers.

Optimism among the nation's CAs has risen to 64%, a near record level, from 41% at the end of last year, the survey found.

"Finance executives are opening up the company coffers to drive growth and are moving away from budget cuts," said Rob McClean, vice president and general manager, Global Commercial Card, Amex Bank of Canada. "Businesses are exercising caution but we will see greater spending to win and retain customers as they jockey for position in a recovering economy."

The situation in Canada contrasts with that south of the border, where many U.S. companies are still focusing on improving profits through cost cutting, the Amex survey found.

More than three-quarters of Canadian executives said they expect economic growth to accelerate in the second or third quarter of this year, compared with just 38% of U.S. executives who see faster growth during this time.

As well as spending on headcount, 75% of executives said they will boost investment in research and development, with 74% planning to increase capital spending, it said.

The RBC/CICA survey found that 73% of executives expect their revenues to rise over the next year, while 69% see profit growing.

"These latest results reinforce the fact that Canadian companies are ready to seize opportunities for future growth and investments," said Christianne Paris, vice-president of business and client strategy at RBC.