Sales, marketing jobs to rise as companies seek growth

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, a new report found.

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.

"Finance executives are opening up the company coffers to drive growth and are moving away from budget cuts," said Rob McClean, vice president & 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, it 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.

CFO Research Services surveyed 665 senior finance executives at large global companies across a wide range of industries in the United States, Canada, Latin America, Europe, Asia, and Australia. Company revenues ranged from $500 million to more than $20 billion.

The research program, which included an online survey and interviews with senior finance executives, was completed in April 2011.