A majority of the CFOs surveyed report that their companies have been in contract talks with a labor union and that the key issue in the negotiations is wage increases. Labor clearly bargains from a stronger position now than in 1995. A whopping 84 percent of CFOs say it is more difficult now than it was five years ago to fill entry-level jobs with qualified candidates. Less than 2 percent are having an easier time filling such jobs. Overall, a majority of companies are unsatisfied with their ability to find capable people for entry-level positions.
Unions appear to be getting results.
Wages are up nearly across the board. Almost 56 percent of CFOs report an increase in wages of 1 to 5 percent compared with two years ago, while more than 41 percent say wages are up more than 5 percent. Only 3 percent say wages at their company have declined during the past two years. The results of CFO Forum are based on quarterly surveys of a universe of 1,600 chief financial officers.