You may have a bookkeeper, accountant, or financial advisor on your team right now. Each role is essential for smooth everyday operations and brings something different. Now, picture a person at the top who is in charge of your company's finances and cash flow. This is your full-time chief financial officer(CFO).
More specifically, a cfo recruitment agencies helps you stay on top of your finances by keeping an eye on issues with accounts receivable, pricing strategies, and financial planning. CFOs also help you keep track of investment opportunities that fit your financial strategy. This can include both traditional investments and things your business needs to run.
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Here are five things to do beforehand and during the CFO recruitment process to ensure you hire the right person.
1. Check your private network.
There are a lot of job boards and hiring networks (we'll talk more about this in a minute). Still, you should check with your professional network first. Look through your social connections and see if you know anyone who is a CFO or has experience with money. LinkedIn is an excellent place to start because it lets you connect with people you already know and find new people with professional expertise. Don't be afraid to reach out to people you've met at professional meet-ups and other similar events, either online or in person, to talk about potential CFO contacts they may know.
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2. Follow news on takeovers.
Set up a Google Alert for your field with terms like "acquisition" or "company sale" to see if any local businesses are being bought out. If a local company buys or sells another, there's a good chance that the CFO is now looking for a new job.
Once you've found a company that's being bought or sold, connect with their CFO on LinkedIn and introduce yourself. Suppose the person isn't on LinkedIn and feels brave. In that case, you can even use an email hunting tool to find their professional email. Once you have their email, write them a professional but friendly email introducing your company and explaining why you want to hire a CFO.
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3. Use an executive recruiter.
Suppose your business connections and Google Alerts haven't helped. In that scenario, you might want to hire a CFO headhunter or executive search firm. This company is good at matching companies with execs who meet their needs. Most CFO recruitment charges a portion of a successful hire's first year's salary. However, this service can be beneficial when you're having trouble finding a qualified CFO.
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4. Hire industry-experienced candidates
Experience as a CFO is not the same for everyone. In other words, just because a CFO did well in one industry doesn't mean they will do well in another. Say, for instance, you run a digital marketing firm. Onboarding a new CFO with a lot of experience in marketing would probably be a lot different (and less stressful) than hiring a CFO who has never worked in your industry before. So, look for candidates who know your niche and have experience in that area. www.alliancerecruitmentagency.com
5. Get a part-time CFO
A freelance, part-time, or remote CFO may sound unusual, but they can be valuable for small businesses. Part-time CFOs will still learn about your organisation but have a smaller role. This idea is optimal if you have a smaller budget or merely need a CFO for a business transition, sale, financial crisis, or stable finances. Headhunters can help hire a freelance CFO, but there are fees. Save money by hiring a remote or part-time financial manager.
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