Hiring a financial director
What’s the best way to find your next FD? Will you recognise the ideal candidate when you meet them? The faculty spoke to a variety of recruitment experts about how to find the perfect fit.If statistics and surveys are to be believed, recruitment in finance is on the rise. Office for National Statistics figures from 2014 showed the UK entering pre-2007 levels of growth. The knock-on effect, according to the Robert Half 2015 Salary Survey, is that accounting and finance recruitment is also returning to these levels. Only a year earlier, Robert Half found 95% of board level executives feared the imminent exit of their CFO. How do you find the perfect head of finance for your business in an overheated recruitment environment?
1. Define the job
It’s important to flesh out the job within a team that’s already in place. The MD, CEO, chairman, audit chairman and HR director are obvious choices to do this. In a small firm, sales or operations directors might be more appropriate.
This is the time to redefine the FD role if the business needs it. Mark Freebairn, head of financial management practice at Odgers Berndtson, believes that everyone who has an vested interest in the success of the finance role needs input into defining the job: “They’ll know how that individual is going to make the difference that the role and function is supposed to make.”
This is an extract from the Finance & Management Magazine, Issue 234, July/August 2015.
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