Are you looking to hire a Chief Financial Officer for your organization? Wondering how to attract the best talent for your company? 68% of CFOs are confident they can achieve near-term growth goals. But how can you attract those types of CFOs?
It starts by understanding what an effective executive Chief Financial Officer executive search entails.
This guide will discuss the essential elements of a successful chief financial officer executive search and recruitment. From refining the interview processes to working with an executive search firm, you’ll learn to find the perfect candidate for your needs.
Why Hire a CFO?
First, let’s answer a common question we receive. Does my company really need a CFO?
In today’s troubling economic times and volatile market, yes. A chief financial officer can provide tremendous value to any company. They do so by relieving much of the work from other executives and business owners.
With their deep understanding of the company’s core operations, CFOs are equipped to provide strategic direction that helps businesses attain their long-term objectives. In addition, since CFOs are familiar with measuring ROI, they help ensure that investments of time and money result in optimal outcomes for the business.
Ultimately, hiring a CFO won’t just reduce costs. It’s a step forward in increasing profitability and shareholder value as well.
The key to attracting top CFO candidates is knowing what top CFOs want. For example, in the PwC study linked above, we found these valuable insights:
- 47% of CFOs are focused on building predictive models
- They’re looking for companies that are investing in scenario analysis
- 40% of CFOs are working hard to establish procedures and policies surrounding climate change and data collection
- 53% of CFOs want to do more with technology
- They’re interested in investing in AI, automation, and cloud solutions
Now, this doesn’t mean you have to tailor your CFO role to fit what they’re looking for. However, this helps provide you with some information about what most CFOs seek in an executive role. Consider these trends and how you can tailor your CFO job description to fit the interests of a modern-day CFO.
CFO Job Description
Where do most companies go wrong in the Chief Financial Officer executive search? The job description. An effective CFO job description is essential to attract the right executive candidates. This job description should emphasize the responsibilities, accountabilities, and impacts of CFOs in your company. It should explore how CFOs help the organization’s bottom line.
Consider listing what success looks like. For example, developing new corporate strategies or creating and managing budgets and processes. To make the CFO job description sound more appealing, showcase a potential CFO’s unique opportunities within your organization. Talk about their access to technology, bonuses, and other incentives that could benefit potential candidates.
All of these points help draw the attention of qualified CFO candidates. If done right, it can help you attract more than a qualified candidate, though. It’ll help you attract someone with the drive and experience to take your business to the next level.
Qualities of Great CFO Candidates
Attracting top talent is the first step. Once you’ve got their attention, you’ll need to ensure they possess the qualities you need. CFOs must be confident to take decisive action while remaining mindful of regulatory requirements, ethical business practices, and risks. CFO candidates should possess the right combination of skills to ensure success in this demanding position. These include the following:
- Strong analytical abilities
- A CPA certification (if applicable)
- Data interpretation skills
- Strategic financial planning skills
- Budgeting expertise
- Strong communication skills
- The ability to effectively manage teams
Chief Financial Officer Executive Search
Don’t let executive recruitment be a time intensive and inefficient experience. To assist in finding the best hire for your business, work with an executive search firm. They provide valuable insights into creating a successful search strategy and hiring process management. That’s what we do at Knowledge Leaders.
An executive search firm like ours can help identify talent by searching wider networks. We can help source candidates you might not have otherwise considered.
The bottom line? Finding top CFO candidates in today’s competitive market is easy with the experts at Knowledge Leaders. We connect you with highly-skilled executives who will positively impact your company’s future.
Find a CFO Today
Ready to streamline your Chief Financial Officer executive search? We’re here to help. Our team of experts will help you attract and vet CFO candidates that’ll help your business flourish. Contact us today to discuss how we can help you find the right candidates.