Business

Have you considered a Part-Time CFO

Introduction

Back in the day, it was virtually unheard of to recruit or consider recruiting a part-time CFO, but in the 21st Century flexibility is key and senior finance professionals are in surprisingly short supply.

Traditions are hard to break but sometimes what was the right approach in the past, is not in the present or for the future.

What are the options?

In order to  able to be recruit the best candidate for your business you need to evaluate the added value a strong candidate brings with them.  Do they have industry experience, perhaps working with a close competitor?   Have they been through a fund-raising event or an IPO?  Do they have specialist knowledge?  Are they Bi-lingual?  Experts in Search Marketing or E-Commerce?

If the answer is that these skills are attractive to your business, then it is worth exploring what the candidates with these skills are looking for?  Is it salary or is being flexibility more attractive?

A candidate with a near perfect skills and experience match is worth accommodating, if they are looking for a role 3 or 4 days per week, then a compromise to bring them on-board is potentially worthwhile making.

Hybrid or remote working makes sense for someone with family commitments and being able to offer this arrangement can bring someone into the job market who would otherwise not be able to participate.

Why offer flexible working?

Having a strong candidate on your team, makes a huge difference, some describe it as the difference between night and day.   Experience increases profit, experience raises funds, experience transforms finance functions and brings insightful understanding.   Being able to provide the team with focussed management dashboards that help them drive their own areas is an example.

Being able to attract top candidates nationally when your business is London based, means you can make the most of skills and experience, not matter where they are based, whilst still getting the best result.  Technology makes remote working viable and effective, MS teams and Zoom are mainstream these days.

The Part-time, fractional cost model allows an otherwise very expensive resource to be affordable.  SME’s often lack the challenge that larger companies present, but combining several smaller opportunities together adds up to an interesting challenge.  That is one of the attractions that this form of working offers a Portfolio CFO.

Where to find a Part-Time CFO?

FD Capital Recruitment, the London based FD and CFO boutique specialises in senior finance recruitment and offers part-time, interim and permanent opportunities.  Their service matches founders with CFOs and FDs often in the London Technology space, but also Nationally and Internationally.   They are worth reaching out to, as they have a first-class reputation for service and have some of the UK’s best candidates on their books.  PLC, AIM, PE Backed and VC funded backgrounds all feature among their large candidate databases.

Conclusion

A Part-Time CFO can bring with them many valuable skills and it is worth considering flexible working arrangements to attract them into your business.  Flexibility has many forms, Part-Time hours, remote working, hybrid working, Portfolio roles.  In the 21st Century businesses that are flexible are finding that this is the most profitably approach.

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