THE CFO Hiring Guide
Steps To Take To Find The Right CFO
At The Right Time For Your Company
Assess Skills, Competencies, and Experiences of Candidates
Screen and Hire The Right CFO For Your Company
Key Steps To Hiring A CFO
As an owner or CEO, your business is your masterpiece. Over the years, you have led your team through different stages of it from start-up to scaling for growth. You know it’s time to bring on a CFO to help take your company to the next level and that is exciting. It can also be a bit intimidating. CFO Alliance is here to offer you a guide on the steps you can take to find the right CFO for your company.
What do we see as the key steps to hiring a CFO?
Here are some of the more critical ones in our experience:
1
Reflect upon your growth challenges and your company’s strategic goals over the next 18-36 months. The skillset of your CFO should align with the ability to alleviate this pain and assist with achieving strategic goals. Create a job description or job posting for the position with this in mind.
2
Research market compensation information given your industry and business needs so that you are prepared for the financial impact of hiring a CFO.
3
Consult with an Outsourced CFO firm to determine whether instead of hiring a full time CFO, fractional CFO services could be an option. Firms like CFO Alliance provide these services to Entrepreneurs. We would recommend meeting with and obtaining proposals from 2-3 firms before making your decision.
Download the full CFO Hiring Guide for additional key steps to hiring the perfect CFO for your business.
Core Skills, Experience & Competencies
We believe that the CFO’s of tomorrow have a set of skills, competencies and experiences that are very different from those of the past. So what should you be looking for on resumes and probing further on during interviews?
Skills & Experiences
The skills and experiences of CFO candidates should be wide ranging but the level
of both will be dictated by your particular pain points and needs but all should be considered as part of the assessment.
Other Considerations
- You will likely want a CFO with at least 10 years of progressive leadership experience. This might even be light given the needs of your company.
- Your CFO should have Excel skills at an Intermediate or Advanced Level.
- Industry or regulation specific experience may be necessary
The Perfect CFO Candidate
Hiring a CFO is an exciting time in your business’ evolution. There are a lot of
considerations to finding the right fit for you and your company. At CFO Alliance, helping founders and CEOs assess their finance and accounting resourcing needs is one of our sweet spots.
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