The CFO'S Perspective

“Do you need a CFO with specific industry experience?”

To answer a question we receive frequently, we turned to our team of CFOs for their insights. We received plenty of feedback about whether a company needs a CFO with industry experience from the CFO Selections team.  The depth and diversity of experience in the CFO Selections team again proves to be an excellent resource.

Read a sample of perspectives from CFOs who have decades of experience:

Topics: Recruiting CFO Hiring Planning

Which is Better: A Freelancer or A Firm?

Organizations looking to outsource their financial needs often wonder who is best qualified to handle the intricacies of their business operations.

With the multitude of options available the landscape of potential financial solutions is vast. Factor in the solutions catered specifically towards SMBs, local businesses, privately-held businesses, and businesses in designated industries and the result is an overwhelming sea of possibilities. Within these choices are two distinctly different options – freelancers and firms.

Business owners tend to struggle with determining which type of provider will best suit their needs. Will a solopreneur or freelance CPA-CFO be sufficient? Or is a larger firm a better option?

Topics: Recruiting Hiring Planning

Too Few or Too Many CFOs?

As the leader of our executive search practice, the most common question I get asked is, “What is the market like for CFOs?” 

My reply has generally been, “Well, in the Pacific Northwest there is an oversupply of experienced CFOs but not enough ‘up and comer’ CFOs”. 

I also mention: “It will cost you a lot more to get an inexperienced CFO than it did in the past.” 

Why do I say this?  It is all about demographics and supply and demand.

Topics: Recruiting Search Services Hiring HR

How Does Your CFO Spend Their Day?

 

Ever wonder why your CFO spends more time in their office than anywhere else? Or maybe you have a CFO who is always out meeting with people outside your business when you are trying to talk with them about an issue? Do you have a Controller who feels ignored by your CFO?  Do you have a CFO who is great at talking about the needs of your business, but can’t seem to answer a detailed question about the financial statements?

In my years as a CPA/auditor, an employee within companies in finance management roles, and as a recruiter focusing on senior finance positions, it is very apparent one can put a CFO in three categories.

Of course, not everyone is a single variety grape wine, most people are a blend, but I have found these three categories quickly summarize the most common types of CFO in the eyes of the CEO and others in an organization. 

The question as a CEO or business owner is, do you have the right type for your organization?

Topics: Recruiting CFO Hiring Staffing

Solutions for Issues and Concerns When Conducting a Confidential Search for a CFO

A changing of the guard in a company's top position is a dramatic change for any business, but getting a new CFO is a close second. As with any executive transition, there may be several reasons for the shift. You may be a small company that has just now decided it's time for a CFO, have an executive who is nearing retirement, or has a legitimate issue that prompts the need for a change.

No one likes uncertainty, so it's best to approach a CFO change with as much caution as possible. There are some telling signs that it's time to launch an executive CFO search, as well as advantages and disadvantages to conducting a confidential search for a CFO. Your company may want to consider an interim position, as well as enlisting the help of a financial consultant during this process.

Topics: Recruiting Search Services CFO HR