What to Look For in Your Next CFO
There’s no “one size fits all” formula when it comes to hiring a CFO. But there are some traits and qualifications that you should be looking for when you’re putting together your hiring criteria. Industry Experience The more senior a finance professional gets, the less they are defined by their accounting knowledge and the more […]
Why You Should Avoid the Path of Least Resistance When You’re Hiring Your Next CFO
Some time ago I met with the executives of a $40-million automotive service company to discuss recruiting a CFO for their business. The owner-managers were the sons of the company’s founder, and the reason they wanted to conduct a CFO search was to replace someone who was essentially the Controller. The incumbent had been with […]
Deconstructing the “Right Fit” For CFOs
Almost all finance and accounting recruitment firms make some claim to being able to find the “right fit” for their clients. Some firms tout a proprietary psychological / personality test they run candidates through. Other firms highlight their high degree of market / technical specialization. However, as much as every placement agency advertises their mystical […]
5 Key Criteria When Hiring a CFO for a Mid-Sized Company
There are any number of factors to consider when hiring a member of your executive team. Hiring the top financial person for your team, whether you’re hiring a CFO, Director of Finance or Controller, can be especially challenging. Your final decision will ultimately hinge on “fit”, but step one is to establish the criteria that […]
5 Indicators that it’s Time for You to Hire Your First VP of Finance
Most small businesses start out using the services of bookkeeper to look after their accounting needs. And if a small business remains a small business, a good, qualified bookkeeper is all that company will ever need. However, small businesses often grow into larger businesses. At some point the business you may start to sense that […]
What Should I Pay My VP Finance?
When it comes to benchmarking compensation, big companies have it relatively easy. They have human resources departments, access to compensation consultants like Mercer, and the best tool built-in tool available for compensation benchmarking: on-going turnover. Real-Time Market Intelligence Large companies that experience on-going turnover get periodic, market based information on what skill sets and/or levels […]
5 Defining Characteristics of a CFO
You’re the CEO of a mid-sized manufacturer that you’ve built up over the years by dint of hard work, market savvy and your fair share of good luck. Your sales executive is doing her part; her people are driving revenue and they seem to be able to do it without giving away too much margin. […]
How to Get the Most Bang For Your Buck When Recruiting a CFO
In most walks of business, the customer has a pretty good idea of what to expect from the service provider, whether that provider is an internal resource or an outside supplier. If you go to your in-house counsel for advice on a contract, you can be reasonably confident that the opinion your lawyer offers represents […]
