Leadership will make or break a company – now more than ever. Companies across London are bracing themselves for one of the worst economic recessions in living memory during a cost-of-living crisis and only months after bouncing back from the pandemic. London companies are preparing themselves by recruiting CFOs.
It’s a common misconception that CFOs only work for PLCs and multinational companies. The evolution of the CFO role and the rise of remote working has made them more accessible than ever before. A part-time or interim CFO can help you navigate an economic crisis and prepare for the future. Companies with a larger balance sheet can explore the option of a full-time CFO.
A CFO is the second-in-command to the company’s CEO and interacts with every aspect of the business. You want to find a CFO who will fit into your company culture and create a winning partnership with your CFO. How can you recruit a London CFO? Most companies find it easiest to outsource the process to a specialist recruitment agency.
Outsourcing your CFO gives you the flexibility to appoint on a full-time, part-time, or interim basis. Today’s CFOs have earned the nickname of ‘chief future officer’. They’re a company leader who translates financial forecasting into understandable language, builds company resilience, and puts systems in place to unlock the company’s potential.
We’re exploring the reasons why you should recruit a London CFO and why you should work with a specialist recruitment agency like FD Capital to streamline the process.
Why You Should Hire a CFO in London
CFOs aren’t just financial professionals who juggle spreadsheets and crunch numbers. They work alongside the CEO to oversee the company’s financial health and act as a senior advisor to external stakeholders, including the board. A CFO is one of the most versatile and adaptable c-suite positions, allowing you to tailor it to your business.
Most CFOs will specialise within an industry or have a focus on their work, whether it’s in e-commerce, debt refinancing, venture capital, or turnarounds. Working with a specialist recruitment agency will give you access to a wider talent pool of candidates who match the needs of your company.
Here are four benefits of recruiting a London CFO, either on a part-time or full-time basis:
1. Affordable Part-Time and Interim Positions
The benefit of outsourcing a CFO is that you can choose to recruit on a part-time, interim, or remote basis. Remote working and the changing world of work means CFOs are now available to work on a more flexible schedule. Hiring a part-time or interim CFO is more affordable for SMEs and start-ups, allowing them to utilise the skills and experience of a CFO without a larger financial burden. You can recruit a London CFO on a basis that works for your company financially and day-to-day.
2. Fill Your Company’s Skills Gap
Companies always have a skills gap, particularly start-ups and SMEs. Most London companies choose to hire a CFO who can fill their skills gap and complement the existing skills of their CEO. Start the recruitment process by identifying the skills gap within your company and tailoring your CFO’s job description accordingly.
You can hire an interim CFO to oversee a specific project within your company, such as debt refinancing or engaging with fundraising opportunities.
3. Lower Company Risk & Boost Confidence
Financial institutions, private investors, and PE houses are more likely to invest in companies with a CFO on board. CFOs provide these external partners with more confidence as they believe a CFO will lower the company’s overall risks. Overseeing risk management is one of a CFO’s primary responsibilities.
4. Developing Growth Strategies
Every aspect of a CFO’s job plays a part in developing the company’s growth strategies. There’s no ‘perfect’ time to hire a CFO, though ideally, you should have a CFO on board when your company is going through rapid growth.
A CFO will introduce systems to streamline your finances and prepare your company for expansion while boosting resilience against economic and industry disruption. Your CFO can also implement strategies for transition periods and identify areas of potential growth, including during periods of market uncertainty if your company is well positioned.
How to Recruit a CFO in London
Recruiting a CFO in London doesn’t have to be stressful or time-consuming. You want to find a candidate who fits into your company culture and can meet the needs of your organisation. Most London companies will choose to work with a specialist recruitment agency to simplify the process.
FD Capital is London’s leading specialist recruitment agency and is based in Great Portland Street. It’s built a reputation for its tailored approach to CFO recruitment and has an extensive talent pool of candidates located throughout London. These CFOs are available on a part-time, full-time, and interim basis.
We’re sharing four reasons why you should recruit a London CFO through a specialist recruitment agency.
1. More Cost and Time Effective
Internal recruitment is time-consuming and experienced. The average recruiter takes 30 days to fill a position – considerably longer than a professional agency. Using a recruitment agency is more cost and time effective, allowing your employees and CEO to focus on their day-to-day responsibilities.
Working with a recruitment agency doesn’t mean you’ll be sitting on the sidelines. You’ll remain actively involved in the recruitment process and receive a shortlist of the most suitable candidates.
2. Shortlisting Candidates
Recruiting is time-consuming, primarily due to the volume of administrative work involved. Hiring a recruitment agency means you can outsource shortlisting, candidate screening, and interview organisation. You’re more likely to find a suitable candidate and shorten the overall duration of the recruitment process.
3. Industry-Specific Knowledge
Working with a recruitment agency that specialises in CFO recruitment gives you access to industry-specific knowledge and insight. You’ll be briefed on salary expectations, industry trends, and the recruiting process.
4. Agencies Are the Best Option for Temporary Positions
Are you outsourcing a CFO with a tight deadline? A recruitment agency is the best option for sourcing a suitable candidate for a short-term appointment or if you’re on a tight deadline. You’ll have access to the agency’s talent pool without needing to advertise externally.
Outsource Your CFO With a Specialist Recruiter
Whether you’re hiring a part-time CFO or searching for an interim CFO in London, you want to make the recruitment process as time and cost-effective as possible. Unlock your company’s potential by connecting with a specialist recruitment agency to find a CFO who will fit right into your company culture.