Hire a CFO

Hire a CFO

Companies thrive when they have a winning partnership at the top. Hiring a CFO is one of the best investments any organisation can make. Today’s CFOs are no longer just number crunchers and financial forecasters. They’re known as ‘Chief Future Officers’ who interact with almost every aspect of the company as the second-in-command to the CEO.

CFOs are quickly becoming a key c-suite role that provides an essential and unbiased point of view. Their financial insight and forecasting form the basis of the company’s strategy and provide forward-thinking. Today’s CFOs are engaging with stakeholders across the board, from investors to clients and external partners.

FD Capital Recruitment is proud of our reputation as the leading recruitment service for interim, full-time, and part-time CFOs across the UK. We work with hundreds of companies every year to unlock their potential by connecting them with a CFO. Read on to find out why you should hire a CFO.

What a CFO Brings to the Table

Every company is different. Each has its own needs, strategy, and outlook on the future. There’s a CFO out there for every organisation, understanding the challenges they face and being able to fill their skills gap. While the role of CFO will differ between companies, they bring several benefits to any organisation they join.

Working with FD Capital gives you the ability to tailor the search for your CFO to your specific needs, whatever stage your company is at. These are four reasons why UK companies are choosing to hire a CFO.

Financial Strategy Insight

The main purpose of a CFO is to oversee the company’s financial strategy. It’s one of the reasons that they form a winning partnership with CEOs. Most CEOs don’t have the financial skills or insight to scale their company and prepare for economic uncertainty, including recession planning.

A CFO puts systems and technology in place that provide them with data-driven insights into the company’s position in real-time. An engaging CFO will translate their financial analysis into more accessible language as a trusted advisor to other c-suite members, the board, and the CEO.

CFOs are often hired with the purpose of restructuring a company’s existing financial systems, adopting a new strategy, or developing fundraising opportunities.

Provide Strategic Insights

The CEO-CFO relationship is vital to the success of a company. The CFO is their second-in-command and a trusted financial advisor who also provides an unbiased perspective on the company’s position for the board. A CFO’s strategic insights will fuel the decision-making process of almost every aspect of the business.

Their forecasting and financial analysis account for everything from supply chain resilience to employee retention. It’s vital that you hire a CFO who will be at home in your company culture.

A CEO needs a CFO who will provide an unbiased perspective on the company’s finances and work with them to develop short and long-term strategies. It’s the CFO’s responsibility to determine whether a strategy is financially viable and to put the company in the best position to navigate market and industry volatilit

Fundraising Opportunities

Having a CFO on board makes your company more likely to connect with potential investors. Your CFO will open doors through their connections and by giving your company credibility.

You can choose to hire a CFO when you are preparing to scale your company or engage with PE houses and private investors or apply for government grants. Potential investors will expect a CFO to keep them up to date on the company’s financial situation and provide an unbiased point of view.

Conduct Internal Audits

You can hire a CFO at any stage in your company’s development, including when things aren’t going to plan. Most CFOs will start their new role by conducting an internal audit. They’ll examine every aspect of the business from its cash flow to the supply chain and technology systems.

Your CFO will identify potential problems within your organisation as part of their risk management role. Carrying out an audit enables a CFO to understand the full picture and identify potential areas of cost saving or growth potential.

CFOs as ‘Chief Future Officers’

CFOs no longer spend their days glued to spreadsheets. The role is evolving at lightning speed to take on a greater strategic and operational importance. CFOs are now the  Chief Future Officer’, preparing the company for its next moves and ensuring it has the resilience to withstand market and industry volatility.

A CFO is a Chief Future Officer who is intimately involved in the future planning of the organisation in partnership with the CEO as their nearest advisor. Similarly, board members and investors view the CFO as their eyes and ears.

Hiring a CFO will develop strong relationships between the company and stakeholders with new systems and real-time forecasting to allow the company to react to industry and market changes.

Full-Time vs. Part-Time CFO

You can hire a CFO on terms that work for your business. FD Capital oversees recruitment for part-time, full-time, and interim CFOs to make their skills and experience more accessible.

Choosing to hire a CFO on a part-time basis may be the best option for your business. Start-ups and scaling businesses can hire a CFO without the financial burden of a full-time position. These organisations often don’t have the necessary workload for a full-time position.

There are three reasons why a part-time CFO may be a better option for your organisation than recruiting on a full-time basis.

No Long-Term Commitment

Hiring your CFO on a part-time basis means there isn’t a long-term commitment. There’s the flexibility to grow and develop the role as your company begins to scale. You can try out a candidate and decide if they’re the right fit for your organisation and leadership team.

Fills Skills Gap

Even a successful CEO and their team will have a skills gap. Many CEOs start their companies with limited financial experience or connections with financial institutions. Working with FD Capital will help you identify your specific skills gap and hire accordingly.

Cost Effective for SMEs

You may choose to hire a CFO when undergoing a growth stage or when the company requires debt refinancing. CFOs can change a company’s fortune – whether it’s currently financially successful or not. A part-time CFO is a more cost-effective option for companies that are still growing.

Are you hiring a part-time or full-time CFO? Begin the recruitment process by contacting our specialist CFO hiring team at recruitment@fdcapital.co.uk or by calling us at 020 3287 9501 for a no-obligation consultation.