The recruitment of a Finance Director or FD represents a significant investment for any business, not just in terms of the cost but the importance of the role within the business can’t be under estimated. In this blog post we discuss how an Interim or temporary FD can help the recruitment process of a permanent one, and support the transistion.
Here are just some of the advantages that an Interim FD brings:-
- An experienced professional can settle down a team which has been shaken by the departure and sometimes unexpected departure of the former FD.
- Time is freed up for the CEO or MD to get on with the running of the business.
- A different perspective and motivation, they can bring new ideas and ways of doing things but are 0n board knowing that their role is time limited.
- Gives re-assurance to external stake holders should as investors or banks.
- A background of working within the same industry as well as being an experienced Interim manager will itself bring useful skills and benefits to a new organisation.
- A proven track record and pedigree.
- Valuable experience from performing similar functions within other organisations.
- A new network of contacts available for the business to make use of.
- They can bring fresh energy and enthusiasm to a team which may have been impacted by the departure of the previous encumbent.
What sort of skill set is needed to make a success of the Interim Finance Director role?
As with any recruitment process the chemistry between the senior team and wider business is all important, having the right personality is a great starting point, but it also requires good interpersonal and management experience to settle a team and to keep the team focussed. Having the ability to engage with the recruitment process of the permanent FD in the positive and right way is a real benefit. Being a temporary Finance Director can work very well for candidates who have long term time commitments or other external activities.
How an interim finance director can help recruit a permanent finance director?
They can support the MD or CEO whilst the recruitment process is underway and before hand by helping:-
- By drafting the job specification.
- By reviewing candidate applications.
- Forming their own opinion on what the role really requires.
- Advising on the best mix of skills needed
- Sifting the candidates to ensure only those with a likely good match go forward to actually meet the team.
- Once the permanent finance director is chosen, the interim can cover the incoming finance director’s notice period and provide a comprehensive handover to ensure he/she is fully briefed and able to seamlessly integrate into the business.
- Beyond the recruitment process, banks, investors and other key stakeholders will be reassured that a competent, knowledgeable and reliable finance director is in place through the transitional phase.
- Similarly, the interim can also provide additional support and mentoring to phase the incoming finance director into the new environment.
FD Capital Recruitment are specialist Interim FD Recruiters.
If your business needs an Interim FD make sure to speak with FD Capital Recruitment we specialise in the recruitment of Finance Directors, on a Part-Time, Full-Time and Interim basis. FD Capital has a team of experienced Interim Finance Directors available ready at short notice to step in and start work, call us today on 020 3287 9501 for an initial chat. We are here to help you.
Our areas of coverage includes, London, Oxford, Manchester, Birmingham, Nottingham, Derby, Leeds, Bristol and now also Brighton.