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5 Reasons to Use an Executive Search Firm When Hiring Your CFO

Employers / 4 Nov, 2015

Searching for the right CFO can be a lot like trying to find a needle in a haystack. While you as a CEO or search committee member may think you know what you’re looking for, how do you find the one tiny needle among all the straw?

The right CFO will seize opportunities that will add value to your company while simultaneously maintaining its integrity. And while many of your own professional connections may seem to fit the bill, are they truly the right fit for your company? Keep in mind that the wrong hire could cost you much more than the fees of a proper CFO search conducted by a firm. A thorough assessment of your company’s needs followed by a well-executed search and conducted by a professional, knowledgeable executive search firm will ensure that your company doesn’t make an unnecessary and costly hiring mistake.

In case you need any more convincing, here are the top five reasons why you should trust your CFO search to the right search firm:

1. You Must Conduct a Thorough Needs Assessment

You, as a CEO or search committee member, may think you know what your company needs in a CFO, but it is impossible to be sure when you can’t see the forest for the trees. Your perspective is unavoidably affected by your own day-to-day experiences with your current or previous CFO, and is far from impartial. The insights of a professional third-party search expert will guide your team towards the right questions and, ultimately, the right answers for your company.

2. You Will Have Access to the Right Candidates

Finding someone with a history of success as a CFO is much more difficult than expected because satisfied, successful CFOs are often too busy working to look at job postings. Search professionals have the means and ability to locate and contact qualified CFO candidates who may not actively be looking for a new position, and the skills to get their attention.

3. You Won’t Exhaust Your Network

Your professional network is one of the greatest resources gained throughout your professional experience, but it may not be the best place to search for a new CFO. While your contacts may be a goldmine of skilled professionals, are any of them truly the best fit for your company? If they are not, you not only risk your company’s success, but your professional relationships. Furthermore, does your company truly have the ability to attract the attention of someone who is happy and successful in their current position while juggling the immediate needs of your own positions?

4. You Won’t Exhaust Yourselves

Today’s fast-paced business environment is at best unforgiving and, at worst, completely ruthless. Maintaining your company’s momentum without the right CFO is hard enough without diverting precious time and resources to the monumental task of conducting a proper CFO search. The short amount of time you take to engage with the proper search firm will be infinitely better spent than months of divided attention leading only to a bad hire.

5.  Your New CFO Will Be a Match

Not only will the right search firm conduct a thorough and aggressive search to find you the right CFO, but they will typically guarantee that CFO’s performance for a significant amount of time. This accountability will ensure that your new CFO’s adjustment period is just that, an adjustment period, and not a faulty hire.