In several business organizations, the highest-ranking person is commonly referred to as the Chief Executive Officer (CEO), although the position of the Chief Operating Officer is of equal importance in such an organization. Furthermore, every corporation has a Chief Financial Officer, a senior executive concerned with the management of the organization’s finances. Hiring a Chief Financial Officer is a challenge especially because it can drag on for several months without a single person being appointed. This is because the talent market is shallow with hardly any qualified viable candidates and that can lead to a high and lengthy candidate cost. When a firm wants to look for a replacement Chief Financial Officer, the firm may decide to engage the services of executive headhunters. It is, however, important for companies that require such agencies to screen them thoroughly because not all are guaranteed to meet the required standards.
This article discusses aspects that an employer should take note of in the context of the recruiting firm to be engaged and that of a CFO recruitment as well as a recruiting firm partnership.
What does a CFO Recruitment do?
An executive recruiter has one of the most difficult tasks as he has to look for the most powerful visionaries who will run the company. C suite recruiting is one of the difficult skills to learn and applies to a lot of connection efforts closely attempting to meet a long list of requirements from a company on candidates. Finding able candidates for the position of CFO is a time-consuming, skillful, and laborious process. One may even claim that recruitment of the best CFOs is an art and science practiced simultaneously by three people - an engineer, a salesperson, and a hr manager!
To fully appreciate the role of a CFO recruitment, it’s important to realize that it goes beyond just identifying candidates. Every CFO recruiter is expected to build relationships with employers, getting to know their specific hiring needs, and agreeing to the time frame within which the described position will be filled by the employer. After that, they look for and filter out appropriate candidates, connect them with the employer, and conduct negotiations. It is quite difficult to do this, more so with the current situation as relates to making certain hires. For instance, a survey done by Jobvite in 2020 indicates that 58 % of recruiters attribute the main challenge to the difficulty of finding qualified candidates.
Attributes of an Executive Recruiting Firm
It is one thing to identify the traits that a good headhunter should have, and another to understand that there is more to choosing a recruiter instead of just the shallow characteristics. It is paramount that such should include good qualifications and experience among other traits. There’s no such thing as an ultimate recruiter; however, there are four traits of executive search firms that headhunters worth their salt have:
Possesses an extensive database of executives in various fields
For example, recruit a firm that is focused on their executive search busting most of their resources on specific financial roles in the organization for at least five years. Placing CFOs has hands-on experience in these situations and as such gives these recruiters the advantage of forming numerous leaders contacts whom their clients would be seeking. An executive search consultant should possess not only the databank of candidates but also their locations, job aspirations, companies targeting as well as the perks expected from such ventures. The best recruiters in the business can provide you with a profile of the candidate before you ever get into face-to-face meetings with them. Of course, every recruiter knows what constitutes a perfect job for their available CFO recruitment. This knowledge allows you to use your time and effort more effectively by only considering applicants who are worth your company's consideration.
Deployment of mechanisms that aid in reducing the duration of searching for CFO executives
Elimination of manual processes is encouraged as they consume time and are unproductive. All these steps should be avoided and there should be tools that cut down on these steps to decrease the time taken in getting the said occupants. Automation tools help employers’ representatives focus more on online sourcing for candidates than paperwork. Tasks that are usually considered to be ‘most’ performed by people are office managers, screening younger candidates, and doing reference checks. Make sure to inquire the recruiter on the extent used of automation in boosting the productivity of their processes.
Offer a customized service for the recruitment of executives in the hired institution
An executive search agency that takes a generic approach in seeking candidates will most likely, fail to secure a top CFO within an organization. Such is the case of the Hunt Club which has been known to adjust its search strategy depending on the organization and its requirement providing interim services in the process as and when the need arises. Some methods may be getting word-of-mouth recommendations, going through their existing talent pool, or use of the software. It is the responsibility of the recruiter to help filter candidates based on the unique requirements of the client for that particular job.
Including check-ins, updates throughout the process, and support is expected during the entire search process. For instance, request your CFO recruitment to explain how they will communicate progress to you, what steps you should take if you have an inquiry and what is their usual interval of communication.
It is worth mentioning that there should be several options for you to contact them in order to ask questions or address concerns during the periods of recruiting. If you find it difficult to reach out to your recruiter or they are reluctant to respond to your inquiries, then consider seeking out another partner.
The years of experience made it relatively easier to search for the CFO with the help of Hunt Club.
A highly proficient CFA recruitment consultant is essential in identifying and hiring the right talent in the finance department of the organization. The consultant must possess an overhand grasp of financial concepts, extensive experience across different sectors, and excellent interpersonal skills. It is also important to understand the nuances of the CFO role and the organization’s recruitment policy. In addition, they must be resourceful in sourcing and enticing the right candidates through their networks. By working with Alliance Recruitment Agency, UAE, you can benefit from the wide pool of finance specialists as well as further enhance your recruitment strategies.
Such as when you decide to engage the services of a recruitment agency for a crane operator for a job position, you can be sure that your organization will get the right financial focus leaders in the team. Do not be frightened to contact us to help you get a suitable Chief Financial Officer for your company!
View source: https://medium.com/@olivestark75/what-makes-a-great-cfo-recruitment-expert-stand-out-f2b6d2941940