If you’re considering hiring a part-time FD or CFO, one of your key considerations is how to find the right fit.
You could be incredibly confident in their expertise and aware of the impact they could have on your business, but just like with your full-time employees, you might be keen to ensure they fit in well with your other directors and teams.
Alternatively, you might not be sure that they have the right experience to be able to work on a part-time basis.
With this in mind, here are three main tips on how to find the right fit when hiring a part-time CFO.
1. Look for the right qualifications
Firstly, when hiring a part-time Finance Director, you need to ensure they have the right qualifications and experience for the job. Working part-time, they need to work efficiently and effectively, able to make strategy-based and data-driven decisions to align with your business objectives.
Having the right experience is crucial here – so we recommend looking for a CFO or FD that has experience working at this level in larger organisations. At The Finance People, we only ever offer SMEs part-time FDs who have previously worked for one ‘The Big Four’ accounting firms, reassuring our clients of the expertise and position of the individual.
2. Guarantee a great cultural fit
The Finance People CEO Anita Tweats refers to the ‘BBQ test’ when finding the right cultural fit for a business - “If you wouldn’t invite the FD to your family BBQ then they are not a good fit!”
With a CFO or FD only working part-time, it’s likely you’ll see them less frequently than the rest of your employees – which can make building a relationship a bit of a challenge. The BBQ test ensures that you feel confident in their personality from the get-go, and you’re happy they would blend well with your team.
3. Finally, be sure to know your requirements
Finally, when hiring a part-time CFO or FD, it is essential you are able to clearly outline your requirements. A significant benefit of working with a Finance Director part-time is gaining access to high-level expertise at a fraction of the cost and time – they work more efficiently and are able to quickly strategise for your SME.
However, you need to be clear on what you need from your CFO or FD, so that you can find the right person for the job. Many SMEs know they need financial guidance or support but are unsure of the actual skills they are after and might find that the job can be filled with a Finance Assistant or Financial Controller instead.
Having a clear understanding of your business objectives and role requirements will enable you to find the best fit for your business.
Ready to find the right CFO for your SME?
At The Finance People, we enable SMEs to gain access to experienced Finance Directors and Chief Financial Officers to help their business thrive. Our Finance Directors work part-time for The Finance People, supporting various small businesses at once, meaning you get high-level experience for a fraction of the cost.
Get in touch today to find a part-time Finance Director that is perfectly matched to your SME.