When there’s an important interim position to fill in your business, you look around for the best kind of assistance to fill the post. For many years, that meant bringing on a top recruitment firm. You would appoint this company to advertise for the post, sift through hundreds of CVs, conduct preliminary interviews and then help you in the final selection of your candidate. But there’s a new trend surrounding the appointment of interim FD positions in the finance industry, and it’s more efficient than any recruitment company has ever been.
Instead of bringing on a high-level, generalist recruitment firm such as Kelly Group or DAV, your business can make use of a business consultancy to find the perfect interim FD for your needs.
Here’s how using a business consultancy specialising in the financial space is the best way to hire for interim positions:
1. Shorter lead time. When you appoint a general recruitment company, you’re starting from scratch. You’ll need to draft an advertisement, then wait a few weeks while the CVs trickle in. After that, comes the mammoth task of wading through applications. Compare that to a business consultancy where candidates have already been vetted by top professionals in their industry. At any given moment, there’s more than ten highly suitable candidates available to fill an interim FD role. The down-time spent in advertising and receiving applications is completely eliminated, potentially saving your company weeks or even months of productivity.
2. Have the confidence that you’re seeking and placing the right skillset. As a Human Resources professional or general business manager, you’ve spent your working career managing people and operations. You might have a general idea of what you’re looking for in an interim FD, but it’s very difficult to understand the nuances of such position when you didn’t spend six years specialising in accounting.
A finance consultancy such as The Finance Team is led by highly experienced, qualified Chartered Accountants. They will walk you through the process and partner with you in finding the right match for your position. Because the directors have filled positions similar to the one you are posting, they’re more likely to know exactly who and what you need to get the job done.
3. No ‘hidden costs’. Hiring an employee through a recruitment agency sometimes feels like undergoing a medical procedure that is supposed to be ‘covered’ by your medical aid. You come out of hospital exhausted, and needing time to rest and recuperate. Instead your stress is increased with the arrival of unexpected bills that you must pay for out of pocket. Similarly, bringing on a new interim FD requires considerable time and attention from the hiring manager. Recruitment agencies can add to that stress by throwing in a few unexpected costs in the fine print of a contract. Your total bill can sometimes be 20%-30% higher than what you originally anticipated.
With the Finance Team, the cost you are quoted upfront is the cost you will pay. It includes sick leave, annual leave, pension and provident fund contributions, medical aid, travelling allowances, and so forth. You can plan your budget confidently.
4. Flexibility like you’ve never known it. When you hire an interim FD, you don’t know how long you’ll need him or her for. (The whole point is that it’s a temporary measure until you come to something more permanent. Who knows how long that will take?) Unlike most recruitment agencies, which tie your company into lengthy contracts that must often be stipulated upfront, The Finance Team knows that what you really need is flexibility. Our clients make use of monthly contracts which can be cancelled at a 30 days’ notice. Your business will keep its risk to a minimum as a result.
Searching for an interim FD can be a grueling, sometimes intimidating process. Take the stress out of the situation by reducing your lead time, having finance professionals assist your choices, and enjoying unprecedented flexibility. Contact The Finance Team for a free cost analysis today.