How to Hire a VP of Finance
Hiring a new executive can be an arduous process. From identifying the right candidate to convincing them to join your team, the whole process can be laborious and time consuming. When you narrow this search down to hiring a Vice President of Finance, this process can seem impossible. If you are in the process of hiring a new VP of Finance, look no further for help.
Read on for our tips on how to hire a VP of Finance!
Define the Position’s Scope and Responsibilities
In order to bring on the best candidate possible, you need to know exactly what your candidate needs to do in order to be successful in their job. Will they need to proof and approve budgets? How big of a team will they be leading? What certifications should they have to be successful? Survey your finance department to see what skills are absolutely necessary to be successful at your company. Take note of what the previous VP of Finance did the most and their qualifications. Having a solid job description is a great way to make sure that you start your search for your new VP of Finance off on the right foot.
Consult Your Network
Now, where do you go to figure out what exactly your perfect candidate should look like? A great place to start is LinkedIn, but in general, you should consult your personal and professional networks. In your network of colleagues, there will most likely be finance professionals or other VP of Finances. Look at their qualifications and job descriptions. Take note of the qualifications that you really want your new candidate to have and the characteristics you don’t place too much stock in. Survey those candidates and see what they value in a fellow finance professional. Knowing what is and is not important for your next candidate is a crucial step in the hiring process.
Bring on Executive Recruiters to Assist
At the end of the day, you, your network, and your HR department can only do so much to find your next VP of Finance. It is an extremely important yet difficult position to hire for. For a position of this importance, an executive recruitment firm can help mitigate the time and cost on your internal HR team. Executive recruiters are specialized companies whose entire purpose is to find the perfect candidate for your executive team. With their extensive networks of candidates, they are the perfect solution to your recruiting needs. Think of this recruiting team as the specific arm to your human resource department dedicated to finding your new VP of Finance.
These are only a few of the steps necessary to hiring a VP of Finance. If you are in the process of hiring a VP of Finance and need recruiting help, feel free to contact our recruiting professionals to find your best hire!