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Good to Great: How to Scale With an Outsourced CFO

Small to medium-sized businesses reach a point in their growth where access to the skills and talents of an experienced Chief Financial Officer (CFO) is required.  The question they often have? Is there enough work to warrant a full-time CFO? The answer is yes.....

Strategy, Business - 4 min read

One of the most difficult aspects of hiring is trying to predict which people will be right for certain roles. It’s not always apparent if a person will be a great match for a certain position. In fact, your employees are often unsure of exactly where they will thrive themselves, so it doesn’t always help to ask them.

The best managers watch their employees carefully and look for the traits and attributes that their companies need most. They also learn how to interview and sort through candidates in a way that helps them to place the right people in the right jobs. Traits and attributes aren’t apparent from resumes and job applications, so it takes practice and determination to seek out the kinds of insights you’re looking for.

What can you do to make sure you hire the right person for the right role?

 

Examine Your Hiring Process

Before you ever start advertising for a new employee or even telling people that you’re looking, you need to determine the type of individual you want to add to your team. Wise managers think about more than simply education and skill set. They take a close look at their existing team and think about what kind of person will complement the group. 

Does your team need a leader who has the ability to unify a disparate group? Does it need a worker bee without a huge personality? Maybe your group needs someone who is very organised and can keep people on task. Once you determine what kind of person you’re looking for, then you can begin your search. 

New Call-to-action Before you advertise your job publically, start with your own business network. Tell colleagues and peers what kind of person you’re looking for and what the qualifications are. Sometimes business owners find themselves in the awkward and even devastating position of having to lay off great workers because they simply can’t keep them. They are often very happy to help these treasured employees to find work with someone they trust.

 

Look for the Best Candidate Instead of the Best Interviewee

All too often, businesses end up hiring the best job seekers instead of the best candidates for the position. This can be a costly and difficult mistake. The hiring process is expensive. It takes time and resources to find and train new employees. What can you do to look for the best candidate instead of the best interviewee?

Start by improving your interviewing skills. Don’t “wing it” when it comes to interviewing. Think about the kind of person who will be best for your team and then create interview questions that will help you to find that person. For example, if you’re looking for a person with the organisational skills to keep your team on track, ask questions about organisation and leadership. 

Also, use an evaluation sheet that is catered to the kind of person you’re looking for. You’ll probably interview several different candidates, and it’s helpful if you take notes regarding how each candidate measures up to your predetermined criteria.

Additionally, try to look beyond the candidate’s resume. It’s generally not helpful to spend much of your interview time going over the resume. You already have that information. Instead, ask about the kinds of things you can’t learn from a resume. Try to find out about each candidate’s character and how well they’d fit in with your business culture.

 

Look In House, if Possible

If you’re able to fill positions from people who already work at your business, you’ll have less training to do, and you may be able to make the most of their skills and talents. For instance, you may have discovered that someone in your finance department has remarkable web design talent. Instead of looking for an outside web designer, offer the position to your current finance employee. He or she may enjoy the challenge and can bring an original perspective to the position.

As you can see, there are many things you can do to find the right person for the right role, whether that person is a new hire or a transfer from elsewhere in your business. For more advice on how to attract the top talent to your business, get in touch with us today.

For insight into the current state of your business' health, try our Healthy Business App by clicking below:

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