Money is probably why your business exists. You started it or bought it because you want to make money. That means offering a product or service that customers are willing to buy and then delivering it in ways that make more money than you have to put into making them.
Since money is flowing all the time through every part of your business, you need a finance department to manage it all. If you want them at their best, then you need to know how to fuel your finance department with corporate rockstars that can help boost your finances to the next level.
Finding Corporate Rockstars for Your Finance Department
You don’t have to totally overhaul your finance department if you want to take it to the next level. Just fueling it with a few corporate rockstars can be all it takes to instill new energy, drive, and direction. A handful of industry leaders can set standards everyone else tries to keep up with.
One thing you want to look for in finance professionals for your own department is specific candidates who have a proven track record of leaving their previous companies in a better position than they when they started. You want professionals who are known for making everyone around them better.
Rock stars can be solo acts, but the best of them are usually those who front an entire band and lead a group of people to unparalleled success. Given that, you shouldn’t go out and scour the market looking for someone who can help you. Candidates of this level have their pick of the litter when it comes to job opportunities.
As such, what you should do is go out and sell your company to them rather than try and buy them. Know what your brand and company culture are all about, and find candidates whose values align with what you already have in place. Present your openings as a chance for them to shine more than what they can do for you.
Recruiters Can Do It for You
Using the right finance & accounting recruiters means you can have someone else fuel your finance department with stellar talent. If your business isn’t big enough to be a name or destination where professionals want to flock to as is, then you might have trouble recruiting candidates. Working with a successful or prestigious team of recruiters means they can leverage their own reputation in helping draw prospects to your positions with far more success than you might have on your own.
Finance Department Positions You Need to Fill
If you’re not sure what specific positions your finance department should even have, then Chron has a good list of the fundamental necessities.
- Chief Financial Officer: The CFO heads the organizational structure of a finance and accounting department. They report directly to the CEO of a business.
- Management Accountant: This professional heads the sub-department of management accounting and is the second-highest senior professional for the overall department.
- Financial Accountant: This professional is a direct report to the CFO and provides information and reports used in decision-making.
- Internal Auditor: An internal auditor reports to the financial accountant and does routine analyses of every financial transaction to ensure accountability.
- Credit Controller: These professionals manage the company’s accounts recieviable for cash payments and any outstanding debts.
- Accounts Payable Accountant: Reporting to the management accountant, this professional heads up the sub-department of accounts payable.
- Accounts Clerks: The most junior members in an accounting department handle many of the common and daily activiies across the department.
Industry Experience Can Matter
Nearly any organization in every sector or industry is likely to need a finance department. There are also lots of finance professionals out there you can use to fill those needs. Having said that, there’s something to hiring finance and accounting professionals who have experience working with companies in your specific niche. They’ll not only understand finance matters but also have particular experience with the financial matters as they happen in your industry. That can be the extra little something that gives your finance department the rockstar edge.
Eve Anderson is a quirky, sharp, and meticulous copywriter with a bachelor’s in communications from Washington State University. She loves exploring antique stores, roaming redwood forests, and critiquing the absurdities of modern civilization.
