“In theory it is not always appropriate to talk about family and private interests during a job interview,” says Richard Angus, CEO of The Finance Team, “but personality and culture fit is critical to a successful engagement, so we do it anyway. In the end, a lot of what The Finance Team does is personality matching, says Angus. “Finding a personal and cultural click between people is essential when it comes to placing finance experts temporarily into any organisation.”
Around for over a year now, The Finance Team has developed a model in which experienced financial executives are contracted to businesses that need interim or part-time financial resources. The Finance Team currently has thirteen associates in their team, who are contracted into small and medium-sized firms on a part time basis, ranging between 1 and 3 days per week. The firm also provides experienced professionals to larger corporates for short term projects or interim assignments. “We build relationships of trust with clients so we become the organisation they phone when they are in need. We value trust, respect, honesty and integrity as key elements in our business”, says Angus
According to Angus’s colleague Grant Robson, who recently joined the company as the Executive Chairman, more and more companies are following the International trend of employing financial executives on a part-time or interim basis. It saves the expense of a full-time resource, which businesses in the SME sector simply can’t afford but certainly do require. They’re typically smaller companies or family owned businesses that don’t have the financial resources to appoint a R120k per month Financial Executive, but certainly can afford a R50k per month expense to have access to a suitably qualified, highly experienced Financial Executive on a part time basis until the company is of such a size so as to justify the employment of a full time resource. This can sometimes take a number of years. CFOs of larger corporates are more inclined to look for interim or project accountants that can come in to address certain issues, lead a project or fill a gap for a few months,” says Robson.
Angus describes the challenge experienced by many large South African corporates in the area of staff turnover; “Human Resource requirements often mean that internal candidates need to be considered before external recruitment can take place. This, along with psychometric testing and rounds of interviews, means that recruiting a replacement for a financial role may take a considerable period of time, often measured in months not days.” Added to this is the fact that staff turnover often occurs at the least convenient time such as over year end or budget time, placing greater pressure on already stretched resources. “In cases such as this, a finance expert from The Finance Team is able to step into the gap and ensure that delivery is not compromised”, says Angus.
For Angus and Robson it is crucial that their model is seen as unique. “We are not a recruitment or placement company. We employ quality, experienced professionals on a full time basis and provide these professionals to the market on a flexible / Part Time Basis. Our Associates have made a lifestyle choice and choose not to work for just one company and most of them don’t want or need to work on a full time basis anymore,” explains Angus. “Key to delivering excellent service is the reliance on good relationships. If a client is not satisfied with our delivery and we have done everything possible to correct the situation, we are more than happy to end our contract and allow the client to walk away. Ultimately it’s all about the client and finding the best match possible”
If you also would like to share your ideas with the CFO community and you want to be part of the leading CFO South Africa Community, you are most welcome to get in touch with CFO SA. Please contact Jurriën Morsch at [email protected]
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