Like those employed exclusively on a full-time basis, the Fractional Finance Director/CFO should take financial leadership. From the development of financial strategies to the management of working capital, they may be expected to perform a range of duties. However, the Fractional CFO differs in working on a part-time or project-by-project basis, typically for a range of clients. Any business going through a period of change, be it Turnaround, Restructure, M&A, Exit Strategy, Growth etc. would benefit from a Fractional Finance Director.
So, why might a Fractional CFO be the best choice for your business and what are the benefits of hiring one? We’ll answer these key questions here.
What is a Fractional Finance Director?
As mentioned, the Fractional Finance Director has a high-level role and is commonly expected to work part-time. Unlike the full-time equivalents, such a Finance Director may offer the benefits of their strategic guidance and oversight to a broad range of clients. So, companies can access high-level financial leadership without committing to the recruitment of a full-time in-house expert.
Key benefits of a Fractional Finance Director
- Access to high-level financial expertise without the full-time cost
- A full-time UK-based Finance Director would generally be expected to be on upwards of £100,000 per year. This represents a significant financial commitment, particularly for start-ups, SMEs, and other companies with limited budgets. However, you can be assured of only having to pay for the services of an interim or part-time Finance Director as required.
Scalability according to business needs
There is a good deal of flexibility when it comes to the recruitment of a Fractional CFO. You can scale their level of involvement based on the needs of your business at any particular time. Engaged on a part-time or project basis, you can rely on the Fractional CFO for support in line with your business growth. This is ideal for companies in transition, going through rapid growth, or managing financial restructuring.
Specialised knowledge across industries
Fractional Finance Directors typically stand apart in their experience of different business types and sectors. Learning lessons from a broad range of clients, they offer the benefit of fresh perspectives and innovative solutions to financial challenges. You can count on the Fractional CFO for an impartial, bias-free viewpoint, helping you to make objective decisions. They also make very good mentors to your existing team.
Ability to address specific financial challenges
Just like their full-time equivalents, the Senior Finance Professional will bring expertise in everything from cash flow management to budgeting and financial planning. You can rely on their support with M&A, exit strategies, and investor relations. The focused, results-driven approach is bound to make a significant difference to your company’s financial stability.
The Fractional CFO/Finance Director may also support in:
- Making the best financial decisions in terms of efficiency and risk-minimisation
- Reviewing and making expert commercial recommendations
- Discussing financial implications and finding solutions in your company’s best interests.
How Benjamin Edwards can help
Having considered the range of benefits, you may be confident that the recruitment of a Fractional Finance Director would be the best choice for your business. Thankfully, you can count on the support of Benjamin Edwards. With extensive industry experience and local market knowledge, we can help you in the recruitment of top finance talent.
Simply click here to see our latest Fractional Finance Directors or full-time Finance Directors. We have part-time and interim Finance Directors/CFOs with experience of working for various sized companies across a diversity of sectors. In partnering with Benjamin Edwards, you’ll be assured of best-fit placing, saving you time and helping to ensure the financial stability of your business.
With our executive & managerial search program we can offer the following:
- Access to an extensive national network of Senior Executives & Managers
- Full psychometric testing
- A fully vetted CV with your consultant’s interview notes, references, ID and qualification checks
- Written candidate responses to critical questions
- Full benchmarking of candidates based on competency answers and salary expectations
- A confidential and secure recruitment process – all candidates sign confidentiality agreements
If you’d like further information about the benefits of fractional recruitment or the sourcing of high-quality Finance Directors then please email Claire@benjaminedwardsltd.co.uk or give us a call on 01522 412066.
