How to grow your Business

3 Steps to hire a CFO

Valentina GolubovicValentina Golubovic
Last updated on:
April 30, 2022
Published on:
April 28, 2022

Read our guide to employment agreements

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Find the right candidate 

Now that you've decided to hire a chief finance officer, here are three steps you can take to make sure you find the right candidate.

Create a job description 

Clearly outline responsibilities and requirements for the role. You'll need someone with strong financial expertise, relevant certificates and education, and, ideally, someone who knows your industry. Soft skills are also crucial in an effective CFO as they will be a vital member of the team and have a leadership role in your company.

Interview 

Plan out your interview questions so that you get the information that's most important to you. Ask how they have dealt with complex financial matters, motivation, and critical thinking skills. Leadership and ethics are essential characteristics of a board-level member. Consider asking the candidate how their past performance demonstrates these skills.

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Discuss the terms 

You've found the ideal candidate, and they have accepted the offer. Now, you have to make sure your employment contract is comprehensive and covers all aspects. So, what do you need to know?

First, make sure the contract covers all of the following:

  • Compensation (salary, bonuses, stock options, benefits)
  • Work schedule (hours, vacation time)
  • Job description
  • Job expectations (reporting lines, evaluation process)
  • Employment status (permanent or temporary; full or part-time)
  • Job title and official start date

There are many other key terms you will want to consider before sending this to the candidate. Consider adding restrictive covenants and a suitable notice period. These clauses are vital to protect both employee and employer. 

Create an employment contract

Creating an employment agreement with Legislate is simple. Set the terms of the employment by answering some simple questions and inviting your employee when you are happy with the terms.

Once the employee has reviewed the preview and accepted the terms, they can sign. Legislate also supports witnessing should you require this.

For more information on how to create your agreements with Legislate, sign up, read our employment contract tutorial or book an introductory call with one of our team members.

The opinions on this page are for general information purposes only and do not constitute legal advice on which you should rely.

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