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RecruitmentofChiefFinanceOfficerCFO.pptxRecruitment of Chief Finance Officer (CFO)
Kim-Rochelle Harker
Columbia Southern University
Professor McLauglin
Staffing Organizations
30 Jun 2019
Recruitment of Chief Financial Officer (CFO)
An examination of the recruitment strategies to be incorporated in the recruitment of this managerial position.
Introduction
The recruitment drive is for Apex Technological Solutions limited.
Mission – To be an excellence center in online marketing.
Vision – To be a dynamic company that is responsive to customer needs for profit maximization.
This company specializes in online marketing endeavors for firms seeking to expand or penetrate into new markets. The firm assists entities in branding efforts. The digital market efforts is conducted on social media platforms and websites.
The mission highlights the aspiration of the company becoming a market leader in online marketing.
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Job posting
Apex solutions invites prospective candidates with following qualifications to apply for the position of CFO:
Have a minimum of PHD degree in finance or accounting matters.
Be a certified accountant or financial analyst
A minimum of 15 years in the industry.
CFO is a strategic position to the organization. The company should set a high bar of academic qualification to discourage people with insufficient qualifications from applying.
Being a managerial position, experience is critical. Inexperience implies risking the funds of the entity.
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Sourcing Methods
Advertising on platforms like social and mass media (Lever, 2017)
Use of recruiter networks
Referrals
Sourcing within the organization
Advertising on mediums like Facebook, newspapers and TV has the potential for attracting a large pool of workers with specialized skills due to public awareness.
Recruiter networks are specialized agencies that assist organizations in sourcing for workers. They are applicable in situations where organizations prefer employees with high technical expertise (Lever, 2017).
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External recruitment methods
These mechanisms assist the organization in finding employees from outside the purview of the entity. They include:
Advertising on social media and traditional media
Use of job boards on the entity website that contain the qualifications of the desired candidates (Shafique, 2014). .
The advantages of advertising include creating massive awareness on the recruitment drive. This attracts many candidates. This contributes directly to the marketing efforts. On the contrary, it can be an expensive adventure.
Job postings are only effective if the entity website generates a lot of traffic (Shafique, 2014).
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Continuation…
Use of referrals – This is where the entity utilizes recommendations from others as a recruitment mechanism. The method requires intensive networks.
Soliciting the services of recruitment agencies
Referrals are old fashioned but seem relevant in the current world. There utility is limited to filing few vacancies in the entity at the top levels where specific skills and experience is desirable.
Recruitment agencies are third parties that assist the organization in the process. They can be expensive if routinely utilized.
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Internal recruitment methods
Promotions – This entails elevating one employee to the position. In this case, the finance and accountancy employees should be considered.
Internal advertisements – This adverts target employees within the entity. They are channeled through internal communications.
Promotions are morale booster within the organization. They are an indication that the organizations values their input. They must be conducted on a merit basis to avoid demoralizing other employees.
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Continuation…
Hiring retired employees - This is a cost saving measure. Retired staff members should be hired on a temporary basis while seeking long time replacements (Shafique, 2014).
Organizations are discouraged from recycling retirees. Such an approach signifies lack of progress within the entity.
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Effectiveness of recruitment strategy
The effectiveness of this strategy is derived from the tenets of:
Inclusivity
Competence
Wide appeal
Inclusivity mandates the organization to accommodate candidates from various diversities.
Technical competence entails consideration of the skills and educational qualifications of the candidate. Other trivial considerations like race should not be considered. They taint the business image.
Wide appeal is vital in increasing selection options for the entity
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EEOC requirements
Fair treatment of all the candidates – qualified and non qualified candidates must be notified in writing.
Impartiality – candidates should not be discriminated on the basis of their race or gender
Provision of enabling environment
Maintaining the requisite recruitment records.
Equal Employment Opportunity Commission (EEOC) is charged with the responsibility of implementing laws that protect employees and work applicants against discrimination.
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Slogan
Apex solutions is a merit based employer
References
- Shafique, O. (2014). Recruitment in the 21st Century. Interdisciplinary journal of contemporary research in business.
- Lever, S. (2017). An analysis of managerial practices in sourcing human resources. Human Resource Planning Journal.
