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7 reasons why bringing in an Interim makes sense while you wait for your permanent Finance hire

finance interim
finance interim

Finding the right permanent finance hire in today’s market can take time, and often, the more senior or specialist the role, the longer the search. But what happens in the meantime?

The reality is that finance functions don’t stop. Month-end still needs to happen. Audit prep doesn't wait. Business partners still expect forecasts. And often, the rest of the team is left absorbing the extra work, which is rarely sustainable.

Over the last year, we’ve seen more businesses choosing to bring in professional interims to help bridge the gap. And it’s not just a stopgap; in many cases, interims help to steady the ship, improve processes, and reduce risk, all before a permanent hire is even in place.

Here’s seven reasons why it makes real business sense:

1-Interims get up to speed quickly

Professional interims are used to picking things up fast. Many have worked across multiple industries and ERP systems; SAP, Oracle, Workday, Dynamics, and can adapt quickly to new environments. They don’t need long onboarding periods or hand-holding.

This means you’re not waiting weeks for someone to add value - in most cases, they’re contributing within days.

2-They protect your existing team

It’s tempting to ask others in the team to “just hold things” for a while. But we’ve all seen what that leads to:

  • Deadlines slip
  • Errors creep in
  • Morale takes a hit
  • Top performers get burnt out (or even worse, they leave)

Finance is a function where precision matters. Overloading people, especially during busy periods like year-end or audit season, increases this risk. A professional interim can absorb the pressure, keep standards high, and allow your core team to stay focused.

3-They’re results-focused, not just filling space

Interims know their value is in delivery. Whether it’s producing accurate management accounts, navigating complex reconciliations, leading a finance transformation, or preparing for an audit, they tend to come in with clear deliverables and get the job done.

They’re not there to coast, they’re there to make an impact.

4-They often bring broader expertise than expected

Because of their varied background, many interims come with a wider toolkit than the original brief might require. For example:

  • A Financial Controller who’s also led a systems implementation;
  • A Finance Manager with experience in tax, treasury, and SOX compliance;
  • An FP&A professional who’s built out Power BI dashboards and improved forecasting accuracy.

This extra value often becomes clear once they’re in post and can lead to bigger improvements than expected.

5-They offer real flexibility

If your long-term structure is still evolving or if there’s a question mark around the role, bringing in a permanent hire might feel premature. Interims give you breathing space.

You can adjust their remit as things shift, extend their contract if needed, or, in some cases, offer them the permanent role if it turns out to be the right fit.

6-They bring a fresh pair of eyes

It’s easy to get used to “the way we do things around here.” Interims aren’t tied to legacy thinking or office politics. They can often spot inefficiencies, risks, or opportunities that permanent team members are too close to see.

In finance especially, this objectivity can be invaluable, from tightening controls to improving reporting processes.

7-You only pay for what you use

Interims are typically paid on a day rate, which means:

  • No need to pay for holidays, sick days, or employer benefits;
  • No long-term commitment or buyout clauses;
  • No risk of non-refundable recruitment fees if it doesn’t work out.

It’s a clean, transparent arrangement and a smart way to manage headcount budgets, especially in uncertain conditions.

Final thought

Letting a key finance role sit open for months might feel manageable at first. But over time, it leads to inefficiencies, missed opportunities, and often, the loss of key team members who are picking up the slack.

Bringing in a skilled interim is not just plugging a gap. It’s about protecting your finance function, maintaining standards, and setting your team (and your new permanent hire) up for success.

GET IN TOUCH

If you’re exploring interim finance support or just want to understand what the current market looks like, get in touch with Liz Hawkins on lizhawkins@srmrecruitment.com or call +44(0)7508 956587

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Steadying the Ship in Uncertain Waters: Why Interim Finance Talent is Delivering Real Value This Quarter

finance meeting
finance meeting

Finance Hiring Outlook – Q3 2025

As we move through Q3, many finance teams across Herts, Beds, and Bucks are feeling the pinch.

Forecasts are under pressure, resources are tight, and yet, the work doesn’t slow down.

Whether its audit prep, business partnering, or just keeping the month-end engine running, there is still the need for high-quality support - it hasn’t gone away. But what has changed is how teams are accessing it.

What’s going on locally

From where I’m sitting, businesses are juggling a few challenges:

  • Permanent hires are taking longer to get signed off or just aren’t happening
  • Teams are stretched due to unexpected absences or long-term leave
  • Change projects are still on, but there’s fewer resources to support them
  • Core finance functions are often running on a shoestring

It’s no surprise, then, that more companies are turning to interim finance professionals - not as a last-minute band-aid but as a practical, often strategic choice.

Why interim talent works right now

Interims don’t need a lot of hand-holding. They usually show up ready to get stuck in and sort out the things that have been hanging over your head for weeks (or months). No lengthy inductions or corporate handbooks required. Just a clear brief and a laptop, and they’re off.

Here’s the kind of roles I’m placing these days:

  • Interim FDs and FCs to steady the ship and help prep for year-end
  • Qualified interims to cover BAU while permanent recruitment limps along
  • Transactional temps to take the pressure off AP/AR teams
  • Project specialists to push through system upgrades or finance transformations

It might not be flashy, but it gets results - quietly, efficiently, and without the drama.

Thinking ahead? Why now is the perfect time to act

Waiting until the last minute to plug gaps or add support usually means paying a premium, scrambling to find anyone available, or risking important deadlines slipping through the cracks. And let’s be honest, nobody wants to be that team desperately hunting for a miracle hire in November.

Q3 gives you a golden window to be proactive:

  • Secure the right talent before others snap them up - the best interim professionals get booked quickly, especially as year-end nears.
  • Give your new interim the time they need to get properly up to speed - which means smoother handovers, better results, and less firefighting.
  • Reduce burnout and workload stress on your existing team - a little breathing room now prevents bigger headaches later.
  • Keep critical projects on track - whether it’s closing the books, supporting audits, or rolling out system upgrades.

Plus, interim support can be a great way to test out potential permanent hires without a full commitment. It’s flexible, low-risk, and lets you focus on what matters most; hitting your year-end goals without losing sleep.

If you’re thinking “maybe we should get ahead of this,” you’re already on the right track.

Now all that’s left is a quick chat to work out the best approach for your team.

Get in touch with me, Liz Hawkins, on liz.hawkins@srmrecruitment.com or call +44 (0)7508 956587

 

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What does an efficient recruitment process actually look like in today’s finance market?

job interview hand shake
job interview hand shake

We’ve all seen it: job advertisements are down, application numbers are up, and the best finance professionals are getting snapped up in a matter of days.

In a market like this, having a tight recruitment process isn’t just a nice-to-have, it’s absolutely essential.

So what does that actually look like? We asked our consultants what really makes the difference when it comes to attracting and securing top finance talent.

Here’s what they said…

A well-designed recruitment process doesn’t just assess talent, it also sells the opportunity:

The most efficient processes begin long before the first CV is reviewed. A clear understanding of why the role exists, what it needs to achieve, and what the business can offer is critical.

That means sitting down to define not just the job title, but the actual business need. From there, you can shape an accurate job description and brief that reflects both the technical scope and the benefits of the role.

Keep interviews focused, transparent and timely:

One of the biggest frustrations for candidates in this market is lack of clarity/streamlining around the interview process. Many ask upfront: How many stages will there be? Who will I be meeting? What will I be expected to prepare?

We always advise our clients to make this information clear from the beginning. A well-planned process might have two stages, possibly a third for stakeholder alignment, but that’s often enough.

Testing or presentations should only be included if they genuinely reflect the skills needed in the role - not because “it’s what we’ve always done.” If the position requires financial modelling, analysis, or communication of insights, then yes, a task may be appropriate. But explain why, and don’t let it hold up progress.

Timeliness doesn’t mean rushing decisions:

It means being collaborative, decisive, and respectful of the candidate’s time and other options. In this market, it’s not unusual for strong finance professionals to receive offers within 7 to 10 days.

If your process stretches out over three or four weeks without clear updates, you’re likely to lose them.

Good finance candidates, especially in London and other major hubs, often have multiple offers. Speed signals seriousness.

Structure for stronger hires:

What’s working now is simple: clear communication, timely interviews, relevant assessment, quick feedback and discussion around training, mentorship and leadership.

These steps help avoid counteroffers, keep candidates engaged, and give them confidence in your business. They also show that your company has strong internal processes and decision-making.

The sooner your new hire starts, the sooner they can take pressure off your team, drive improvements, and contribute to the business.

In summary

An efficient hiring process in finance isn’t about cutting corners, it’s about cutting out confusion.

When you combine clear role definition, structured interviews, and a well-managed timeline, you not only move faster than the competition, but you also attract stronger, more serious candidates.

If you’re reviewing your hiring approach or struggling to move quickly in the current market, we’d be happy to talk through how we support clients in making the process more streamlined - without compromising on quality.

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London Finance Update: What Australians and New Zealanders need to know before making the move

Finance Market Update
Finance Market Update

Finance jobs in London remain a top draw for Australian and New Zealand Youth Mobility Visa (YMV) holders, though 2024 has seen a slight dip in arrivals compared to the previous year.

In 2023, 9,900 Australians and 5,300 New Zealanders entered the UK on a YMV. This fell to 9,754 Australians and 4,304 New Zealanders in 2024 - a combined drop of around 8%.

Several factors could be behind this slowdown: the increasing cost of the visa itself, rising living expenses across the UK, and ongoing uncertainty in the employment market. Despite this, London continues to attract finance professionals with its strong career prospects, travel opportunities, and vibrant lifestyle.

As we moved through the end of 2023 and into 2024, we've seen a noticeable shift in candidate behaviour and employer expectations - particularly around salaries, job search timelines, and how individuals structure their move to the UK. Here’s what finance professionals should consider before booking that one-way ticket.

Salaries: A Strong Draw, But a Calmer Market

London salaries in the finance sector remain 20–50% higher than those in Australia and New Zealand for candidates with comparable experience. This continues to be a major motivator for those relocating.

That said, businesses are facing their own pressures - with tighter budgets and recent National Insurance increases, many employers are taking a more cautious approach to hiring. While demand remains, the frenzy of 2023 has eased.

This is especially evident for newly qualified (NQ) professionals transitioning directly from practice. In 2023, it was rare to secure a CA-qualified candidate for under £60,000. Now, salaries have stabilised, with most offers falling between £55,000–£60,000, often alongside discretionary bonuses.

The message? The opportunities are still there, but expectations should be realistic and flexibility is key.

Timelines: Speeding Up, But Still Requires Patience

Earlier this year, new arrivals were typically taking up to six weeks to secure a role. According to data from Global Careers HQ in New Zealand, that timeframe has since improved slightly to around five weeks.

One of the biggest challenges we see is misaligned expectations. Many candidates move with advice from peers who landed roles in previous years — when market conditions were very different. In the current climate, it’s important to understand that things may take a bit longer, and the path to employment might not be as straightforward.

Securing a role before arriving in the UK remains uncommon, particularly for those eyeing interim or temporary roles. However, strong CVs, relevant qualifications (like CA or CPA), and proactive networking can help candidates stand out in a more competitive market.

Search Strategies: The Early Bird Catches the Job

In the past, many candidates would travel for months before settling in London, arriving in September or October without raising eyebrows. That approach doesn’t quite fly in today’s market.

With job vacancies down 20% toward the end of 2024 and ongoing economic uncertainty leading to a dip in business confidence, candidates are now taking a more structured approach to their move.

We're seeing a shift in mindset: people are arriving earlier in the year, prioritising job and accommodation security before the traditionally quieter summer months. This strategic planning not only improves job prospects but also helps with settling into London life with greater financial stability.

Final Thoughts: Planning and Perspective are Key

The UK still offers a fantastic launchpad for Aussie and Kiwi finance professionals, but those looking to make the move in 2025 need to do so with their eyes wide open.

Yes, there are challenges: fewer vacancies, stabilised salaries, and more competition. But the rewards are still very much on offer for those who plan ahead, stay flexible, and adjust expectations to the current market.

At the end of the day, London’s finance scene isn’t just about the job; it’s about the lifestyle, the experience, and the doors it can open in your career. Just be sure to pack a plan along with your passport.

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2025 Mid-Year Hiring Review, by Andrew Setchell, CEO

Tower Bridge Sunset
Tower Bridge Sunset

In my January update, I shared some expectations for 2025:

  • Stabilising interest rates: With rates projected to hold steady around 4-5%, we anticipated a more stable environment that could support increased business investment and hiring.
  • Strong Q4 2024 performance: Our momentum at the end of 2024 gave us a positive foundation entering the new year.
  • Job market dynamics: Following the major employment shifts in 2022, we expected 2025 to bring renewed movement as individuals reached the three-year mark in their current roles - typically a trigger for career reassessment and change.

These trends have largely held true so far in 2025.

Our performance in the first half of the year reflects cautious optimism, even amidst new challenges - particularly the re-emergence of tariffs, which we’ve not had to navigate significantly in the UK for many years.

Just as we begin to feel a sense of normality and stability, another external event emerges to test business resilience. These disruptions slow down decision-making, force strategy adjustments and often hinder growth.

But, there’s always a “but”…

The improvements we’re seeing are not universal. Success remains concentrated in certain sectors or business types. Organisations with a long-term view and solid investment strategies are maintaining a positive outlook.

Meanwhile, those operating on shorter-term models or carrying higher debt are feeling the strain more acutely.

The Candidate Factor

Historically, when the number of available roles drops, the talent pool grows. That pattern has shifted. Today’s candidates are more cautious - often opting to stay put rather than even entertain new opportunities. This hesitancy might be a response to uncertainty, or perhaps a sign of shifting career priorities.

It raises the question: are some professionals sacrificing ambition for comfort?

The encouraging news is that while shortlists may be shorter, the quality of candidates remains high. Our commitment to excellence in every placement hasn’t changed - and won’t.

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Career Journey Spotlight: Q&A with Jason Smith, VP International Finance at Papa Johns

client Q&a - Jason Smith
client Q&a - Jason Smith

Luke Higgs, Regional Director at SRM, recently caught up with one of our long-standing clients, Jason Smith, to hear more about his career, his role at Papa Johns, and his experience working with SRM on a major finance recruitment project.

Q: Tell us a bit about your career to date – what led you to your current role at Papa Johns, and what does your role involve?

I’ve been lucky to work for some fantastic organisations with great leaders and teams. My career has always been in finance, working with consumer brands in the leisure and hospitality space. That’s included big corporates like Whitbread and TUI, as well as private equity-backed companies like TGI Fridays and David Lloyd.

Breadth of experience has always been important to me – I’ve worked across a wide range of finance disciplines, from commercial business partnering to accounting, financial control, shared services and finance transformation.

The opportunity at Papa Johns came about unexpectedly and quite organically – it started with an informal catch-up with a former colleague, which eventually led to me being offered the role. I’ve now been here just over a year. The international business covers around 2,500 restaurants across more than 40 countries, so it’s a broad remit. I lead the finance team and am responsible for finance strategy, planning, and commercial decision support.

Q: What’s been your biggest challenge – or biggest success – in the role so far?

I’d never worked in quick service restaurants (QSR) before, so it was a new environment for me. I’d say my biggest success has been leading the transformation and implementation of a new in-house UK finance team. Alongside that, I’ve been focused on providing financial leadership to our operations teams – helping to keep everyone aligned on the areas that really drive performance.

Q: In your view, how has the role of a finance leader evolved over the years?

It’s changed a lot. When I started out, finance was much more focused on reporting and control. These days, finance leaders are expected to be strategic advisors – not just number crunchers. With the sheer amount of data available now, we’re able to support faster, smarter decision-making. It’s not just about managing the budget anymore – it’s about helping shape the future of the business.

Q: What advice would you give someone just starting out in a finance career?

A few things, really:

  • Try to get as much breadth of experience as possible, rather than specialising too early. When you’re looking at a new role, think about how it will set you up for the next one and how it fits into your long-term career plan.
  • Get under the skin of the numbers. Really understand what’s driving them, and spend time with the operations teams – that’s where you’ll get a real understanding of the business.
  • And finally, focus on building strong relationships right across the organisation. It makes a big difference.

Q: We recently worked with you on a large recruitment project to hire 15 finance professionals into your team. Why did you choose SRM as your recruitment partner?

Recruitment is all about relationships – both from a client and a candidate perspective. I’d worked with SRM before on specific roles when I was at TUI, and they always understood the brief well. This was a large-scale project that spanned different locations, so working with one recruiter who could cover the full geography made sense.

Q: How did you find working with SRM on this project? What did we do well?

It was a good process overall. SRM provided dedicated resources for the different types of roles, which worked really well. They really understood the roles and the kind of candidates we needed – the quality of the shortlists was impressive.

Q: Were there any challenges during the project, and how did you overcome them?

There are always challenges when it comes to recruitment – it’s just the nature of it. But we tackled them by working closely together and making decisions quickly when needed.

Q: What advice would you give to someone thinking about working with a recruiter? How can they get the most from the partnership?

Make sure your recruiter really understands the brief – not just the job description, but the type of person who’ll thrive in the role. Don’t be afraid to be challenged either – a good recruiter will offer alternative views and help you see things from different angles.

get in touch

Huge thanks to Jason for taking the time to speak with us!

If you are looking to hire for your Finance team or make a career move yourself and seek a specialist recruiter who truly understands the market, we're here to help. Contact Luke Higgs in the first instance on lukehiggs@srmrecruitment.com or call +44 (0)7947 272862. 

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When (and how) to hire an interim?

hiring an interim

Interim resource can seem like an avoidable and expensive way to deal with short-term problems. However, used correctly they can create value very quickly.

We outline the reasons why you may need to hire an interim resource and how to best take advantage of the interim market.

Reasons to hire

Technical or specialist projects; IT system changes, finance transformation or finance modernisation (dashboards etc). Skills that are needed for a short period of time and usually are more specific and cheaper than using big consultancies.

Nice-to-have projects;these are the projects you’ve wanted to get done for some time, but can’t free up the incumbent team to work on them. This usually entails cleaning up messy accounts, balance sheet recs, or legacy data. Interims can come in with confidence of having done similar things before, need little onboarding, and create minimal disruption to the incumbent team.

Consultants too expensive; as the world goes through another stage of change, driven by AI, many businesses will see a safety net in using specialist consultancies. Whilst this undoubtedly has a lot of benefits, it is also incredibly expensive. In executing a consultant’s plan, using an interim is usually a more effective use of budget. Experts in their space, interims are with you full-time (not all consultants will be). More importantly, you can also use them as an independent voice and subject matter expert to act as a potential mediator between yourself and the external consultancy. This also tends to bring the length of the execution project down.

Busy season; year-end, audit, budget, planning and forecasting - all incredibly busy periods for ever leaner finance teams. Hiring an interim with the requisite technical skillset for a short period of time requires no long-term change to headcount, or more importantly little training. This allows the team to be more efficient and lowers the burden on the remaining team in an already busy period.

Bridging a gap; a resignation with a short notice, or a gap whilst waiting for a new permanent candidate to start. Interims should be used to lessen the burden on the remaining team in the short-term.

Covering leave; be it parental leave, secondments, sabbaticals or long-term sick cover, a temporary solution allows business as usual to continue. They’ll also having a positive impact on team morale as the remaining team is less likely to be overloaded with extra work and responsibilities.

How to ensure an interim hire works and add the value you need? 

The first thing we advise any client when hiring an interim is not to see it as a permanent hire. Sounds obvious, right?  But this long-term thinking and traditional outlook is quite common and can set unrealistic aims for any interim. This section will take you through the thought process when looking to hire an interim.

  1. Define the aim

This should be an actionable project, with an ending or singularly focus.

  1. Define the skills needed

Unlike permanent recruitment, you should not see this process as a catch all opportunity to hire the best talent possible. Be more transactional than that; think about what 3 skills do you need a candidate to have to meet your previously defined aim. Then pick the singularly most important skillset. This allows you to focus on the problem at hand and should give the interim resource the best chance of succeeding. Mission creep can be the death knell to a successful temporary assignment.

  1. Snapshot in time

Speed is everything in the interim market. You will be looking for a candidate who is, more than likely, immediately available - this is a tiny % of the employment market (probably around 5%). As a result, any shortlist you see from a recruiter will be the best currently available candidates on the market - waiting for something better may mean never hiring anyone. This does mean you may need to lower your expectations – but, if you properly define the result, then you will find the right interim.

  1. Be aware of the talent pool

 80% of all recruitment in the UK is permanent. These roles are based on the potential of the candidate and can involve headhunting and waiting for longer notice periods. This tends to mean that most of the CVs you will see will look similar and follow a traditional path. If you think like this when hiring an interim you will be disappointed by what you see. Interim CVs tend to meander more - so remember that you are looking for one specific skill set, not a career trajectory.

  1. Treat them as permanent team members

 They may be there to do a specific job for a short period of time and, in some cases, may be very different to the wider team in personality and outlook (often an underrated value in an interim). But they are still human. When properly integrated into the team, interims can bring untold value to the result needed and also wider team activities.

Closing thoughts

So before you next look to hire an interim resource, remember the reasons WHY you might hire them in the first place, but then also spend time to think about what you want them to achieve and how they’ll add the value that you need as a finance team.

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Why Hiring in Tax at the NQ–3 years PQE Level is Tough Right Now

Tax NQ
Tax NQ

If you're hiring in Tax at the newly qualified to 3 years' PQE level, you're probably already feeling the pain. It’s a challenging part of the market - arguably the hardest right now.

Why? A mix of long-term talent issues, increased demand, and changing candidate expectations.

Here’s a look at why it’s so difficult right now - and what you can do to give yourself an edge.

1. Shrinking Talent Pipeline

The impact of COVID-era recruitment cuts/freezes is still being felt. Graduate intake was reduced dramatically during 2020–2021, and now we’re seeing the results: a “missing middle” in the workforce at 1–3 years PQE. The knock-on effect means there just aren’t enough people coming through the system to meet demand.

2. High Demand from All Sides

Everyone wants the same people:

  • Practices need newly qualifieds to deliver client work and relieve pressure on senior teams.
  • In-house teams are chasing technically trained talent who are still relatively affordable.

This dual demand and aggressive hiring is inflating competition, pushing up salaries and sparking bidding wars for a limited number of candidates.

3. Improved Retention in Practice Firms

Previously, many NQs left Big 4 and Top 10 firms soon after qualifying. Reasons included burnout, unclear career paths, or better work-life balance elsewhere. But firms have taken note and improved. Strong performers are being promoted and looked after, which means fewer are jumping ship.

4. Salary Expectations & Cost of Living Pressures

With high inflation and cost of living pressures, candidates are more selective and motivated by money. Many won’t even consider a move unless there’s a 10-20% salary increase, even if the new role offers better long-term potential.

5. Tight Candidate Preferences

Many newly qualified candidates are highly specific about what they want:

  • Remote-first roles.
  • Only want in-house, not practice.
  • Prefer advisory over compliance.
  • Want clear progression in 12 months.

It’s not that they’re unrealistic, it’s just that they know what they want, and they’re willing to wait for it.

6. Visa & Right-to-Work Constraints

Historically, a large proportion of tax trainees in London have been international. But post-Brexit visa restrictions mean fewer firms are less willing or able to sponsor candidates, especially in-house, ruling out a significant slice of potential hires.

So, What Can Employers Do?

While bigger-picture solutions will take time, there are steps you can take to improve your chances of securing talent in the short-term:

  • Engage specialist Tax recruiters early

Don’t wait until the role goes live. Engage specialist tax recruiters at planning stage - they’ll know where to look for limited talent and can get ahead of the curve.

  • Reassess your hiring criteria

Be more open to candidates who qualified in other areas of Tax. For example, if you're hiring for a Corporate Tax role, consider someone from Employment, VAT, or Transfer Pricing backgrounds who can transition across.

  • Streamline your hiring process

Move quickly from receiving the CV to interview and through the interview stages. Keep it to 2-3 stages, max. Move fast, be decisive and make offers quickly. A client has recently declared they have 6 stages to hire, no matter what the level, but a long, clunky hiring process means you’re already losing the race.

  • Offer more competitive (or creative) packages

Counter-offers are increasingly more common at this level. Candidates are often at point in life where the cost-of-living crisis has hit them hard in terms of paying for rent let alone saving for a mortgage. It’s a false economy - in the end making a small saving on a base salary/package in comparison to making the right hire and having someone motivated to join and stay!

Be more creative - if meeting initial base salary expectations are difficult, consider; salary reviews at 6 or 12 months tied to performance, sign-on bonuses or additional benefits or flexible perks.

Don’t risk losing the right person by lowballing the offer!

Summary

The UK tax hiring market at the NQ–3 years PQE level is facing a perfect storm:

  • Too few candidates in the pipeline
  • Too much competition for those who remain.
  • And a candidate pool that knows exactly what it wants

To succeed, firms need to adapt, and fast. That means rethinking old assumptions, speeding up hiring processes, and making offers that genuinely excite. Because when the right person shows up, chances are, someone else is trying to hire them too.

GET IN TOUCH:

Whether you’re planning ahead or hiring urgently, having the right strategy (and support) makes all the difference. James Rodgers is our Head of Tax Recruitment at SRM – contact him on jamesrodgers@srmrecruitment.com or call +44 (0)7852 322955

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Is your finance team prepared this summer?

finance meeting
finance meeting

With June already here, many workers will be getting ready for their well-deserved summer break; drink in hand, sun-cream lathered and not a PO in sight!

But what are the risks for active finance teams, with so much annual leave taking place?

  • Late payments
  • Projects & potential year-end prep on hold
  • Missed deadlines
  • Delayed hiring processes
  • Lack of momentum

Hiring an interim over the summer period is a smart way to counter those headaches.

Here are just some of the key advantages:

  • Coverage - Bringing on an interim will help maintain productivity and prevent backlogs whilst minimising burnout due to stretched teams.
  • Continuity - Keeps finance transformation, projects, system upgrades or audit prep work moving forward and ensures timelines are met.
  • Flexibility – You are not tied down to a long-term agreement. This gives you the chance to manage an increased demand (particular for tourism, leisure, retail sectors) with confidence.
  • Upskilling – It’s a fantastic way to bring in a fresh perspective and upskill exiting members of your team (who aren’t soaking up the sun in Majorca).
  • Experienced – Interim staff are usually highly experienced specialists in their field, whether that be payables, receivables, reporting, implementation or audit. They can focus on what needs to be done with minimal training.
  • Recruitment – With so many of your team away, it’s hard to commit your time to a hiring process. Unfortunately, the demand for another head does not take leave. Having an interim on-board can cover the existing need, or even flex their knowledge and help interview/on-board new staff.

If you take the appropriate steps to minimise the summer risks, you will be thanking yourself in September.

GET IN TOUCH

If you need help to hire temporary finance professionals for your firm, or seek your next interim finance career move, please get in touch with Bradley Chilvers on bradleychilvers@srmrecruitment.com or call +44 (0)7398 766803

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Recruiting for the best available finance talent

best finance talent
best finance talent

The age-old question, do you hire the best available talent or hold out for those non-negotiable ‘unicorns’?

As always it depends on your type of role, urgency, and most importantly of all, budget.

Hiring the available talent does not necessarily mean lowering your goals on the quality of the hire, it means hiring what is right and giving the business the ability to access this talent appropriately.

This is SRM’s guide to making the right decision on your next hire.

1. Define the hire

All finance roles can be a search for a non-negotiable unicorn, but a true non-emotional appraisal of the role can help create a wider more diverse pool of candidates to hire from. This is turn will enable a quicker, more efficient and ultimately more successful hiring process.

Our advice here is to define clearly what is “non-negotiable” Vs “nice to have”. When critically appraising this, it is important think about the whole employment market not the immediate company need:

  • Must-haves: Can’t do the job without, for example, technical skills, leadership experience, cultural alignment.
  • Nice-to-haves: Can be coached or learned on the job, for example, specific tools (IT systems) and industry knowledge.

The pitfalls of many hiring processes in Finance is to mislabel ‘nice-to-haves’ as ‘must-haves’ and thus creating a more unique (and harder) profile to find.

In reality, most qualified finance and accountancy roles are extremely transferable. A management accountant in one industry should be able to learn the KPIs of another industry. Similarly, in an age where the vast majority of candidates have smart phones and use multiple different platforms both in their personal and professional lives, IT systems and tools can certainly be learned.

If performed without emotion this defining process will give you a shortlist of truly non-negotiable skills and thus widen your pool of high-quality available talent.

2. Urgency

We’ve all been there (don’t worry it happens a lot) where the hire is needed as quickly as possible due to some unforeseen circumstances. However, it can be managed and still allow for the best talent to be hired.

When defining the hire, remember to consider that the average notice period for a finance professional in the UK is now firmly set at 3 months. Add the recruitment process to this (an average of 4-6 weeks) and you are looking at a 4-6 month process until you have someone start. The question is how do you manage this process to hire the best talent?

Option 1 – ignore the timeframe issue and hire as you normally would.

This could mean extra pressure internally, but it will allow you to go through the process of defining the role and look at the best possible talent from the widest possible field.

Option 2 – only look at time relevant candidates

If the speed of hire is most important, then the non-negotiable becomes notice period or lack of. This is obviously a decision to make, but that one non-negotiable means the pool of available talent diminishes immediately and, with it, choice. If you are looking at only immediately-available talent (on average 5% of whole employment market), this will mean making compromises on things which in option one wouldn’t need to be compromised

Option 3 – use interim resource.

This isn’t to advocate temp to perm (it duplicates option 2), it is to create space to focus on option one. Whilst defining option 1, look into parts of the role which need to continue no matter and whether the remaining team can cover. If not distil this skillset into a short-term temp. It is often more junior than the permanent hire, but it releases pressure on the team allowing the best available talent to still be recruited.

As with any recruitment process nothing is fool proof, but thinking through the urgency questions can frame the talent you are seeing and help you make those decision on compromises.

3. Budget

Unfortunately, budget is the one defining element that is often out of your control. Market forces will dictate whether the budget you have mean you can hire the best talent in the market.

Each finance role will have a range in which salaries can be found, and depending on the role these bandings could be wide or narrow. If your budget sits between these bandings, then finding what you are looking for should be relatively easy. But how do you ensure this?

  1. Define the ‘nice-to-haves’ and ‘must haves’ before price is confirmed. Cross-reference this with external advice as to whether the skillset exists in the wider market.
  2. Speak to an external recruitment adviser on current market rates on the role you have designed.
  3. Hopefully the budget fits the expectation. If not, use the external adviser to review the ‘must-haves’ and ‘nice-to-haves’. This will allow you to bring it within budget with the least amount of compromise.
  4. Get sign-off internally with all of the above.

By engaging with advisor’s before taking the role to market, you can manage both personal and internal company expectations on what can be expected during the hiring process. This will widen the pool and give you a true representation of the best available talent.

Step-by-step guide

In summary, this is SRM’s definitive guide to hiring the best available finance talent:

  • Step 1 – how urgent is the role? Which of the 3 options is best for your current situation?
  • Step 2 – define the role unemotional and critically review ‘must-haves’ and ‘nice-to-haves’. Remember, when hiring accountants, most skills are transferable and sector as well as technology can be learned.
  • Step 3 – does this skillset exist externally? Consult with trusted external advisors (SRM can help here).
  • Step 4 – is the assumed price expected? If not, use SRM to redesign the role to match the expected price.
  • Step 5 – get sign-off internally.
  • Step 6 – find the best available talent.
Get in touch

If you’re looking to hire for your finance team, SRM is here to help. Please contact Rob McKay in the first instance, on robmckay@srmrecruitment.com or +44(0)7376 802264