hiring a CFO: how to attract top executive talent.

The chief financial officer has traditionally been responsible for their company’s economic resilience. While that is still a core part of the role, modern CFOs have many other vital duties, including data analytics, securing funding for crucial deals, and guiding strategic decisions.

Great finance leaders are in high demand, which means hiring a CFO can be one of the toughest recruitment challenges you’ll ever face. But, with the right approach, you can attract a visionary CFO who will guide your organization to success.

qualities of a top CFO candidate

As with any new hire, it’s important to start by evaluating the basics, such as qualifications and experience. Suitable candidates should have a strong background in finance leadership, with a proven track record of meeting financial goals.

But the chief financial officer is also a critical leadership role. The CFO will work directly with other executives, including the CEO, to define the organization’s long-term strategy. For this reason, you will need to look for candidates with specific personal attributes, including:

strategic thinking

A great CFO will know how to navigate challenges while making the most of opportunities. They will have a skill for developing effective strategies, and they will know how to execute on those plans.

communication

CFOs need to interact with a number of key stakeholders, such as finance leaders, lenders, investors and other members of the C-suite. A great CFO needs to communicate their strategic vision and plans for long-term growth.

adaptability

Organizations need to adapt to external financial factors, which can include anything from interest rate changes to opportunities emerging from new markets. The right CFO will be able to adjust strategy to meet the requirements of each moment.

cultural alignment

Culture fit is important for new hires, but it’s even more important at a senior level. The new executive will set an example that drives your culture in a new direction. Therefore, it’s important to pick someone who is aligned with your existing workplace culture — and also aligned with the C-suite.

commitment

CFOs should focus on delivering long-term success and financial resilience for their organizations. This means the ideal candidate is someone who believes in the company, feels passionate about the mission, and wants to stay long enough to make a real difference.

Hiring a CFO isn’t just about finding the best talent. It’s about finding the person who is the best fit for your company and can help you succeed in your goals.

CFO recruitment: 5 steps for better hiring

Hiring a CFO can be a long and arduous task. That’s why it’s important to implement a process that attracts talent and gives you a chance to assess each candidate.

1. create a hiring committee

Hiring a CFO means getting input from multiple people across the organization. It’s often a good idea to assemble a hiring committee, containing people such as (or representatives of):

• CEO and C-suite: Senior leadership will be closely involved in hiring decisions, especially during the interview stages.
• HR team: Human Resources will oversee most of the hiring-related tasks. They will advertise the position, screen candidates and organize assessments.
• Finance leaders: Senior finance leaders can offer valuable input into the hiring process. They will also need to meet with CFO candidates to discuss the current state of affairs within the finance department.
• Other relevant leaders: Some departments in your organization might have a close relationship with the CFO. For example, CFOs and CIOs often collaborate in companies that make major IT investments.
• Recruitment experts: Elite hiring calls for a different kind of recruitment strategy. Your committee should have someone with executive hiring experience, or you might bring in an executive search specialist.

It’s important this committee meets regularly to discuss progress until your CFO candidate is in place.

2. define the scope of the CFO role

What kind of CFO does your organization require? It’s essential to walk through this question before you start recruiting, as the answer will define your approach.

Some of the things to consider are:

• Strategic or reactive? Will your CFO lead strategic decision-making? If so, you need someone visionary with a good understanding of the industry. If the CFO will focus more on creating budgets for existing projects, then you might need more pragmatic candidates.
• Growth or resilience? If your future plans are focused on growth, you might need a CFO with a background in things like M&A. If your focus is on surviving challenges, the ideal CFO might be someone more focused on business resilience.
• Tech-minded or traditional? Many CFOs play a role in data analytics, as the finance department is such a rich source of operational data. However, your company might not require someone as tech-oriented in this role.

These factors all depend on your organization’s current state and future ambitions. That’s why it’s so important to engage senior leadership in the CFO hiring process.

3. build an attractive compensation package

CFOs are well compensated, with top-tier candidates earning substantial salaries. According to Randstad’s 2025 salary guide, typical CFO salary ranges are:

• Low range (25th percentile): $157,286-$281,019
• Mid range (50th percentile): $231,916 - $413,879
• High range (75th percentile): $332,144-$593,395

Salary is only the first step in an executive compensation package — it generally accounts for 30 percent of the total compensation. Other important elements include:

• Annual incentives: Tied to realistic and clearly defined growth goals
• Long-term incentives: Encouraging loyalty and commitment to the strategic vision
• Equity: Gives CFOs a meaningful stake in the organization’s future
• Benefits: Core employee benefits such as health insurance and life cover
• Professional development: Opportunities to make career progress, such as earning qualifications and attaining new experience

Hiring a CFO will involve some negotiation, especially if you hope to secure a talented candidate. However, it’s important to start with a clear idea of what you can offer the right applicant.

4. communicate your mission and purpose

The new CFO will play a key role in your long-term mission, so it’s essential they understand what that mission is. When advertising the role to candidates, make sure to focus on essential elements such as:

• Organizational goals: What is your company's overarching purpose? This can involve your usefulness to your clients, your commitment to innovation, or your desire to make a difference in the world.
• Guiding vision: How do you pursue your goals? Do you push relentlessly for growth, or do you focus on careful consolidation? Again, this vision will affect the type of candidates who might apply for the CFO role.
• Workplace culture: Is your team competitive or collaborative? Is there a free exchange of ideas, or do you have a strong hierarchy? It’s important to find a CFO who fits your culture — and applicants will want a culture that suits their style.
• Community impact: How do you make a difference to the world around you? Applicants are attracted to organizations that have a positive effect on the world, whether that’s through charitable giving, community engagement or a commitment to inclusion.

Talking about your mission and purpose can help attract the best talent. It also increases your chances of finding someone who is aligned with your culture and strategy, which will make it easier for them to establish themselves within the team.

5. move quickly on promising candidates

CFO hiring is a rigorous process. The successful candidate will undergo multiple screenings and interviews and meet with senior leadership and other stakeholders.

Timing is essential here. You need to move as quickly as possible, but without rushing it. The best approach is to have a streamlined process in place that allows a quick decision. Some steps to consider include:

• Condense the interview process: Try to eliminate unnecessary or repetitive interviews. If possible, schedule a panel interview, rather than individual meetings with each stakeholder.
• Have an agenda for each interview: Each meeting with a candidate should have a clear goal and an agenda of discussion topics. In some cases, you may choose to share this agenda with the candidate, so they can prepare appropriately.
• Use technology where possible: Videoconferencing makes it easier for all stakeholders to schedule interviews. Recording interviews also allows other stakeholders to review the conversation and learn more about the candidate.
• Keep in touch: Communication is vital during the CFO hiring process. Set clear expectations, give plenty of notice of any interviews, and field any questions as they arise.

Communication is vital in effective CFO hiring. Ensure the candidate, the stakeholders and the recruitment team are in regular contact with each other.