Using an under-qualified, inexperienced financial manager to control and manage your company finances because they are ‘not as expensive as the other guy’, could be setting a path for your company’s financial ruin or even liquidation.
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You wouldn’t let a first year medical student conduct your organ transplant that could save your life, so why don’t you regard your company as much respect as your life?
Using an under-qualified, inexperienced financial manager to control and manage your company finances because they are ‘not as expensive as the other guy’, could be setting a path for your company’s financial ruin or even liquidation. Why? Because you get what you pay for.
So before you worry about how to get the most out of your financial manager, perhaps the real question should be, once you have chosen the best financial manager that is the right fit for your company, how do you work together with them to get the most out of their experience and skill set?
For those businesses or entrepreneurial endeavours that require an excellent financial manager but don’t believe the scope of work necessitates employing a financial manager full time, there are companies that can provide solutions to this challenge.
This is a phenomenon known as The Rise of the SuperTemp.
The rise of the SuperTemp
This term refers to the rise of the independent financial contractors who outsource their skills on a part time or interim basis. The Harvard Business Review labelled them ‘SuperTemps’.
These top level financial managers have been trained at esteemed institutions and are alums of well-respected and successful companies. The trend of using these SuperTemps has been growing in popularity internationally and is now a trend that is featuring prominently within the South African business landscape.
South African companies are moving towards a more streamlined and results driven approach to hiring individuals for key financial manager positions.
The current South African labour policies have created an unusual pool of highly talented and experienced professionals who can’t get back into the corporate work space and are now available on the independent market.
They are making a career of providing part time financial management services - not just providing this service as a stop gap until they can find a permanent post.
Companies like The Finance Team specialise in providing companies with trusted part time financial managers that are able to fulfil a company’s financial management needs.
The part-time self-starter
Experienced and trustworthy part time financial managers have all the necessary skills for the job. They are naturally self-starters who are able to assess the state of the financial wellbeing of the company, streamline processes and set up systems that will benefit the company both in the short and long term.
They are used to dealing with company management and shareholders and are able to provide financial reports that are accurate and understandable.
More and more companies are beginning to realise that it is more cost effective and productive to hire the best possible part time financial manager for job at hand rather than employ a sub-standard full time financial manager that could end up costing the company in the long run.
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