CFO Turnover is on the Rise

It seems as though the days, months, and yes, years, of CFOs hunkering down and waiting out the storm are over. This is true for CFOs individually, as well as companies and Boards who were nervous about replacing a finance leader during such tough economic times.

The recruiters I’ve talked with have all seen significant upticks in their CFO assignments. My clients have been telling me they are getting more, and better quality, inquiries from recruiters. And, recruiters are calling me looking for potential candidates.

A recent post from TreasuryandRisk.com points to a study from Liberum Research, which cites the increase in new hires at publicly-traded companies.

During the recession, boards were reluctant to make changes, he says. “Unless there was the need for a really major strategic change, they stuck with the captains they had in place as a general rule,” Jacovitz says. “That trend is beginning to change. There’s pent-up demand, executives who may be unhappy where they are and hoping to go somewhere else, and a recognition by boards that they can make changes.”

If you’ve been biding your time and riding out the stagnant economy, opportunities are available. That said, a few things have NOT changed …

— The Senior Finance Executive positions you want are not going to be found on the job boards;

— The most sought-after candidates are passive … employed and open to hearing about potential opportunities;

— The best time to be networking is long before you need a job; and

— The definition of networking is not who you know, but who knows about you!

If you are attending CFO.com’s Core Concerns conference in Chicago in June, please email me. I’ll be live tweeting and blogging from the event and I’d love the opportunity to meet some of my readers face-to-face!