When recruiting senior talent, the process involves much more than just searching and shortlisting candidates. It requires extensive functional expertise and, increasingly, some detective skills. I want to share a recent example highlighting the importance of thorough due diligence.
A client approached us with a candidate they had shortlisted for a CFO role. They wanted us to conduct one final interview and handle the reference checks. During my conversation with the provided reference, something felt off. The person I was speaking to did not seem like the owner of a 500 Cr. business. Despite everything appearing fine on the surface, my intuition suggested otherwise.
We decided to dig deeper and reached out to relevant contacts within the company where the candidate claimed to be currently employed. To our shock, we discovered that the candidate had been asked to leave the company several years ago due to non-performance and other issues. Furthermore, many claims on the resume did not hold up when independently verified. The supposed "owner" who provided the reference was actually a friend of the candidate, assigned to take these calls. Once the candidate realized we had uncovered the truth, they ceased all communication and disappeared completely.
It's disheartening to encounter such deception. However, this situation serves as a reminder of the age-old Latin phrase "Caveat Emptor" (Buyer Beware), meaning that individuals should perform necessary diligence before making a decision.
This example underscores the importance of partnering with a reputable executive search firm for senior talent hiring. While saving some costs on search firm fees might seem appealing initially, it can lead to much higher costs down the road if proper diligence is not performed.
If you ever need help with a CFO search or want to discuss what kind of a finance resource you should hire for your organization, please DM me. At SuperCFO, we partner with businesses to hire the right team members, strengthening their finance function and ensuring long-term success.
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