Question

You are looking to hire a new chief financial officer (cfo) and you must decide between the following four candidates. who would you choose?

a. an applicant who has 15 years of progressive finance experience in your company
b. an applicant who has 10 years of finance experience and five years of accounting experience with 5 different companies
c. an applicant who has 15 years of progressive experience in finance with another company
d. an applicant who has 15 years of experience in finance with three different companies you have a small company of 20 employees and you want to motivate them as much as possible to stay with the company because you have many direct competitors.

Answer 1

To choose a new CFO for a small company, one must consider the candidate's experience, loyalty, and ability to fit into the company culture. A candidate with 15 years of progressive experience within the same company might be the best fit for promoting stability and retaining staff.

Step-by-step explanation:

The decision to hire a new chief financial officer (CFO) is critical, especially for a small company with many direct competitors. Among the four candidates, each presents unique strengths:

• An applicant with 15 years of progressive finance experience in your company would have a deep understanding of the company's financial history and culture.
• An applicant with combined 10 years of finance experience and five years of accounting experience with five different companies might bring diverse perspectives and strategies from various environments, but may lack loyalty.
• A candidate with 15 years of progressive experience in finance with another company may bring in new ideas but could need time to understand and integrate into the current company culture.
• Finally, an applicant with 15 years of finance experience with three different companies could offer a balance between loyalty and diverse experience.

Considering the company's size and need to retain motivated employees, the first applicant's longstanding commitment and existing relationships within the company may be pivotal for promoting stability and loyalty among staff.