Finance Leadership: The Wind in Your Sails During Uncertainty

When the economic weather forecast is stormy with a side of WTAF, companies need a firm hand at the financial helm. Whether your company phase is a startup scull, a mid-size speedboat, or an enterprise-sized ocean liner, unpredictable conditions call for calm, wise navigation. 

At Forshay, we’ve seen a rising tide of demand for strategic and trusted finance leadership—interim CFOs, targeted executive searches, and even executive coaching from CFOs who’ve navigated a few storms of their own. 

In these times, a visionary plan is more inspiring than survival-level strategies. Ask yourself and your team: What are the opportunities in strategic finance hiring that can help your organization not only stay afloat but also chart a bold course forward?

Is Your CFO the Chief Future Officer?

From inflation jitters to tariff uncertainty to IPO hesitations, today’s environment is “a lot” (in both volume of issues and emotional drain). And when market visibility is low, you need someone at the helm capable of steering through the fog. In fact, you could think of your CFO as the Chief Future Officer. Although the role has always been consequential, ask yourself if your leadership team has the right person for your organization right now?

That’s why we’re seeing more clients than ever ask for strategic finance talent. The stakes are too high. Whether gearing up for more funding, in full growth mode, tightening the ship, or preparing for a long-awaited IPO, the right CFO—or fractional CFO—can chart the course with confidence.

The key is a strategic approach to the hiring process, because… 

Hiring mistakes cost. A lot. (We really like to drive that home)

You know this, but we’d be remiss for not covering how hiring the wrong executive isn’t just disruptive for teams; it’s very expensive. Not only do companies lose all of the sunk costs of the hiring process, but what we’ve all seen is how the wrong leader hurts productivity and increases attrition of valuable employees. 

Post-pandemic research from McKinsey found that employee disengagement and attrition could cost a median-size S&P 500 company between $228 million and $355 million a year in lost productivity.  Over five years, per company, that’s at least $1.1 billion in lost value.
The Society for Human Resource Management (SHRM) reports that replacing an employee can cost between 50-60% of their annual salary. Gulp. So what to do? 

Your North Star: A Strategic Finance Hiring Checklist

Before you launch your CFO search, take a pause. Commit to a weekly check-in during the search to avoid drifting off course. Here’s a navigational checklist to help you:

 Pre-Sail Checks:

• Do a post-mortem on your last finance leader—what worked, what didn’t?
• Reimagine what this role really needs today and for many tomorrows as that Chief Future Officer
• Align your hiring team on priorities. Are you all rowing in the same direction? (We see this challenge a lot)

While You’re Navigating the Search:

• Be transparent with candidates about current realities—investors, pivots, cash flow.
• Watch the pace: not too fast to miss red flags, not so slow you lose great talent.
• Think beyond one role: How does this person complement the entire leadership team?

Widen the Aperture to the Bigger Picture:

• CFOs are making complex decisions daily. That requires support. Consider adding an executive coach—someone who’s sat in that exact seat and can help your current CFO look around corners. (We’ve got this for you)

How to Recruit Your CFO

When it’s time to bring in a CFO, how you search impacts many scorecard measures. We’ve supported companies in the range of approaches below, tailored to what was right for them (in fact, we just placed the CFO at Kindred Motorworks and they were a joy to work with). 

Here’s a side-by-side look at four common approaches—and how they stack up on key decision factors.

In-house Recruiting Traditional Executive Search Interim Recruiter (Alternative Search) Interim CFO (Try-Before-You-Hire) Bandwidth & Capacity Risk of your recruiting team being stretched thin A leveraged model for your recruiting team. A leveraged model for your recruiting team. No extra load on your team. Speed & Opportunity Cost Time is money—and the clock’s ticking. Often 6–12 months (we do tend to go faster) Can move faster with fewer bottlenecks. Hit the ground running while you search. Cost (Seen & Unseen) Low direct cost, high hidden cost (hello, slow hires). Higher fees with big firms More scalable and tailored to needs. Strategic spending that buys you progress. Flexibility & Fit Internal teams know the culture but may be limited in range. Some companies may be off-limits (past clients) High adaptability; embedded and agile. No company off limits. Flexibility with a side of real-time insight. Alignment with Business Needs Deep context, but less market perspective. Depends on how well the firm “gets” you. Close collaboration = better alignment. Learn what you actually need by observing in action. Consistency & Focus Depends on internal politics and staffing. Varies by firm — some firms juggle many clients. Dedicated attention to your search. Focused leadership, immediate impact. Business Continuity Risk of a leadership gap. Risk of a leadership gap. Risk of a leadership gap. No gaps. Just momentum.

 

Interim CFOs: Flexibility for a Win-Win Strategy

If no one is CFOing during the CFO search, the limbo can “cost” the company in several unexpected ways. Pressure to fill the role may lead to choosing a less-than-ideal candidate. Teams (and KPI’s) drift. 

How can you adapt your search strategy to cover this risk? 

The good news is your company doesn’t have to experience the inevitable drift and downtime while searching for a new CFO. What we’re seeing is that an interim CFO for most clients isn’t just a stopgap—it’s a strategic choice.

Bringing in a seasoned interim CFO allows you to:

• Adapt quickly: Plug gaps without rushing a long-term hire.
• Bring in deep expertise: Need M&A experience? Restructuring finesse? Someone who’s actually been through a down round? There’s an interim for that.
• Maintain momentum: Keep finance moving while you conduct a thoughtful, unhurried search.

Moving Ideas to Action

Take a moment and ask yourself:

Where could your financial leadership use a lift?
What kind of support would unlock the next level of performance for your business?

If your financial strategy or team needs some shoring up, based on our work with clients we’ve seen how strategic finance talent delivers.

Whether you need an interim leader, a fresh key hire, or support for the CFO you already have, we have the perspective and experience to help you.

Reach out today and let’s begin charting your course wisely, together.