Lloyds TSB Said To Be Considering Part Time Finance Director
Not even the biggest brands and best known institutions are exempt from requiring the services of a part time FD. An article published last week in The Guardian reveals that high street bank Lloyds TSB could be calling upon the services of a part time finance director after its current director announced his decision to leave and his replacement (George Culmer from ISA) is still in negotiations to take up a full time role. This story illustrates that even banks can benefit from bringing in an external ‘heavy-weight’ finance director on a part-time basis. However large or small your organisation, bringing in the services of a part time FD is a savvy move in the current economy. Even if you have a recruitment drive in place for a full time FD, an interim director can make a large contribution in a short space of time and plug any knowledge gap.
This news proves that no-one is safe in the current economic climate and all businesses, small and large alike must be careful not to fall into the superficial state of presumed financial clarity. Getting people in through the door does not necessarily mean that one and one will make two in this instance. Merely making cash intake meet expenditure is a whole different ball game in the trading conditions we now find ourselves in. Employing a full time financial director may be out of reach of a current budget but using the services of part time FD couples a realistic short-term expenditure with a sustainable, long term solution.
Allowing an outside source with the exemplary credentials you so desperately need but can’t finance to put your finances on the straight and narrow is definitely a feasible answer to the endemic financial problems we are seeing surface on a daily basis. Experts in their field, the FD Centre offers a high caliber support network of part time Financial Directors with the common ground goal helping clients whether the current economy, plan for the future, develop robust systems and processes and promote financial growth.
Offering services such as cash flow analysis, tax planning, outsourcing advice and exit planning, a part time FD from The FD Centre can deliver Fairy Godmother-like assistance in a short period for a manageable fee, in an interim function, as a full time member of staff is found or as a long term solution for the budget-conscious without full time salary resources.
By eliminating areas of unnecessary spending, tweaking money making strategies and revisiting the internal financial workings of your business, a part time FD can help explore areas of potential weakness and strength can be used to identify areas of opportunity with reachable goals.
Helping you push through the wave of economic uncertainty rather than sinking with it, a part time FD from The FD Centre can aid with economic survival and economic growth.