The UK economy suffered a real shock with the credit crunch and since 2008 business has changed, SME owners in particular are very cost conscious and are less likely to commit to expensive senior team members.
This change has led to a dramatic growth in Portfolio roles including those of Portfolio Finance Directors. A portfolio FD is a an FD work works for more than one company at the same time on a part time basis. They have more than one part time role at once and therefore they work more or less full time but theirs skills are spread across more than one employer.
This has many advantages for all concerned.
For the employer:-
- Costs are lower
- Skills are paid for when they are needed for example at budget, year end or times when fund raising is needed/
- A far higher level of skill and expertise is available to them than they would otherwise be able to afford or attract as smaller businesses are not so interesting for high flyers.
For the employee
- The daily rate is higher reflecting the flexibility required
- The work is more focussed
- The tasks often are higher skill ones better matching to the skill set of the FD concerned.
- Work is more interesting as it is refreshing to work with different teams who have differing demands and requirements
This whole area is a great example of how flexible working can be in everyone’s interests.
The credit crunch has pushed more and more businesses to challenge their costs and in doing so has created a growth industry for this niche area of Financial Recruitement.