Hiring, Insight

The Real Reason CFOs Are Struggling to Get Hired and How to Fix It

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CFO job searches aren’t delivering the results they used to.

Applications vanish into crowded inboxes. The market moves slowly. The few openings that do exist are fought over by candidates with similar experience, making it harder to stand out.

At RecFest 2025, STOIX co-founders, Neil and Rory, tackled the question of how CFOs can find their next opportunity when the market is slow and competition is high.

Their answer was direct. The CFOs finding success are the ones who keep themselves visible and connected, then follow a clear plan for how they approach their search.

It’s a Slow Market Out There

Neil explained, “I speak daily to CFOs and finance leaders who are struggling to get traction in the market, they’re finding it very slow indeed.”

“The volume of opportunities simply is not out there given the current low growth, particularly in the UK and Europe, high interest rates, slow deal making and M&A activity in a lot of the private equity space.”

Opportunities are concentrated in only a few sectors. “Unless you happen to be again within the software, SaaS, AI, health tech. There’s still a few hot spaces. But generally speaking, it’s pretty tough.”

The Myth of a Single Fix

“There’s no silver bullet,” Neil said, “but I mean, number one, networking is crucial.”

He noted that many CFOs have a dated picture of what that means. “For a lot of people, they maybe have a slightly antiquated view of what networking is and what it isn’t. What it isn’t is sort of being in an old hotel room with some business cards and lots of pieces of plastic and feeling sort of awkward and trying to strike up conversation.”

“If you’re a highly experienced software or SaaS CFO or have any artificial intelligence angle, you’re in demand. Those people are highly sought after, they’re in short supply. Many of the good ones are in a mid cycle. A lot of these cycles have been pushed out now to five and seven years rather than historically two and three years. So that competition remains quite high. It is a given now that the CFO needs to be a strategic CFO.” – Neil French, Co-Founder of STOIX

Keeping Your Network Alive

Neil described networking now as “a multi-channel approach in 2025.”

“You need to obviously stay close to your own existing network. 35-40% of senior appointments come from your own network so I think people will do well to remember that.”

He advised staying engaged in simple, human ways. “That can be just going for a cup of coffee, going for a beer, going for a walk with some people that you haven’t caught up with recently and with no ulterior motive other than to really catch up and find out what’s going on in their world, seeing if you can help them.”

“And, you know, ultimately those sort of things do come around and do spark conversations.”

The Shift in Candidate Expectations

Rory added, “There’s a massive shift for people when they go from being in a role to being on the market, because actually, you realise how much your network was working for you without you knowing.”

“Whether that’s people reaching out to you on LinkedIn, people approaching you about things, being invited to events, speaking to other CFOs, speaking to other private equity houses.”

Proactive, Not Passive

Neil stressed the need for planning. “You have to put a strategy together for your search. Think about your week ahead and who you’re going to contact, what events you’re going to, what groups you’re going to join. You can’t just do the same things over and over again and expect a different result.”

Working With Recruiters

Neil advised, “Pick two or three that you’ve got a good relationship with, who genuinely understand your background and what you’re looking for.”

“They don’t work for you, they work for their client, so they’re not sitting there every day thinking, ‘How do I find a job for this person?’”

Rory followed by saying, “Have a clear narrative, know what you want, and be able to articulate that well.”

Using LinkedIn Well

“Your LinkedIn has to be clear, it has to be aligned to the roles you want,” Neil said. “If you’ve got twenty different things you’ve done in your career, make sure the ones you want to be known for are at the top and easy to see.”

He encouraged being visible. “Post things, comment on things, add value to conversations. People need to see you and be reminded of you.”

“I’m speaking to CFOs that are frazzled, burnt out because they’re asking to do so much. They’re asking them to be here, to be down here, a Swiss Army knife in many respects.” – Neil French, Co-Founder of STOIX

Warm Introductions Carry More Weight

Rory shared, “If someone introduces you to a CEO or a private equity partner and says, ‘You need to speak to this person,’ you are automatically in a completely different category to someone who’s just applied online.”

Expect Ups and Downs

Neil reminded, “You might have some weeks where nothing happens, and then you get two interviews in one week. That’s normal, so don’t panic and change your strategy every time you have a quiet patch.”

“If you’re doing the right things, keep going. The market will move.”

Final Thoughts

After a full conversation on the realities of today’s market, Neil and Rory’s advice circled back to a few consistent actions. They stressed that while there’s no single fix, there are clear steps CFOs can take to improve their chances in a crowded field.

Here’s what they suggested:

  • Keep your network active through regular, genuine catch-ups with people you know, without any hidden agenda.
  • Plan your search week by week, including who you’ll contact, which events you’ll attend, and which groups you’ll engage with.
  • Work with a small number of recruiters who understand your background and goals, but remember they represent their clients, not you.
  • Make sure your LinkedIn profile clearly reflects the roles you want, with the most relevant experience easy to find.
  • Stay visible by posting, commenting, and adding value to conversations so people are reminded of you.
  • Prioritise warm introductions, as a personal referral can put you in a completely different category to an online applicant.
  • Accept that the process has quiet spells and busy bursts, and avoid changing your approach based on short-term results.