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What 2020 has taught us about the importance of contingency resources in finance and accounting

finance, accounting, temporary hiring...

If 2020 has taught us anything it is to expect the unexpected. Businesses will be going into 2021 lean and risk-averse, yet must also allow for growth plans within their strategy. How can these juxtaposed positions be achieved? Agility will be key, as well as reliance on contingency plans and resources.

Effective collaboration between key business functions finance and accounting, IT and tech will also be crucial.

Retain flexibility with Finance and Accounting contract staff as part of your recruitment strategy

One of the most effective ways to deploy an agile strategy is to develop growth plans and related projects with a leaner permanent headcount than would normally be necessary for it, with plans for a contingent workforce if and when such projects are rolled out. This means investing only when the time is right, when your own balance sheet and the wider economy are healthy, rather than spending first and risking loss of profit (and staff) if situations arise that make such plans untenable.

The benefits of contract staff for your Finance and Accounting recruitment

  • Cost-effective

Utilising contract staff only when necessary means hiring when profit is healthy and the workforce therefore affordable, and only paying for work and skills for the time they are required. It allows far greater control over staff spend, not only that, it greatly reduces the need for costly recruitment campaigns and processes.

  • Diversifying available skills

Employing interim staff isn’t about finding a dream match in terms of cultural fit, personal growth and career trajectories within your business – it’s about acquiring the specific skills you need, fast. This means you are able to access diversely skilled candidates without the time and investment needed to nurture and develop permanent teams to the shape and skill set you desire.

  • Provide support for a backlog of deadlines

With the need to furlough and streamline a reality for most businesses in 2020, this has meant a backlog of work and deadlines, either for growth or simply to maintain the status quo. While many will go to in 2021 unable to rapidly upscale a permanent workforce from nowhere (due to time as well as financial pressures), finance and accountancy interims can provide a much-needed resource to fill such gaps.

Get fast contract support with a recruiter:

Engaging a specialist recruiter is the quickest and most cost-effective way to find high-calibre finance and accounting interims, as they have an established network and large portfolio of candidates available either soon or immediately.

These are trusted, skilled candidates who have been deployed before and are already vetted by the specialist agency.

A specialist recruiter may also be able to help with your recruitment strategy – they can assess your short, medium and long-term finance and accountancy recruitment needs, and through discovering the relevant skills and experience needed can make suggestions on how to build an effective recruitment strategy. Utilising their extensive networks they will source, interview and vet candidates to help shape the ideal team and balance of permanent and contingent staff.

At Edward Mann our extensive networks and database means we are able to source high-calibre temporary, contract or permanent candidates to suit the specific needs of your business, ensuring you have the talent you need to grow. Our trusted roster of high quality, vetted temporary and contract candidates means you are able to access a skilled workforce quickly and cost-efficiently, streamlining your recruitment processes and spend.