Finance and accounting teams often encounter projects that require unique resources and tight deadlines, yet overwhelmed team members may overlook a possible solution. While traditional staffing typically involves a lengthy hiring and onboarding process, interim staffing can quickly provide curated talent that has been selected and tailored to address unique and urgent situations. In the following article, we explore how the strategic use of interim staffing can offer flexibility and access to specific skillsets that can help with special accounting projects.
Why Are Special Projects . . . Special?
Projects that fall outside of normal accounting procedures can present daunting obstacles for finance and accounting teams to overcome. For example, the following types of projects can stretch in-house resources to the limit:
- Short term projects that require a temporary burst of activity or temporary employees.
- Urgent projects with extremely short deadlines.
- Unusual projects that require special skills not typically held by in-house finance and accounting teams.
- Temporary staffing gaps caused by a talent shortage or the loss of key employees.
Special projects may arise unexpectedly or as part of routine operations. Whether predictable or not, in-house teams must achieve project-specific goals efficiently and on time while continuing with normal finance and accounting functions.
How Can Interim Staffing Help Organizations Achieve Business Goals?
The strategic use of temporary employees can address what makes a project special and provide value-added services in several key areas:
Flexibility and Scalability
Staffing demands often fluctuate, even without the added pressure of a special project. At times, an organization might need additional workers but only on a temporary basis, and the need for certain skillsets may vary based on the work at hand. Through strategic deployment of interim staff, an organization can adjust its workforce according to the specific requirements of a project, which can help ensure the right number of personnel at any given time while potentially avoiding overstaffing. Such flexibility can ensure that projects are completed efficiently without overburdening permanent staff.
Access to Niche Skills
Some special accounting projects may demand skills not typically available from an existing finance and accounting team. Bringing in knowledgeable and experienced professionals for temporary assignments can provide an organization with skillsets that apply to the project's specific requirements. The influx of knowledge and experience interim staff bring to an organization can be crucial for the success of a project.
Cost Management
Hiring permanent staff for short-term needs can be more costly than using interim staff. The costs associated with recruiting, training, and retaining permanent staff can be significant and potentially unnecessary for long-term operations. Opting for interim staffing for finance and accounting functions can allow organizations to avoid these expenses and pay only for project-related workers.
Operational Efficiency
Finally, bringing in professionals to handle special projects may do more than reduce overhead costs. An organization that strategically employs interim staffing may allocate its other resources more efficiently, allowing the company’s permanent workforce to focus on core business activities. The organization also has the opportunity to forge a long-term relationship with an interim staffing provider, which can facilitate faster startups for future special projects.
What Are Best Practices for Successful Interim Staffing?
The decision to bring in temporary staff requires careful consideration; employing the following best practices can help an organization capitalize on the experience:
Clear Project Goals and Expectations
Define clear project goals and expectations so that interim staff fully understand what is expected of them and the project’s objectives. Doing so can help align their efforts, contribute more effectively, help reduce errors and misunderstandings, and improve collaboration between interim staff and permanent employees.
Effective Onboarding Processes
A well-structured onboarding process is crucial to integrate interim staff quickly and efficiently. Organizations should provide interim professionals with the necessary tools, resources, and information to perform their roles effectively, including access to relevant systems, documentation, and training on company policies and procedures. An effective onboarding process can accelerate the integration of interim staff into the organization’s operations and enhance productivity.
Continuous Communication and Feedback
It is crucial for organizations and interim staff to maintain open, two-way communication, especially considering the unpredictable and urgent nature of many special projects. Continuous communication can keep interim professionals apprised of changes in project scope or objectives so they can adjust their efforts accordingly. Likewise, professionals brought in from an external source may provide fresh, objective viewpoints and alert the finance and accounting teams of any areas of concern.
Interim Staffing Can Provide Tried and Tested Resources for Unpredictable Situations
How can interim staffing benefit your finance and accounting teams during challenging times? Please contact our F&A Strategic Resources team to learn how to tackle special projects with the temporary assistance of the seasoned professionals available throughout BDO’s global network.