The media and economists all have their predictions, but no one really knows how long this economic downturn will last or what prolonged effects companies will endure. Something we do know: Accounting and finance jobs are critical during times of economic uncertainty. Sales may yield revenue, but accounting and finance specialists track immediate results and help with long-term forecasting.
The events of 2020 have altered society in many ways, including what we consider meaningful and absolute. Many companies have cut costs dramatically with reductions in headcount. Payroll is always a significant item on the P&L statement, highly scrutinized in difficult times and a tempting place to make dramatic cuts.
Trimming down departments or imposing hiring freezes can create extra demands for current employees dealing with COVID-19 and recession-induced stress. Piling on additional responsibilities can cause huge strains on employees and can put retention in jeopardy.
Companies need options, transparency and resources to survive in this volatile economy. At Alliance Resource Group, we believe this current climate is an ideal time to employ temp consultants. The danger of missed deadlines, financial reporting mistakes and an erosion of morale is real. There are serious consequences for not hiring essential help.
Here are seven reasons to invest in temp consultants:
1. Temps save you time, and time is money. If you need someone now, that means immediately. Hiring a permanent employee can be a lengthy and expensive process. A fully vetted temp can provide value to your business starting today.
2. Temps bolster staff retention. Giving excess work to already stretched and stressed employees is not optimal. Hiring a temp can ease pressure for the entire team, support surplus work and help move the company forward.
3. Experienced temp consultants need relatively little hand holding. They are hired to hit the ground running with “been there, done that” job knowledge. This saves precious training hours and allows hiring managers to focus on their own responsibilities.
4. A vacated job may require a permanent solution and thorough search. Take the pressure off and “date before you marry,” postponing formal commitments or costs associated with a permanent hire. Employing a temp serves immediate needs while giving you time to evaluate their job performance for potential long-term employment.
5. An excessive workload may be the current reality, but job requirements can rapidly fluctuate. Hiring temporary help takes care of the tasks at hand without the obligation for permanent employment.
6. Tried and true consultants go with the flow and do whatever is necessary to address issues and provide solutions. Temps often have more flexibility than permanent employees. They can work remotely or in the office, onboard virtually and easily change direction on projects as required.
7. The future is uncertain. The marketplace is full of companies in different conditions—some prospering, others hit hard from the pandemic. Justifying a permanent hire right now might be challenging. Bringing on a temp consultant can ease workload burdens and help business and employees thrive now.
Whether you’re in need of basic accounting support or senior-level finance talent, we can help you find the optimal temp for your unique needs.