As the end of the year approaches, many accounting departments find themselves struggling to keep up with the increased workload that comes with closing out the books. One solution to this problem is to utilize interim (contract) labor for year-end support.
There are several reasons why utilizing interim labor for year-end support can benefit accounting departments:
Hiring contract workers allows for flexibility and scalability.
- When you bring on contract workers, you can easily add or remove staff as needed to meet the demands of the season. This means that you can bring on extra help during the busiest times and let workers go once the workload subsides.
Utilizing interim labor can save your company money.
- When you hire contract workers, you only pay them for the hours they work. This means that you don’t have to worry about providing benefits or paying for unused vacation time. Additionally, you can negotiate rates with contract workers, which allows for additional price flexibility.
Hiring interim labor allows you to bring in specialized expertise.
- When you bring on contract workers, you can select individuals who have specific skills and experience that can help your team during the year-end rush. For example, you might hire a contractor who is an expert in a particular accounting software or another that is specialized in SEC Reporting.
Adding additional support allows for your team to be less burdened and ensures they do not become “burnt out”.
- Staff turnover tends to peak right after busy season, especially at companies that do not bring in additional resources to assist them. While some are built to put in 60, 70, or 80 hour weeks, many feel the overwhelming pressure that comes from working those hours when trying to balance their familial obligations.
Overall, utilizing interim labor for year-end support can provide flexibility, cost savings, and specialized expertise to your accounting department. By bringing on this type of additional help, you can ensure that your team has the support it needs to successfully navigate the busy season.
If you are interested in bringing in year-end accounting support, The Alliance Group provides resources for either traditional Interim Accounting Staffing or specialized former Big 4 CPAs, available under Alliance Client Advisory. For more information, please reach out to jrollin@thealliancegroup.com.