Why Hiring Interim Finance Consultants May Be the Solution When You’re Struggling to Find a Permanent Team Member
Anybody trying to hire finance and accounting talent right now knows that it’s pretty tricky. While companies might be tightening budgets and reevaluating forecasts, there are still many hiring – especially in finance and accounting functions. Unemployment rates in Canada are at an all-time low and it’s very much a candidate’s market. In other words, there’s still more demand than available talent.
We’re also seeing a lot of mismatched expectations between hiring managers and finance professionals. Candidates are looking for healthy salary increases and WFH options, but many employers are offering more conservative compensation packages and looking for talent to come into the office more frequently. We’re also seeing higher-than-average counter offers.
So is it possible to hire a great Director of FP&A or Controller right now? Absolutely! But it could take a few more weeks than expected to find somebody great. So what should you do in the meantime? Getting further into the weeds is definitely the wrong answer.
On-demand, pay-as-you-go finance consultants are the perfect solution for short-term support while you look for a perm hire.
For starters, interim finance consultants are faster to hire. At Clarity, we have a roster of finance and accounting consultants with a wide range of skills and experiences who can often be deployed into your business within a couple of days.
Interim finance consultants also have the experience and expertise to fill the gap quickly. They know how to quickly assess situations and start working on projects and initiatives immediately, providing valuable insights and expertise that can help the company grow.
Interim finance consultants are typically highly experienced finance professionals who have worked across a variety of industries and sectors. They bring a wealth of knowledge and expertise to the table, which can be invaluable in helping companies achieve their growth objectives.
Finance consultants are often brought in to manage specific projects or initiatives
Some reasons our clients have brought in contract help is for support on projects such as implementing new financial systems or processes, managing mergers and acquisitions, or conducting due diligence. Accounting consultants are often hired to help with month-end or year-end reporting and are often great at ramping up quickly and improving processes as they go.
In fact, senior finance consultants can help scaling companies clean up their reporting and put the right systems and processes in place to move the company forward and then help them find a less experienced (and usually a less expensive candidate) to keep the train on the tracks.
Finance and accounting consultants usually have expertise in assessing and optimizing financial processes and systems, and look for ways to reduce costs and increase efficiency. By providing valuable insights and recommendations, interim finance consultants can help companies make informed decisions that support their growth objectives.
With strategic growth projects, a lot of our clients opt to hire fractional or interim leadership to provide oversight. Interim finance leaders have often been in similar situations under similar circumstances and can help companies grow by providing strategic financial guidance. They can assess the company’s financial health, identify areas for improvement, and develop strategies to drive growth.
Experienced executive consultants can initiate a knowledge transfer to prepare new and existing team members for continued success
The types of executive consultants we will help you hire can also work with existing finance teams to develop their skills and expertise, and help them become more strategic in their thinking. They can also provide guidance and support to new hires, helping them get up to speed quickly and contributing to the growth of the finance function overall.
So if you’re weeks into a candidate search and still haven’t found the perfect hire but need help now, interim finance and accounting consultants can be invaluable to companies looking to grow quickly and efficiently. They bring a wealth of knowledge and expertise to the table and provide strategic financial guidance, optimize financial processes, and support finance teams.
Find the right consultant now. We’re here to help.