In our staff’s 100+ years of collective experience, we’ve learned that finance is more about talent acquisition and retention than reports and complex models. In today’s business environment, Finance teams are overburdened and persistently asked to “do more with less.” They must take on more roles than time allows, and the dynamic of the last four years has only buoyed the trend.
Let’s face it – throwing a slight pay raise or bonus at the situation will not alleviate the pressures your staff feels. And when it comes to employees looking for a good “burden balance,” opportunities to escape the current situation are few… for now.
Soon, the domestic labor market will rebound, and your top talent will seize the first opportunity with an employer who touts greener fields, less stress, more pay, and better professional development opportunities. You’ve made significant investments recruiting and compensating your best talent and have provided them a wealth of opportunities to improve as professionals; however, the value of these investments has been greatly diminished during the economic downturn. You need to show your people that life after the recovery can be as bright and rewarding as it once was.
As we navigate this protracted economic recovery, perhaps the most salient course is to relieve some of the pressure by getting them some help. Adding flexible (temporary) resources during periods of peak workload will help your team continue to meet performance expectations but to do so with a reduced the likelihood of burn-out.
When we work with clients whose teams are overburdened we start by asking the following questions:
- What is the general morale of the team?
- What activities do staff regularly complain about?
- Which teams / individuals appear most overworked?
- What does the daily workload look like in these groups?
From this we distill the technical talent gaps and further refine needs through a series of fit related questions. Once we have a 360 degree view of the clients’ resource need, we present our solution: a pedigreed and experienced interim resource who will hit the ground and add value quickly. This resource remains with client as long as the workload requires greater than 100 percent of their team’s time. Along the way, the consultant implements workflow productivity improvements within the group with the overall goal of rendering themselves obsolete. The client releases the consultant back to us when the peak work period passes or the consultant works themselves out of the job.
With this approach, missions get accomplished, staffing issues remain under control, and – most importantly – employees feel both relieved and valued. And that helps keep key players on your payroll.