When it comes to their accounting teams, all business owners and corporate executives know one thing for sure: Workloads ebb and flow throughout the year, and, at times, there is too much work to do and too few people to do it. There's a reason temporary staffing is often an appealing option.
Tax season can be especially challenging. Many accounting departments are slammed with work and need help to manage the burden of tax preparation. Some initiatives can be deferred or temporarily reassigned, but not all. As a result, more and more businesses are choosing to engage interim accounting professionals through temporary staffing firms to supplement core staff and reap the benefits of the extra support. Here are some ways accounting staffing agencies can help at tax time.
Get the skills you need now
With temporary staffing, you have access to the skills you need for the exact amount of time you need them. Say you require additional junior accountants to perform routine tasks but only until all the tax documents are completed and filed. A temporary accountant can get the job done, and then you can reduce staff levels once tax-related work has subsided.
An advantage of hiring through a temporary staffing firm is that its staffing specialists handle the candidate search and initial evaluation processes for you. When you can choose from a select pool of skilled accountants who already have the required expertise, you save time and can complete the work sooner.
Engage skilled specialists for projects
If your business is launching a new product, expanding into new territory or making a large purchase or investment, you may need help from tax accountants with specialized skills. If you don't have these experts on staff, you'll need to hire outside help — but these projects may not require additional full-time employees. It makes sense in these situations to hire an interim accounting professional to guide you through the transition, especially if it coincides with a busy season like tax time.
Pick the best of the best
Some of the most highly skilled accounting professionals are turning to temporary staffing firms because of the flexibility working on a project basis affords them. In turn, businesses are able to hire the crème de la crème for special projects or limited time periods without the burden of a full-time salary and benefits for high-level employees.
Your core staff may be an ace team of brilliant accounting professionals, but they're not machines. Piling on the work can lead to exhaustion, frustration and burnout. Tax season is stressful for many people, and increased workloads exacerbate that stress. Improve team morale and retain your employees by delegating overflow work to temporary staff.
It's unwise to try to muddle through tax season while understaffed, because the financial penalties of late filing can be steep. Take the time to assess whether you should work with accounting staffing agencies to hire supplemental temporary staff.