Project and contract-based hiring is ramping up, but how many UK organisations know how to maximise the value of that interim talent?
More than flexible, scalable access to niche expertise, interim finance talent is essential for upskilling current teams via knowledge sharing. Failing to retain or document that specialist knowledge after the contract ends is an oversight that could affect L&D costs, business continuity, and future growth.
Our experts give 4 best-practice methods you can use to retain knowledge before it walks out the door.
What does “legacy knowledge” mean in finance functions?
Finance teams are changing. Their evolving role within the business has grown to encompass ESG and new reporting standards, data governance, and AI solutions for real-time modelling, FP&A, and more.
In many cases, this push for business transformation requires experienced interim consulting to guide the way — 43% of finance and accounting functions plan to hire contract talent in H1 2026, and 53% plan project-based hiring.
Read more: How finance and accounting roles will change over the next five years
Today’s interim finance professionals aren’t just stepping in to provide BAU support; they’re rolling out systems, processes, and transformation initiatives to move the finance function into a future-ready position.
More than simply learning new systems, permanent staff will need to become AI- and data-literate, educated on an emerging risk and compliance landscape, and embrace entirely new ways of working that include cross-functional collaboration. In today’s finance function, ‘legacy knowledge’ encompasses systems, workflows, and the blending of traditional financial knowledge with new tech.
The risk of knowledge loss with interim finance hires
Finance functions are especially vulnerable to knowledge loss during periods of drastic change, such as the adoption of new systems and financial processes. This is exacerbated by remote or hybrid working, which can make structured knowledge sharing more complex if not owned and overseen by senior business leaders.
Failing to capture and record legacy knowledge also impacts business continuity.
For example, hiring a specialist to implement a new AI-based system could leave the finance function - and therefore the entire organisation - vulnerable if the system should fall over or experience issues.
Moreover, if you want the project, process, or system to evolve with your business over time, staff will need in-depth knowledge of its capabilities and potential. It’s within the best interests of the Chief Finance Officer to unite with the Chief People Officer or Chief Transformation Officer to create a detailed plan for knowledge transfer before the interim hire is confirmed.
Read more: How alternative labour market models could increase future readiness
Best practice knowledge transfer methods
Milestone check-ins
One of the most effective ways to ensure knowledge transfer throughout the project or contract is to embed milestone check-ins into the timeline.
Meet with your interim hire before project kick-off to agree on which essential elements must be passed on at each milestone and regularly check in with full-time employees to ensure these goals are met.
Objective-specific mentoring
Consultants are experts in their field, and there’s a good chance they had a mentor at some point during their career and may be keen to pay that experience forward.
Be strategic about the employees you include in mentorships and specify what you want them to take away from the arrangement. For example, an up-and-coming financial executive could learn what it takes to lead the finance function from an interim CFO.
Business systems analysts can gain leading-edge insights from a consultant with proficiency in multiple systems.
Assign high-potential staff to shadow your interim
High-potential succession candidates in your organisation should have consistent and frequent interaction with your consultant - they will essentially become your knowledge carriers.
Identify staff who have worked hard to motivate and inspire their colleagues and keep important initiatives on track. These are the people who will absorb the most from financial consultants by collaborating closely with them throughout an initiative.
Formal debrief and work handover
Ask the consultant to share key learnings with your staff as the project winds down. For instance, if you worked with a consultant to implement a new system, it’s beneficial to cover how it could evolve and grow over time.
Similarly, it’s wise to cover processes/protocols for system failures or cybersecurity incidents. Consider everything your team will need to know to carry the project forward from strength to strength, rather than simply using it day to day.
Tell us about your interim finance hiring needs today to be matched with top professionals across the UK. To learn more about preparing your team for the future, visit the Robert Half Future of Finance hub today.
