The temporary work market is expected to grow nearly six percent over the next year. This is an astounding statistic. Too often, people associate temporary work with unskilled labour, but this myth is being debunked as more companies are seeking ways to get jobs done without hiring full-time staff members. Doctors, lawyers and even finance majors are finding temporary work with companies of all sizes. Employees are finding that temporary work is providing opportunities they did not expect including:
Flexibility – temporary employees often have more flexible work schedules; working hours customized to their schedules
Diversity – many temporary employees are more satisfied by their work because it is not routine. Many employees work a few weeks at one company and move onto another
Experience – temporary employees often find they can gain new experience working for a number of different employers in various fields
WHAT ABOUT THE FINANCE INDUSTRY?
Those who have training in finance may be pleasantly surprised to discover the number of opportunities that are available on a temporary basis. Companies who need accounting help typically do not rely on this group of employees on a daily basis. In general, accounting professionals are needed to prepare month-end or quarter-end earnings statements, help with budgeting or help with annual tax accounting. In most cases, keeping staff members full-time is simply not worth the expense.
FINANCE DEPARTMENT PART-TIME OPTIONS
Clearly when you need staff members to deal with accounts payable and accounts receivable, you need them in place full-time. Small companies may benefit from using temporary workers for all their basic accounting needs without ever hiring a full-time staff member to deal with even everyday accounting tasks. However, there are numerous finance recruiters who have suggested that there are specialized accounting jobs that could be done on a part-time basis by temporary work staff even in larger companies. Some of these include:
Chief Financial Officer (CFO) – Depending on how much interaction a CFO has with the day-to-day operations of a company, it may be beneficial to elect to hire someone on a temporary basis. This is true for mid-sized and large (non-public) companies
Accounting managers – If your company sets up an annual budget and operates within that budget, you may not need a full-time accounting manager on staff. This could be a great opportunity to save money by using a temporary worker to fill this position and set up a specific schedule of perhaps two to three times per month
Tax accountant – In general, companies need tax accountants for filing quarterly and annual tax reports. Because of this, there is often no need to have a tax accountant onstaff full-time. This is a great opportunity for companies of all sizes to depend on temporary help
WHY FINANCE RECRUITERS THINK TEMPORARY WORK IS BEST
Temporary work has a dual-benefit, for both the employer and the employee. Not only does it allow the employer to keep their costs down, but it prevents employee burnout. Additionally, by using temporary workers, a company has the advantage of always getting a fresh set of eyes and a fresh perspective on their overall financial health. As well as this, companies find they have to invest less in benefits, training in such things as soft skills and on-site resources.
Today, there are far less companies who can hire a person and keep them until they retire. This is due in part to their being more competition between companies to get the best-skilled employees and in part because employees are unlikely to want to stay in one company for their entire careers. Companies can hire finance recruiters who can help them fill all their accounting needs with well-qualified candidates and not have to be concerned about a long-term commitment to that employee.