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5 Reasons to Use a Finance Staffing Agency

According to the U.S. Bureau of Labor and Statistics, employment for business and finance occupations are projected to grow 7% in the next decade – faster than the average for all occupations.

As the demand grows for finance and accounting professionals, so does competition for recruiting top talent. That’s why many companies are partnering with finance staffing agencies as a way to tap into their specialized, prescreened pipeline of candidates. Here are a few reasons why you should consider it, too.

1. Leverage expert knowledge of the profession

As the business and technological landscape changes, so do the roles of finance and accounting professionals. Once a job confined to maintaining balance sheets, the responsibilities of finance professionals have grown to include governance, risk management and even profit control. This fundamental shift has also changed the desired skill set in the field. Beyond discipline, integrity and accuracy, finance jobs now call for communications expertise, an understanding of how to manage regulatory risk, and the ability to use specialized technology. A finance staffing agency understands the professional nuances that make candidates successful.

2. Scale-up with ease

Many companies choose to operate with a basic finance department for essential day-to-day tasks. However, when seasonal cycles, special projects or new regulations are introduced, these teams are rapidly stretched beyond capacity, leading to burnout and turnover. If you have a financial staffing agency standing by, resource shortfalls can quickly be resolved.   

3. Leverage a specialized network

Staffing agencies that specialize in an industry or profession develop an expansive network of candidates within their field, and candidates find a variety of benefits from working with staffing agencies. Some leverage an agency for market expertise and hand-picked job opportunities. Some enjoy the flexibility of contract work. Others may use an agency to help foster a career change. By developing long-term relationships with candidates, a staffing agency is often best positioned to provide suitable, pre-screened candidates quickly.

4. Reduce costs

Hiring can be costly in terms of time, risk, resources and money, but partnering with a staffing agency helps mitigate these factors. Because staffing agencies maintain a pipeline of qualified candidates, recruitment is expedited, saving time. The risk of a costly bad hire can be reduced by leveraging staffing services for temp or temp-to-hire positions. The need for support from human resources is minimized since the staffing agency handles the recruitment effort, and some new hire costs are absorbed by the staffing agency, such as benefits and the burden of unemployment claims, providing cost savings, too.

5. The labor market is tight

A complicated tax and regulatory environment, a strong and growing economy, as well as globalization, are driving demand for accounting and finance professionals. The job market is tight and workers are in a position to make demands. Because contract work may be perceived as unstable, it is less appealing in this environment. As a result, consider direct hire recruiting – enjoy the perks of using a staffing agency for recruitment, but offer the candidate a full-time position, direct with your organization, signaling greater job security.

To learn more recruiting accounting and finance professionals, call 888-670-1844.

Hiring Trends for 2020