As we gear up for year-end, preparation is key. While it’s no easy task for business leaders to navigate economic changes at any time of year, it’s crucial to look ahead with a broad scope and take ample time to strategize the year-end process in today’s climate now.
Projects such as budgeting and forecasting, audit preparation, 1099 work, financial reporting and other requirements call for your team’s extensive and often exhaustive productivity levels.
As a result, many companies are left with teams in need of a break. Finance managers must look at all options for completing year-end goals—specifically, calling on contract professionals to bridge some gaps.
We thought it was a great time to discuss how contract workers can supplement much of your existing and future workload. Read ahead for 3 Reasons to Engage Contract Labor Now for Year-End Projects.
- Your team needs a much-deserved break.
It’s no doubt the past few years have been unlike other years in recent history. Because of this, many professionals are burning out. From work-life balance struggles to other stressors, even the toughest professionals have had their share of difficulties. Now might be a good time to ease their load and bring in some temporary resources. Contract professionals are experienced in short-term projects and can get things done quickly and efficiently. These extra hands can tackle essential tasks that will keep you on track for year-end and give your permanent team some breathing room.
- Unemployed professionals are at the ready.
While unemployment rates are low, many professionals are seeking work due to recent layoffs, furloughs and reductions in hours. Further, many professionals have opted for consulting or gig roles instead of direct-hire opportunities and often roll off from one project to the next. We know the demand for top talent is as rich as ever. Now might be the best time to bring on additional professionals who are experts in year-end projects and can complete the workload promptly and accurately. Contingent labor professionals usually have a minimal ramp-up time and can get right to the responsibilities at hand. You will also be employing individuals who may really need the income—a win-win.
- You can get a leg up on next year.
When you decide to employ contract professionals or consultants, you can evaluate their short- and long-term performance. While you may not be able to hire additional full-time professionals at the moment, you can look ahead to the new year, when circumstances may differ. Testing out the talent and observing their work on temporary projects can ultimately help you decide if you want to hire them permanently. Again, as more businesses restructure or implement employee changes, more experts will be ready for their next position or project. Employing individuals on a contract basis first is a great way to transition them later to a more permanent role.
If you need year-end support, please Contact Us, and a Brilliant team member will reach out to you as soon as possible.
Looking for a full-solutions approach? We can help you strategize. Call 312.582.1800.
What are some other reasons to start planning now and leveraging contract resources? Leave your thoughts in the Comments below!