There is nothing new about accounting and finance teams needing contract professionals, staff augmentation support or some blend of those resources. The Brilliant® brand has been providing those types of solutions and has been thriving for more than a decade. And we all know the gig economy has boomed in popularity in recent years. Whether firms need extra support during peak seasons, times of turnover or for medical leaves, a flexible labor model can be a lifesaver for many businesses.
What is unique to the current COVID crisis is that finance leaders are now finding that engaging a third-party provider to help construct their teams is not only a choice—it’s critical to performing essential functions and sustaining business.
Now that professionals are being forced to work remotely, unfortunately, not every individual is being given access to the tools and technologies needed to conduct said work remotely. The need for work-ready resources could not be more in demand.
According to a recent Forbes article, “The pandemic is triggering significant challenges for many companies needing immediate support while executing contingency plans for key resources who, unfortunately, are unable to transition to a remote work environment. The challenge arises in any office location that has restricted travel and mobility and has not equipped employees with the necessary technology to work from home. It can also apply to key employees who develop symptoms and must tend to their personal care, further depleting available resources for the organization. This is a formidable global issue impacting practically every company in different ways, forcing them to fill critical roles right away.”
Before, now and even after the crisis eventually subsides, the finance function will continue to perform essential daily tasks such as check balancing, accounts payable and accounts receivable transactions, collections activities, credit card processing, month and year-end close, and more.
The way a team is structured is crucial. Enlisting the help of expert third-party providers such as consulting practices, executive search and staffing firms, and human resources companies to help maintain a flexible labor model can drastically help to sustain these functions and keep a business running.
What are your thoughts on a flexible labor model? I would love to hear them in the comments below.