When it comes to gearing up for year-end, starting to prepare early is key. While it’s been no easy task for business leaders to navigate the changes occurring this year, it’s crucial to continue to look ahead with a broad scope. Taking ample time to strategize the year-end process is imperative in today’s climate. Projects such as budgeting and forecasting, audit preparation, 1099 work, financial reporting, and other requirements call for extensive and often exhaustive, levels of productivity from your team.
Therefore, many companies who have already been dealing with sensitive issues are left with teams perhaps in need of a break and not a ramp-up. It’s important for finance managers to look at all options for completing year-end goals—specifically, calling on contract professionals to bridge some of the gaps.
I thought it was a great time to start the discussion on year-end support and all the ways that contract workers can supplement much of the coming workload. Read ahead for 3 Reasons to Start Preparing for Year-end Project Load Now.
- Your team needs a much-deserved break.
It’s no doubt this year has been unlike any other year in recent history. Because of this, many professionals are having a hard time coping with the global pandemic. From childcare issues to health care issues to emotional stress, even the toughest of 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 important tasks that will keep you on track for yearend and give your permanent team some breathing room.
- Unemployed professionals are at the ready.
With historically high unemployment rates, there are millions of professionals seeking work due to COVID-related layoffs, furloughs and reductions in hours. Contrary to the last eight years or so, the supply of high-quality talent is as rich as ever. Now might be the best time to bring on additional professionals who are experts in yearend projects and can complete the workload in a timely and accurate manner. They will likely also have a minimal learning curve 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 make the decision to employ contract professionals or consultants, you can evaluate their performance for both the short and long-term. While you may not be in the position to hire additional full-time professionals at the moment, you can look ahead to the new year, when circumstances may change for the better. Already being familiar with the talent you’re seeking after having them for temporary projects is the best way to decide if you want to hire someone permanently in the future. Again, as more professionals face unemployment, many experts are out there ready for their next position. Employing them on a contract basis first is a great way to transition them later for a more permanent role.
If you are in need of yearend support, please Contact Us and a Brilliant team member will reach out to you as soon as possible.
What are some other reasons to start planning now and leveraging contract resources? Leave your thoughts in the Comments below!