The end of a year can be a time to reflect on your business and start to put plans into place for 2017, this may include your team and resourcing.
A New Year can create an opportunity to re-think how you did things last year. What worked and didn’t and how to develop the talent within the business to support the future plans. However, all too often the wheels of business, whether it’s your own or not, continue to turn and you run with it and often pick up where you left off. Perhaps you get caught up in the first crisis and all thoughts of that new approach\regime disappear out of the window.
When it comes to recruiting staff there is a new approach which, according to some recruiters, is proving more popular with small, owner-managed businesses and that’s to outsource. Whether the business is growing or perhaps there is a gap due to someone leaving or you have to deal with underperformance issue, the default behaviour is to recruit for the same role but there are options which could work so much better for your business.
Let’s look at these two scenarios in isolation and use a couple of examples to demonstrate, I will be using the Accounts function as my test case.
Recruiting due to Business Growth or Change
Business A has been growing for a number of years, which has seen their headcount steadily grow and currently finance consists of a Bookkeeper and Financial Controller. Both of these roles are over capacity and the business owner decides they need to bring in a Director to head-up the Accounting function, so must recruit. Whilst the business may need this level of support it can’t really yet afford it and that level of resource isn’t really needed full-time, but there is a need, finance is very important, therefore, they must need someone full-time. As a recruiter I am contacted by the business owner looking for a Finance Director and I am only too glad to provide them with what they want. There may even be some further business, as I know when a new person is brought in this often adversely affects the current team, which might create new opportunities.
Solution: A part-time Financial Director covering all the high-level work, whilst mentoring the Financial Controller such that they are ultimately able to become your full-time Finance Director.
Recruiting due to Person Leaving or Underperforming
Someone in the Accounts Department hands in their notice, you don’t know why, feel let down and frustrated, as obviously this means you are going to have to find a replacement. An alternative scenario is that a member of the Finance function, who has always been efficient and well regarded, starts underperforming. This continues for some time and you are thinking that you might have to recruit anyway. Firstly, in both these cases it is imperative you find out the underlying cause, which you may be able to change, often without having too much and the problem and need to recruit goes away.
Solution: A part-time Financial Director may be able to mentor someone, who was only looking to leave because they were so nervous about a new aspect of the role.
I am a seasoned recruiter, like medalling with things and always look for an alternative solution. Part-time portfolio resource is the alternative and is available across all the business disciplines. The whole employment landscape is changing and will continue to do so. Whilst individuals, your employees, are already understanding this and taking ownership of their own careers, businesses are slow to look for alternative solutions. So don’t overlook outsourcing!
For an initial free 1 hour consultation please contact me at FinanceHeads.
Business Development Manager