When your company is experiencing resource constraints, proactively filling in the gap is very important for your business. Alternatively, there may be times when a surge of management needs arises for which your current staff may not be able to handle adequately.
Your business is built on a common network, dependent on the mutually beneficial relationships built by employees who all share a common direction and purpose. But what happens when those employees move on or need to leave the business temporarily to deal with life issues, or in some cases they are so overwhelmed that their productivity and morale are suffering?
Based on my experience from both sides of the topic, both as an financial analyst facing overwhelming needs by senior management, as well as a consultant filling in for other analysts, whom had either left the role or who were facing unachievable short term expectations, there is compelling reasoning behind reaching out for consultant resources when your business requires it.
Filling in for Resource Constraints – Why You Need Help
While it may be tempting to use your current employees to fill in for employees who are on leave or have left the company or to push your employees to produce more when requirements spike, this approach typically is detrimental to your company’s health. There are several reasons for this, including such important business health indicators as employee morale and productivity, as well as the risk of human error.
“Already short a critical finance team member, we found ourselves facing our first audit and significant business planning requirements. 9Gauge’s highly experienced finance manager worked with our team to satisfy the audit requirements and to drive our business planning model. Accurate. Professional. Efficient. Cost effective. We were very pleased with 9Gauge’s performance and won’t hesitate to bring them in again.”
– FloSports CEO & Co-Founder
A high reward / low risk solution to this problem would be to enlist seasoned financial consultants to fill in the gap when talent resources are stretched to the max. When weighing the pros and cons of spending some of your company’s cash on temporary consultants, take into account the potential long term effects:
- financial deliverables either not being completed, or getting completed incorrectly by staff who have not been properly trained, or who are too time constrained to complete the work satisfactorily
- ill informed decision based on incorrect data
- senior management and other stakeholders get data and reports with key information missing or that had to be scraped together at the last minute
- you risk unethical behavior to perform the work required in the set parameters
Unfortunately, the risks associated with being understaffed are too high to ignore. Making the conscious decision to use expert financial consultants to help your business through temporary resource gaps is a decision that will pay off with long term dividends by ensuring that your employees don’t spend valuable time playing catch up or correcting costly mistakes.
The all too common issue business leaders will face at some point is how to do more with less. Whether your issue stems from an employee’s departure, or from an unusual spike in demand, rest assured the solution can be as simple as using some short term assets to ensure long term success for your company.