Filling in the gaps - Facilitating growth with an outsourced finance function - PAGES - Flipbook - Page 8
8 | Facilitating growth with an outsourced 昀椀nance function
ADDRESSING THE TALENT
SKILLS GAP
Even once you know which role you need to 昀椀ll, there is a big skills
gap in the 昀椀nancial services industry, with professionals being hard
to 昀椀nd, expensive, and challenging to retain. It can be especially
di昀케cult for smaller businesses to compete in the talent wars, making
it even more challenging to get the right experts in to your business.
So even when you decide you need to hire someone for a speci昀椀c
role, it can take months to 昀椀nd the right person – but hiring the wrong
person can have much more serious consequences, so recruitment
is not something to be rushed. Outsourcing helps reduce the strain
so that you can focus on your business, in the knowledge that your
company’s 昀椀nances and administration is in safe hands.
MITIGATING RISK AND FINANCIAL
PRESSURES
Finally, there’s no denying that recruiting is more expensive than
ever before, with rising business costs like National Insurance all
impacting the bottom line. The cost of working with a recruitment
agency can also add 20% of 昀椀rst year salary on top. Financial
pressures can cause people gaps within a business, especially if
you need to hire quickly. Outsourcing your 昀椀nance team can have
signi昀椀cant cost savings.
That’s not to say that businesses shouldn’t be hiring in-house
昀椀nancial professionals – they are invaluable and of course as
a business scales it needs a mature 昀椀nance team to help drive
operations forward. When we work with businesses, we like
to be seen as part of the team – working closely with in-house
professionals and understanding what is going on now as well as
plans for the future.
But when a business is facing certain pressure points and is
struggling to hire the right people, Outsourcing your 昀椀nance team with
Menzies can help you 昀椀ll multiple 昀椀nancial roles quickly. From easing
operational pressures, to o昀昀ering longer term value, Menzies can
step in and start doing the work from day one. It also provides the
昀氀exibility to change resources and costs as business needs change
over time.
