Eight Benefits of Fractional or Virtual Staffing for Your Finance and HR Needs
Addresses New COVID-19 Challenges
Let’s start right here. As we’ve all been addressing COVID-19 within our businesses, so many things have changed. In a recent Gartner survey of 127 company leaders, 82% of respondents expect remote working on some level to become a permanent part of their strategy, with 47% saying they plan to let employees work from home full-time going forward. MIT’s David Autor and Elisabeth Reynolds are forecasting the rise of remote work, or as they call it, telepresence. These solutions aren’t an option for all employees, but when it comes to HR, Finance, and Accounting roles, the rise of virtual and fractional work is no longer a possibility – it is quickly becoming a long-term, viable solution for many.
On-Demand Expertise
You may not need full-time finance or HR resource on your team, but from managing this new hybrid workforce to forecasting and pulling knowledge from financial statements, the need for this expert talent is greater than ever. You need resources on your team that you can trust, with the experience to back up their decision-making and the guidance they’re providing. Fractional and virtual solutions give you access to that talent with the levels of flexibility you want.
Quickly Adjusts to Your Pivots
From pivots and micro-adjustments to all-out transformations of how we do work, fractional and virtual solutions are adaptable and resilient. When you move, they move with you, providing you with the ability to be nimble and quickly change directions as needed.
Predictability
Right now, more than ever, predictability is valuable. Where there is increased uncertainty and volatility, being able to budget and manage cash flow is essential. For businesses who don’t need or can’t support a full-time accounting and HR team, fractional and virtual resources fill the void and bring predictability to their short and long-term budgeting.
Advisory
Our fractional and virtual professionals are sharp. They’ll bring an outside perspective to your business, and help you see your financials and workforce through a new lens. As they say, “You don’t know what you don’t know.” We’ll partner with you, providing HR and finance resources to guide you with their vast knowledge and proficiency.
Increased Workloads
As companies have had to tighten their belts and get lean, the workloads and responsibilities of their Finance and HR staff have grown rapidly. We’re asking people to do more with less every day – reporting, implementing processes, planning, and analysis. Fractional and virtual resources can help carry that load without adding the weight of additional headcount and benefits.
Scaling
Even in today’s environment, with the new challenges we’re facing, many businesses are growing. As headcount grows, so does the need for HR expertise. As financial growth occurs, it’s more important than ever to have a clear understanding of the business’s financial performance and future. A virtual or fractional Finance or HR addition to your team can help make scaling possible and unlock new potential.
Varied Levels of Expertise
Fractional and virtual roles allow you, as the employer, to tap into the exact levels of expertise you need. From director-level professionals to generalists, recruiting specialists to performance and culture experts, fractional and virtual solutions open the door to bringing in “perfect-fit” staff in ways that traditional hiring does not.