Whether you’re just getting your business off the ground or you’re well-established, it’s crucial to have the best finance staff possible. Having an excellent finance staff decreases the risk you take if you decide instead to hire less qualified employees or even financial software.
When you’re an employer, looking for qualified individuals on your own may not be convenient or cost-effect. It’s often time-consuming to read applications or conduct interviews with multiple applicants.
What Is Finance Staffing?
Finance staffing, also known as accounting staffing, is an excellent option to consider when you don’t have the time or the resources to look through hundreds of applicants on your own. The job of an accounting staffing agency is to provide you with highly-skilled employees that they think will be a good fit for your company’s financial team. A finance staffing agency may:
Search for and recruit some of the best qualified candidates with financial experience
Evaluate a job candidate’s experience and skills using resources like assessments, reference and background checks, or skills testing
Conduct initial and follow-up interviews
Perform employee evaluations
While many staffing agencies focus on hiring full-time or permanent employees, many agencies can help with temporary employment. Need seasonal help in your finance department? There are also accounting staffing agencies that will provide you with temporary employees on an “as needed” basis.
What Does a Finance Staffing Agency Recruiter Do?
A staffing agency recruiter works one-on-one with a company or will work with several companies to find ideal candidates for open positions in their financial department. Recruiters often work directly with individuals who are looking for jobs in the financial field, such as accounting or analyzing.
Recruiters typically find ideal job candidates more quickly than going through the traditional hiring process, which often includes job postings and multiple interviews. In many cases, a recruiter is in charge of conducting preliminary interviews and deciding whether or not the potential employee is the right fit for the company.
What Types of Roles Do Finance Staffing Agencies Hire For?
Finance staffing agencies generally hire people looking for a career in the financial sector, but if an applicant meets specific job requirements, they may be considered for a position.
While accountants are most commonly hired, some finance staffing agencies hire people in higher-up fields, like financial advisors or even risk managers.
Whether you need someone with specific skills and experience in a financial career or someone with general knowledge, financial staffing agencies have a large assortment of employees to choose from. Some roles include, but are not limited to:
Even if you have existing employees who are familiar with finances and can assist with certain tasks, you’re better off hiring employees who have a degree in Finance or years of experience working in the field.
A highly skilled accountant is less likely to make potentially costly mistakes for a company than an employer who has limited knowledge or uses basic accounting software.
How Much Do Temp Accountants Make?
Temporary accountants make an average salary of around $48,000 a year. Some of the higher-end accounting temps reportedly make around $68,000 a year.
When you an accounting staffing agency, you’re going to pay the firm more than you’re paying the actual accountant. When you pay an agency for your account staffing, you’re not only covering the temp accountant’s salary, but you're also paying a fee for the agency to find the most ideal candidate for the position.
How Are Finance Staffing Agencies Paid?
Though finance staffing agencies operate a little differently, one thing that is consistent across the board is how they accept payments. If they’re collecting money from the employee for representing them, the payment is typically deducted from their salary once they start working. Before they start working, accounting staffing firms will usually charge them some fee for spreading their information.
Depending on the type of agency you’re working with, you might see their cut deducted directly from their paycheck as a percentage. These terms are typically non-negotiable. On top of that fee, the agency may also be charging you some flat-rate fee per client they deliver to you.
As an Employer, Why Should I Hire And Use A Finance Staffing Agency?
You should hire and use an accounting staffing agency because it’ll save you hours worth of time looking through applications and resumes. As an employer, you most likely already have a full team of employees to work with, so taking the time to personally select every candidate for a job is simply impractical.
A finance and accounting staffing agency will consider a variety of factors when matching you up with a client. Even as a business owner, you may not know everything you need to know about finances or the financial job role that needs filling. Finance staffing agencies are well-versed in a variety of jobs related to finance.
Agencies know which questions to ask and are often able to scope out an ideal employee more accurately and efficiently than an employer.
As an Employer, What Are Some Tips for Choosing a Finance Staffing Agency?
There are plenty of top-rated finance staffing agencies located throughout the country, but how do you know if you’re choosing the right agency for your needs? Here are some tips to consider to help you select a finance staffing agency.
Check Out The Competition
As a business owner, you probably pay close attention to your competition and follow business trends. Consider doing the same when looking for a finance staffing agency. Do other businesses in your area use a specific staffing agency? Ask fellow business owners who they use for staffing.
If you don’t feel comfortable asking around, go straight to a staffing agency to see who they work with. You have a right to do your research and shop around, don’t settle until you’re sure the agency is right for you.
Don’t hesitate to read online reviews from companies and employees who have used the agency. Be mindful to read through reviews carefully. While some reviews are helpful and give an honest account of how the agency operates, some reviewers may be former employees or businesses who had a falling out. Online reviews are useful but should not be your only source of research when choosing an agency.
Even if the staffing agencies in your area are limited, don’t feel pressured to go with the first agency you find. Here are a few things to consider when looking for an agency:
Are your services within the company budget?
Are all candidates interviewed in person?
How carefully are potential employees screened?
What does the agency offer that others don’t?
What type of assessments do you perform?
Can you fill the position right away?
Does the company perform job evaluations or terminate an employee who isn’t the right fit?
How many years of experience do you have?
While selecting a staffing agency is similar to conducting a job interview, taking the time to pick the right agency can save you money and other issues in the long run.
Once you’ve selected an agency, establish a good working relationship with them that is honest and clear. If there are issues with an employee that you hired through the agency don’t hesitate to address the issue right away.
A staffing agency should honor and respect how you run your company. If they hire an employee for you with different expectations or guidelines in place, it can cause an imbalance in the workplace. Remember, you are the employer and you have the final say in how the company is run and the expectations for your employees.
What Is The Best Finance Staffing Agency To Work With?
If your company is in need of temporary employees, Accountemps, which is a subsidiary of part staffing agency Robert Half, is an excellent starting point. Since this is a staffing agency for temps, this might not be the best option if you are trying to build a permanent staff.
If you’re open to remote workers or need a world-class consultant, try Toptal. They draw in finance professionals from across the nation and world, to ensure you have the best-in-class accountants and finance professionals working on your toughest tests.
Other staffing agencies to consider include:
Is Finance Staffing Right For Your Company?
The answer is yes. The amount of time and even money you can save is worth at least giving it a try as an employer. By giving it off to the professionals, you get to avoid the paperwork of bringing on new recruits yourself.
Finance staffing specialists know what you want, and they know what you should be paying for it better than you do. These specialists will be able to make sure that the right team of people can keep your business’ finances in good standing.