Ask yourself these three key questions
A milestone reached: you’re ready to expand your business. Was it a surge of clients, an uptake in your services, a flurry of new projects? Whatever the driver, your company needs a workforce to suit.
Now you just need to find these talented people to fuel your expansion.
You’re facing two options when recruiting new accounting staff – an in-house approach with existing resources, or outsource to a specialist accounting recruiting firm. Which process is best for you?
The short of it is: both require an investment of money. You’re either allocating budget to an internal process and drawing upon internal staff, or you’re investing in an external professional service. So let’s look at three questions to help you decide.
Permanent or contract? What sort of staff are you looking for?
The length of the contract you’re offering may make a difference.
Permanent accounting roles
You’re looking for the right person; a new talent that will elevate your business; someone to join you for the long-haul.
- Outsourcing can give peace of mind. Accounting recruitment firms are already interviewing and compiling qualified talent all the time – full time. Recruitment agencies are a resource-savvy option to save businesses time and staff workload, successfully sourcing quality talent.
- If you’re a business that prefers to call upon your own networks and connections when finding your next accounting staff member, in-house might align with your ethos here.
Contract accounting roles
You may need additional accounting staff during peak fiscal periods. When you’re looking at time-sensitive projects or short-term periods, you don’t necessarily want to prolong the process with in-house interviews and recruitment administration.
- This is a good opportunity to use an accounting recruitment agency. Outsource the heavy-lifting to gain more effective outcomes and meet the short-term needs.
- Choosing to go in-house could also be suitable if you already have a supply of prospective contract staff and an established process to deal with your pool of casuals or contractors.
Do you have a human resources department to draw upon?
If you have a dedicated HR department, you may want to let them manage the process of recruiting your new accounting hire. An internal HR department is naturally focussed on looking at your business needs with first-hand knowledge of your teams, structure and organisational goals.
Sounds straightforward… what’s the catch?
If you’re recruiting in a specialised field like accounting, it pays to remember that HR staff may not have the exact skill set to run an effective recruitment campaign that draws out the best candidates in this specialised profession. In this case, you should consider outsourcing to an accounting recruiting firm. They are a fount of knowledge when it comes to assessing accounting proficiency.
It’s not uncommon for sizable HR departments to still outsource to accounting recruitment specialists for executive-level roles. It helps the senior leadership team gain an external perspective and maintain invaluable objectivity.
What resources can you assign to the hiring process?
The big question is: are you willing to take on the tasks required to recruit your new accounting staff? When a business chooses in-house, they seek to be in the driver’s seat for all aspects of the process. Recruitment may be your calling! Here’s a high level snapshot of what you’re in for. You’ll:
- market the position, place ads, get word out that the company is hiring
- sort initial applications, handle expressions of interest, answer enquiries
- arrange assessors, panels, resources and logistics for the interview process
- undertake due diligence on resumes, verify facts, contact references
On the flip side, would you prefer to hand this process over to the experts, and focus your efforts on running your business? Outsourcing means all the above tasks get done, with the added bonus of the agency’s access to potential accounting candidates that may not even see your job advert. Recruitment firms will shoulder much of the hard work and help you arrive at the end-stage faster.
Final words: Both have their place
In-house recruitment is good if you have the expertise, time, resources and willingness to drive the process from start to finish. Likewise, outsourcing your recruitment to a specialised agency will provide you with a strong outcome by doing what they’re trained to do – sourcing you accounting talent that suits your business needs. Each have a place in helping you expand your business.
Find out more about specialised accounting recruitment:
Blue Diamond Recruitment is a boutique firm that is ethical, flexible, and values collaborative long-term relationships with clients who are searching for exceptional accounting talent. Contact Blue Diamond Recruitment to learn how we can help your business excel.