Banking Consulting - Benefits Of Finance And Accounting Staffing Agencies

The finance and accounting industry is experiencing massive growth amidst the increasing workforce shortage. As such, it’s apparent that the demand for banking consulting and staffing agencies is also increasing.

The fact of the matter is, filling key open positions is increasingly difficult and by leveraging banking consulting, it’s possible to connect with the most talented financing professional. Additionally, outsourcing your recruiting efforts to a banking consulting firm specialized in recruiting will help circumvent staffing challenges while also enabling you to reap a surprising amount of benefits, such as:

1. Hire faster

An inefficient hiring process can paralyze your firm and lead to a significant waste of financial and human resources. The reason why is simple -  with the hiring process plagued by inefficiencies, it may take weeks or months to fill a key position, which can be costly in the long run.

Compare this to working with a staffing agency specialized in banking consulting and finance industry where you’ll gain access to a readily available talent pool of finance specialists.

As recruiting and staffing agencies are already familiar with the most effective strategies for recruiting specialists in the banking industry, they are well-equipped to handsomely slash your acquisition schedule. 

2. Minimize hiring risks

There are many risks associated with hiring. Not only do you have to contend with the likelihood of onboarding a bad hire, but you have to deal with a variety of misclassification risks. Staffing agencies handle such matters on a daily basis, so they know the current laws and regulations related to hiring. Thus, a banking consulting recruiter can see to it that you’re always in compliance with these rules.

3. Save your organization’s resources

Many organizations need to multitask as human resources are often limited. By using a staffing agency, you can remove hiring from the equation. That way, your internal HR team and other employees can put all their focus into tasks that generate revenue, while recruiters focus on employee acquisitions and corresponding processes.

4. Gain access to hidden talent pools

Recruiters and staffing agencies sometimes spend years networking and nurturing talent pools in a wide variety of industries. Because of this, they have the required connections to introduce you to ready-to-work prospects, or alternatively, look for hidden talent if necessary (individuals not currently job hunting).

5. Negotiate the best terms

Top talent can come at a hefty price. Although you need to hire these individuals to fill skill gaps in your company, you still need to consider your bottom line. As luck would have it, professional recruiters are not only acquainted with salary requirements of specialists in the financial industry, they are also experts at negotiating the best possible price.

Staffing agencies can strike a fine balance between offering the best possible benefits and salary packages to a candidate, ensuring that the entire endeavor doesn’t cost your organization an arm and a leg.

6. Save money

Hiring costs are often overlooked, but the reality is that they can quickly add up. By working with a banking consultant specializing in hiring, you can achieve plenty of savings when it comes to recruiting. Here are a few examples of where your company can slash hiring costs:

• Advertising costs: job postings and advertisements of vacancies on different marketing channels
• Pre-employment tests, background checks, and drug screenings
• Generating payroll databases
• Training and onboarding

When you combine these savings with money saved on bad employment deals and minimized losses from decreased downtime, hiring through an agency can save you a considerable sum of money.

7. Explore temporary staffing

Agencies also offer temporary staffing solutions, which can be a lifesaver for controlling employee turnover and preventing unnecessary losses. They also provide the candidates directly to you without involving any sort of intermediary. That way, you have less chance of getting scammed.

Additionally, if your organization is fairly small, you may not be able to afford to lay off people in slow periods as it can have a negative impact on your reputation, as well as your balance sheet. You may also not be able to afford to handle the expenses of providing insurance for all your employees, hence keeping a part of your team hired on a temporary basis is a great way to run an operation with minimal cost.

8. Support business growth

As we stated earlier, banking, financial, and accounting sectors are going through a period of growth. Naturally, you must be able to support this busy period by expanding your ranks. With a banking consultant for hiring, you can easily source and hire financial professionals regardless of the current talent shortage.

In fact, even if you need a large group of new employees, a staffing agency has the resources to assist you in this goal.

9. Minimize the impact of talent shortages

Markets are in a continuous state of expanding and shrinking, so ideally, you want a partner who will help you navigate and manage these events with efficiency. As you already probably know, filling key roles in your organization can be close to impossible in these times. If you fail, you can easily fall short of your goals. 

Thus, you can minimize the effect of the talent shortage and source the right talent even at times when skilled financial employees are not within reach by partnering up with an experienced staffing firm. 

Build A Stronger Team Today

The tides are constantly shifting, and even if your team seems impervious to current challenges, things may change in the future. 

This is why working with a staffing firm can prove advantageous. Someone focused on fulfilling your recruitment needs and enabling you to take on a strategic approach to recruiting can make a substantial impact on the long-term effectiveness and fiscal viability of your organization.

Here at Griffing Global, we have deep experience with banking consulting and know exactly how to source talent for the financial industry. We can supply certified experts on a regular basis as we have already vetted specialists trained to meet the highest expectations our clients may have. 

No matter how urgent it is, we can find someone for you who may end up shaping the future of your organization.

Get in touch with us by filling out our contact form or calling (855) 747-4334 to make those staffing challenges disappear.