Recruitment is a gamble. Even being thorough doesn’t always protect you from a costly mistake. The stakes are higher when you’ve got a specialized finance position to fill and time is of the essence.

But isn’t it better to take time and ensure you get the right fit? 

Yes, in theory, but the gap’s still there and the clock is ticking. 

The solution: Consulting-as-a-Service (CaaS). It’s a stop-gap that buys you time to be truly judicious when looking for the perfect hire. 

Let’s find out more. 

Pause Before Hiring Under Pressure

Measure twice, cut once. Sage advice when translated as due diligence before filling a gap.

It takes 60 – 90 days to fill a senior finance position. Online recruitment generates hundreds of applications that you must go through to make an informed decision. 

  • Availability isn’t as important  as long-term fit.
  • Mis-hires result in high financial and cultural costs.
  • Interim outsourcing provides stability while you continue your search.

Filling a gap is not your priority. Filling it with the right person is. CaaS removes the pressure, so you can be certain when making your final choice.

Determine Whether You Need a Builder or a Maintainer 

Leaders can be divided into Builders or Maintainers. You must match the leader to your company’s circumstances.  

  • Builders are happiest when designing new processes during transformations.
  • They feel stifled when the dust settles.
  • Maintainers prefer steadier environments where they can optimize efficiency.
  • They feel untethered during transformations. 

It doesn’t make sense to hire a Builder for a few months and then replace them with a level head. It makes sense to outsource Builders during transitions, while finding a Maintainer who’ll fit the gap perfectly.

Separate Leadership Gaps from System Breakdowns 

It’s a bad workman who blames his tools. Except when the tools really are at fault. In this context, broken or inefficient systems and processes lower performance, despite effective leadership.

  • Long cycle times and constant rework indicate malfunctioning systems.
  • Leaders can’t win without making structural repairs.
  • Specialized outsourcing diagnoses the root cause(s) of problems, whether they’re people or processes.

You might not see the wood for the trees, but fresh eyes can identify weaknesses you’ve overlooked. CaaS makes sense because you only need temporary assistance, not a brand new department. 

Balance Cost Pressures with Outcome Focus

Finance specialists don’t come cheap, so hiring someone full-time is a significant investment. If you don’t have your heart set on a large, expensive staff contingent, it’s wiser to consider outsourcing to meet immediate needs.  

  • Experts consultants often have many clients, so it’s in their interest to work quickly and efficiently.
    They’re expensive per hour, but more affordable than someone permanent. 
  • Greater efficiency offsite results in greater efficiency internally.
    You can manage higher volumes without adding to your payroll. 

In the end, it’s results, not headcount that matter.

Shift from Roles to Outcomes 

CFOs must be strategic in their plans for growth. This includes decisions that make the best financial sense. Outsourcing can be a vital component in their strategies. 

  • Start by defining your desired outcomes, for example, accurate reporting and improved margins.
  • Understand your pain points, for example, reporting lags and limited visibility.
  • Consider hybrid models. Get the best of both while maximizing flexibility and optimizing opportunities.

Outcomes-based models focus on driving value, not just mindless expansion and quick wins.

Choose and Curate the Right Outsourcing Model

The level of outsourcing depends on your company’s size, growth, and goals, ranging from single services to all the functions in a standard finance department. For example:

  • “We do it for you”: The entire suite of services for small firms and startups.
  • “We do it with you”: Hybrid strategies that combine internal and external expertise.
  • “How to do that”: Niche or specialized outsourcing.

Outsourcing needs change as businesses evolve. Startups might assume more financial functions as staff become experienced. Expansion could require outsourcing for specialized functions. Understand your company’s ebbs and flows for optimum outcomes. 

When Outsourcing Makes the Most Sense

Outsourcing is not about handing control of your finance department to external sources. It’s about gaining control by making strategic decisions that support sustainable financial growth. It’s important to recognize when outsourcing will provide quick wins, enhance flexibility, and increase cost efficiency.

It’s equally important to recognize your skill sets and develop a hybrid model that delivers the best outcomes. The point is, don’t shy away from CaaS because it looks expensive. Invest in outsourcing to gain stability today and agility for tomorrow.