04 Jan Leveraging Interim Resources
Is the new year increasing pressures on your team and impacting efficiencies and effectiveness? Did anyone from your team resign now that year-end bonuses were paid? Did you recently lay off or furlough employees but are now discovering necessary cost cutting and layoffs were overestimated? Do you have projects that just aren’t getting done?
It is near impossible to get resourcing exactly right 100% of the time…especially when needs are constantly changing. For years, companies have relied upon interim talent to fill short term gaps. And in this economy, it makes more sense than ever before. Leveraging interim resources will help you resolve specific, specialized problems and add capabilities and capacities you may not currently have in-house, especially as we venture into 2022 with renewed optimism.
The Rise of Interim Resources
The modern workforce is becoming increasingly dynamic with employment models segmenting and blending permanent and interim labor. Management is shifting from the traditional long-term static view of resources and capacities to a shorter-term, more flexible focus on work and capabilities.
The benefits of an interim workforce structure are overwhelming. Companies can focus on reducing operational expenses, WHILE responding quickly to external and sometimes unexpected pressures. This variable/flexible cost model enables consistent productivity, ease of engagement, and adaptability of interim talent. Those contributions to a business world that depends on an agile talent pool to succeed are unmatched.
The CFO Suite can help you get through this time when you might need that additional capability or capacity for your team.
Why Utilize Interim Resources?
There is no doubt labor models are shifting to leverage interim resources. As companies grow or as roles remain uncertain, management teams need to assess whether the workload for a position requires, or can sustain, a full-time hire. Bringing in an interim resource allows companies to fill a gap to solve the immediate need and, if the workload persists for an extended period, then transition the job into a permanent role.
Benefits of Interim Resources
- Utilizing an interim resource allows you to fill a void while taking the necessary time to evaluate future longer-term solutions.
- Interim resources understand they have a finite timeline to get the job done. They have a specific set of skills and a pre-determined timeline to deliver.
- Interim resources can be used for specific, stand-alone projects that require certain expertise not otherwise available.
- The return on investment can be substantial when the cost of failure or simply not getting something done is uncomfortably high.
- Interim resources add a fresh perspective and provide an honest and objective view on what is best for a business without being a threat to incumbent team members.
- Interim resources are talented, results-driven individuals dedicated to driving change and making a difference.
- Interim resources are efficient remote workers; they are adept at using mobile work tools, remote conferencing software, and their performance can easily be monitored.
- Interim resources are completely committed to their clients since their future work relies heavily on referrals and successful track record of delivery.
- They can be terminated at any time, typically with no additional financial commitment.
Embracing the interim workforce structure could bring real benefits to your business, just in the cost savings and flexibility alone. But, as we’ve discussed, the advantages go much deeper than that. The CFO Suite can help you nail this kind of resourcing plan. Call us today to find out how our network of talent can work for you.