The financial wellbeing of your business is critical to its success – which is why hiring a finance employment agency can be instrumental in the growth of your organization. After all, without proper management of finances, it would be difficult to maintain day-to-day operations, let alone achieve long-term goals. This is why it’s so important to have the right people in place to handle your company’s finances. But how can you tell if your business would benefit from the assistance of a financial staffing agency?
In this article, we list out and discuss ten important signs to watch out for; any of these may mean that there is a problem with the way your business is currently being run financially.
10 Signs Your Business Needs Financial Staffing Solutions
1. You’re Always Operating at a Loss
If your business is consistently running at a loss, it is a sign that something is wrong with the financial management of the company. This could be due to a number of factors, such as poor budgeting, overspending, or simply not generating enough revenue.
2. You Have a Lot of Outstanding Debt
Another sign that your business is in financial trouble is if you have a lot of outstanding debt. This could be in the form of loans, credit card debt, or even overdue invoices. So, if you’re struggling to keep up with your payments, it’s a sign that you need help managing your finances.
3. You Need a Finance Professional Specializing in Specific Fields
There are a lot of different aspects to financial management, such as budgeting, bookkeeping, and tax preparation. If you find that you need help in one or more of these areas, it’s a sign that you should get assistance from a finance staffing agency. This is because they can connect you with professionals who have the specific skills and experience your business desperately needs.
4. You’re Having Difficulty Managing Cash Flow
Cash flow is the lifeblood of any business, so it’s essential that it is managed properly. If managing your company’s cash flow becomes difficult, it may signal that you need help from a financial staffing agency. With the right finance professionals in place, you can develop a system to better manage your cash flow. This ensures that your business has the funds it needs to operate smoothly.
5. Your Organization Constantly Has Short-Term Job Openings for Finance Roles
If you find yourself constantly needing to post job openings for financial positions, it’s a sign that your business does not run as efficiently as it should. This could be due to reasons such as a high turnover rate or not having the right people in place to handle the finances. The lack of continuity, for instance, can only cause more issues than solve problems – especially when it comes to getting the books straight.
6. Your Organization is Experiencing High Employee Attrition Rate
If your business is experiencing a high employee attrition rate, it could be due to financial stress. Various factors may cause this, such as losing the ability to pay employees’ salaries on time – which is very bad – or having to constantly downsize due to financial difficulties – which is just a reflection of poor management. This basically means that you may need to rebuild the finance team from the ground up.
7. You’re Always Scrambling to Meet Deadlines
If you find yourself always scrambling to meet deadlines, it could be a sign that your financial management is not efficient. This could be due to poor planning, not having enough staff, or not having the right tools and systems in place.
8. Money Constantly Worries You
If you’re constantly worrying about money, it’s a sign that your business is not in good financial health. This could be due to different reasons, such as not having enough cash on hand to cover expenses, or not having a good handle on your company’s finances. At its core, the business’ finances become mismanaged. A finance staffing agency can help you find the best candidates for finance jobs.
9. Your Human Resources and Recruitment Department is Overwhelmed
If your human resources and recruitment department is tired and always dealing with a backlog, it could be a sign that your business is not financially stable. As the HR team should be the central support system of an organization, their wellbeing should also be addressed so that they can fulfill their jobs: finding the right candidates for your business.
Considering this, a financial staffing agency can help when your HR department becomes overwhelmed.
Even the most competent human resources department can occasionally feel bogged down – especially when they’re looking to hire financial professionals. Hiring for a specialized position often requires a different skillset, which can further complicate the process.
It’s well worth noting how significant it is to ensure that the right people oversee accounting, bookkeeping, and financial management jobs. Given how crucial these roles are to keeping a company running smoothly, leaving these positions vacant for too long can end up costing the business dearly in terms of their bottom line.
10. You’re Not Seeing the Results You Want
If you’re not seeing the results you want, it could be a sign of poor efficiency in your business’s management. For various reasons, it can also arise when the organization does not have the right people in place to handle the finances, or they have not implemented the right systems and processes, causing the business to falter.
If you find yourself experiencing any of these ten signs, it’s a good indication that you need to seek out the help of a professional.
That’s where we come in. We pride ourselves on sourcing only the best candidates for our clients, hitting the ground running from day one.
How Can a Finance Staffing Agency Help Your Business?
A financial staffing agency can provide a number of solutions to help your business get back on track. We provide temporary or permanent finance staff to help with your day-to-day operations, so you can develop a budget, find cost-effective ways to reduce expenses, or even raise capital.
If you’re looking for a reliable staffing agency to help your business, be sure to check out blueStone Staffing. We’re one of North America’s premier staffing firms specializing in assisting businesses find the right candidates for their project needs.
Contact us today to learn more about how we can help you!
blueStone Staffing is a Certified Woman-Owned IT Staffing Company. We were founded in 2002. One of North America’s premier staffing firms, we assist mid-tier to Fortune 500 clients. We find talented candidates that can help complete your project on time and within budget. Our company is transforming the staffing industry. blueStone has excelled over the last 19 years, becoming the vendor of choice for many of the Fortune 1000 companies located in the United States. We hope to be the consultant that you trust your professional IT project needs to! We will surround you with meaningful attention. Our team creates long-term relationships with our clients, candidates, and associates. In brief, we help great people execute their vision.