7 ways accounting firms can staff for busy season

August 27, 2021 10:50 AM

No matter how ingrained seasonal work has become in the accounting profession, the task of identifying and efficiently staffing capable talent to join your firm and hit the ground running is never easy. Some approaches, however, are more effective than others.

Every firm is different, of course, but seasonal needs in the sector tend to be universal. And while many firms are rightly focused on scaling their business development funnel, it’s equally as important to have a robust pipeline of contractors who can be immediately activated when billable work hits its zenith. Especially during busy season, it can be advantageous to have efficient hiring practices in place that will not only seamlessly help a firm handle its work but also improve margins by forgoing the typical costs associated with W-2 employees.

Obviously, busy season can represent a disproportionate amount of business on your calendar. During this time, it’s critically important to retain clients but also meet margin objectives.

Busy-season staffing for accounting firms generally comes down to following a few simple rules. Follow them and you’ll be ready for the industry’s most critical time of year.

Secure your busy-season talent early

A trend has emerged: Larger firms are beginning to focus on staffing for the busy season earlier and earlier in the annual cycle, with many extending offers as early as July and August for highly desirable contract resources — with contracts extending through the end of the 2022 busy season. If securing the best contract talent is the goal (and isn’t it always?), you’ll want to act fast. When is the best time to start planning around hiring for busy season? Right when the previous season ends. That way you can identify proven contractors you want to bring back the following year, make them an offer and guarantee that efficiency will be higher compared to contractors you might be working with for the first time.

Bring in contract recruiters

It’s settled then: The name of the game is identifying and locking up desirable contract talent first. So don’t let other firms beat you to the punch because you don’t have enough recruiters able to focus on staffing up for your busy-season needs. A skilled contract recruiter can quickly pay for their time with a few placements, but they may not be needed outside of the busy-season ramp-up. Like any business, accounting firms are always focusing on growth. So, even if you’ve brought back contractors from previous busy seasons, you’ll still need to staff up to support any new business layered on top of what’s recurring. Contract recruiters can take the worry out of securing that contract talent so you can focus on what’s important: the clients (servicing those existing and bringing aboard more).

Don’t lose out to firms willing to offer longer contracts

Not surprisingly, contractors are gravitating toward firms offering longer-duration contracts. In the past, a typical busy-season contract may have lasted three months. Today, these same contractors are being offered up to six months, with firms subsequently moving them around as needed to ensure their talents are fully utilized through the life of their contracts. With most work being done remotely, contractors can more easily be moved from one team to another. This tactic will also offer you the flexibility to bring on more business throughout the year. Though “busy season” is a milestone on the calendar of every accounting firm, business comes throughout the year. Signing contractors to longer engagements can actually reduce the spend you have to invest in recruiting. Plus, if you have the work for contractors over a longer period of time, you’re making money off of them anyway.

Consider leveraging the global talent pool

For work that can be done remotely, consider utilizing contractors based outside the U.S. There are affordable, highly qualified contractors around the world with strong English-language skills who may be solid additions to your busy-season team. In some instances, these contractors may even be located in the same time zone as the rest of your team. Many of these international contractors have extensive Big Four backgrounds, as well as plenty of busy-season experience under their belts. An added benefit of contract workers in a different time zone? It means your firm can operate 24-7, providing a level of client service many do not.

Be prepared to move quickly

It is currently a candidate’s market, with desirable contractors typically entertaining multiple offers — including permanent work — and commanding premium compensation. Finding strong candidates in this environment is challenging, and recruiting firms simply don’t have many desirable candidates to present for most highly skilled jobs. This makes speed even more important. Instead of having to work through multiple layers in an organization to obtain approval, hiring managers should be empowered to select candidates themselves so they can move quickly when an attractive candidate is identified. If not, the ship will quickly sail.

Leverage a talent cloud

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In order to develop a network of proven contractors with whom you can build enduring relationships, consider using a talent cloud. The firms that have the most success are those that invest in relationship-building year-round — firms that contractors view as true partners in their careers. Additionally, talent clouds help firms bring back contractors that have worked with them previously, often at lower costs. Talents clouds offer push-button hiring efficiency. Hiring managers can review contractors en masse, easily access references (without having to wait for calls back), all increasing hiring efficiency.

Don’t try to go it alone

For obvious reasons, contractors love fielding opportunities from several desirable employers. Firms that try to build their own proprietary contractor networks are at a fundamental disadvantage to talent cloud platforms, which work with many of the firms that top contractors are most interested in. The primary objective of a contractor is to secure enough work to provide a desirable income and lifestyle, which means waiting on just one firm to call them with opportunities is a luxury they can’t afford.