Building a finance team for the future

Accurately forecasting your team’s workload for the year ahead is essential. Finance departments often face increased workloads during peak periods, such as financial year-end, tax filing season, or audit preparation. However, Emma stresses the importance of looking beyond these predictable peaks to account for any new projects, regulatory changes, or business developments that may impact key functions like accounts payable and receivable. 

"Workload forecasting needs to go beyond just the usual cycles," Emma explains. "Business expansions, acquisitions, transformation projects or regulatory shifts can all drastically increase the pressure on your team. You need to anticipate whether these changes will require additional support, either through temporary contract staff or permanent hires." 

For example, temporary surges in workload, like those brought on by audits, payroll compliance updates, or new financial reporting requirements, might best be addressed by bringing in contract or interim finance staff. In contrast, longer-term changes, such as a shift in credit control policies or an increase in accounts receivable volumes due to growth, might require more permanent staffing solutions and looking into credit control recruitment. 

Step 3 - Prioritising key skills with expert finance recruitment services

Emma strongly believes that finance teams need to move away from purely reactive recruitment strategies and instead adopt a more flexible, proactive approach. This involves maintaining a talent pipeline of potential candidates in various finance functions, such as payroll, credit control, and the purchase ledger, and being prepared to move quickly when the need arises. 

"Building flexibility into your recruitment strategy is critical," Emma says. "A mix of permanent, contract, and interim staff allows businesses to scale up or down depending on demand. In today’s fast-changing economic environment, having that agility can make all the difference." 

Emma highlights the importance of working with a finance and credit control recruitment partner to maintain a strong talent pipeline. This ensures that when roles need filling - whether for payroll administrators, accounts payable clerks, or credit controllers - qualified candidates are available quickly. Flexible staffing solutions, such as interim and contract workers, can also help businesses test the skills and cultural fit of candidates before offering permanent roles.

Recruitment is vital, but Emma reminds businesses not to overlook retention and development. Your current staff possess a wealth of institutional knowledge that is critical to your operations, particularly in areas like accounts receivable, payroll, and purchase ledger management. High turnover can cause disruption and impact productivity. 

"Retention strategies should be at the forefront of every business’s staffing plan," Emma advises. "Offering professional development, competitive compensation, and a flexible working environment are key to keeping your top performers. Finance professionals are looking for roles that not only offer career progression but also balance with their personal lives." 

Emma highlights the growing demand for hybrid and remote working options, particularly as companies have embraced more flexible working arrangements post-pandemic. Offering employees flexibility to work remotely or on a hybrid model could significantly improve retention, especially among top talent who might otherwise be tempted by competitor offers. 

"Finance professionals today expect more than just a good salary. They want opportunities for growth and flexibility. Businesses that can provide this will find it much easier to retain their top talent," she says.