Offshoring Accounting Staff Is the Best Solution – When Retaining Your Staff Becomes a Headache
For a CPA or accounting firm, their staff is one of the precious things because they can’t function a day without the support of their competent staff members. Apart from hiring a well-trained professional accounting staff, it is important for accounting firms to constantly ensure that they are happy with the work environment and never leave your company – to stay ahead of the competition!
The accounting industry is a very competitive industry as new accounting firms are coming into existence daily. This competition has created a problem of retaining good employees in the company for accounting firms. There’s an only a limited number of talented and experienced accounting staff members are available locally, thus it is a troublesome job for CPA firms to keep their staff retained. It is a real headache for the accounting firm’s HR department to satisfy the needs of their employees.
Retaining Staff is a Real Headache
Well, retaining your in-house staff along with managing a business empire isn’t a piece of cake. There are multiple challenges involved in retaining your accounting employees like providing them extra benefits, reducing their stress, appraising their hard work and so much more. That’s why numerous smart accounting firms are already finding a cure for this employee retention problem in the form of offshore staffing for accounting firms.
Remote staffing for accounting firms has been a hot service offered by CapActix as our numerous clients can’t go through the regular stress of retaining their accounting staff. Accounting firms should hire remote staffing when managing accounting staff becomes too much hassle.
How Remote Staffing for Accounting Firms Can Help in Retaining Staff?
Remote staffing can release employee retention stress from the shoulders of accounting firms completely and let them focus on expanding their customer base. But, if you are not sure how come offshore staffing for accounting firms will make you stress-free from the burden of retaining employees, then let’s check out a few benefits of remote staffing regarding the topic.
Okay, so if you have a competent accountant working for your firm for the past six months and you are very happy with the work of that employee. But, suddenly due to a family emergency, an employee has to leave your firm and move back to his home town without giving prior notice. Now, what will you do, you can’t leave your clients in the middle and extend their deadlines as it will negatively impact your business reputation. So, what to do?
Offshore, yep by offshoring work for the designated time, you will be able to easily meet your clients’ requirements because staff present in offshore companies are fully trained to handle any kind of work. Plus, these companies have a large number of freelancers and industry experts working with them so they can easily pull you out of uncertainty shock and properly manage your work until you hire a new full-time accountant.
Well, if you are running your accounting business in a small city and there are already few accounting business organizations available in the area, then you might see a cut-throat competition going for the experienced accounting staff. That’s because of mainly limited accounting professionals with the high calibre and reputation present in the area. So, to hire the top talent, you have to pay to overprice which isn’t possible for the small accounting firms because they are already running short on money.
But, thanks to offshore accounting companies. Now small and new accounting firms can easily use the expertise of professionals and improve their client base. As offshore accounting firms have multiple clients so they hire the industry’s top talent and the single clients won’t have to bear the cost of the professional. You just have to pay the agreed lump sum amount to the remote staffing company – not a penny extra for the agreed services. So, the monopoly created by your local accounting professionals can be broken by outsourcing.
Bearing Additional Costs
Sometimes to retain a good employee, employers have to offer additional incentives as well. Like, if an employee is traveling from the nearest town daily to work with you, then you might have to pay transportation expenses to lure employees. Moreover, to make accounting staff happy and contented – you need to offer free lunch, bonuses, cash rewards and other benefits to your staff. All these extra incentives will increase up your business overhead cost and the extra profit you are making due to the competent staff is directly going into the pocket of your employees.
However, if you hire a remote staffing company to handle your accounting work, then you don’t have to bear any additional cost. That’s because you just have to pay agreed fees in one go to the remote service providing company and rest you don’t have to pay anything. The cost of additional incentives will be handled by remote staffing firms on their own.
Bearing Emotional State
Recognition for a well-done job is a crucial element of employee engagement and retention. If your employee has done excellent work, then it is your duty to appraise that employee. And, for this, you need to regularly monitor the services of your accounting staff so that you can appraise or scold them. Now, to do that job you have to appoint a separate HR person that will eventually increase your business cost. So, if you are offshoring accounting staff, then you don’t have to deal with the emotional state of the staff directly as you won’t be dealing with the staff directly. You will be dealing with the manager, thus, no need to worry about employees’ emotions.
Bear Trouble of Rehiring
Once your staff member leaves your CPA firm, then you have to go through the entire process of rehiring once again. You have to post an advertisement online or offline, interviewing multiple candidates, test their skills and after going through all this trouble – there’s no guarantee that you will be able to hire a competent employee. So, if you don’t want to trouble yourself with this process, then offshoring is an incredible solution for you.
Here you can read about the 5 strategies to form a strong partnership with your Offshore Accounting Company
Hire Remote Staffing & Be Stress-Free
If you are tired of retaining your accounting staff, but still, your staff problems are giving you a migraine, then ditch hiring in-house accounting staff. Just hire a remote staffing company that can provide you all sorts of accounting solutions on the spot and conducts your business operations without stress or headache.
To hire a remote staffing solution that can deal with your employee retention stress, you can call or email to CapActix on email – [email protected] or can call on +201-778-0509.