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MENLO PARK, Calif., Oct. 30, 2018 -- Consultants play a key role in the labor model for the digital age. A new Robert Half Management Resources survey reveals 50 percent of CFOs plan to bring in these professionals for business systems and performance improvement initiatives over the next 12 months. Additional areas requiring consultants include finance and accounting (39 percent) and taxation (37 percent).
Interim professionals deliver a number of benefits to companies, CFOs reported. Most notably, financial executives said working with consultants offers firms on-demand access to experienced professionals with hard-to-find, specialized skills and helps facilitate knowledge transfer and staff development.
CFOs were asked, "In which of the following areas is your company likely to bring in financial consultants or project professionals in the next 12 months?" Their responses:*
|
Business systems and performance improvement |
50% |
|
Finance and accounting |
39% |
|
Taxation |
37% |
|
Risk, governance and compliance |
36% |
|
Finance optimization |
36% |
CFOs were also asked about the business benefits of working with financial consultants or project professionals. Their responses:*
|
Access to experienced professionals with hard-to-find skills |
46% |
|
Access to experienced professionals on demand |
43% |
|
Tapping specialized expertise |
42% |
|
Facilitating knowledge transfer and professional development for full-time staff |
40% |
|
Support for special projects |
39% |
|
Alleviating the burden on full-time employees |
35% |
|
Addressing workload spikes |
28% |
*Multiple responses were permitted.
View an infographic showing in-demand areas for consultants and the benefits of working with these professionals at roberthalf.com/blog/management-tips/consultant-demand-and-benefits.
"Digital transformation initiatives are driving demand for business systems and financial consultants," said Tim Hird, executive director of Robert Half Management Resources. "Finance functions are expanding their responsibilities, yet often lack the staff to tackle new work and unexpected events. In response, finance leaders turn to experienced interim professionals and external firms for assistance with both high-profile initiatives and day-to-day needs. Consultants can deliver in-demand knowledge and skills when needed, for as long as needed."
Hird added that this flexible staffing strategy is part of the new labor model and attractive to both employers and professionals. "Finance leaders gain access to an agile solution, while consultants enjoy greater flexibility in engagements and exposure to different industries and companies."
Robert Half Management Resources highlights finance and accounting consulting options available to companies:
- Project and interim professionals — Consultants cover essential roles and support key projects. They are instrumental in moving initiatives forward when companies are confronted with personnel gaps.
- Consultant teams — Larger initiatives, such as a system implementation or transitioning to the new lease accounting standard, require a broader range of resources and expertise. A team of interim professionals can support a strategic initiative or assist with the work of core staff dedicated to the project.
- Long-term and recurring consultants — Companies work with professionals for cyclical and regularly occurring needs, such as year-end close. This promotes staff continuity and operational stability on longer-term projects.
- Managed services — Managed business services providers assist with major and one-off initiatives and oversee entire functions. They analyze operations, identify needs and deliver specialized staffing resources.
About the Research
The online survey was developed by Robert Half Management Resources and conducted by an independent research firm. It is based on responses from more than 1,100 CFOs at companies with 20 or more employees.
About Robert Half Management Resources
Robert Half Management Resources is the premier provider of senior-level finance, accounting and business systems professionals for companies' project and interim staffing needs. Customizing its approach for each organization, Robert Half Management Resources can provide a single consultant, a financial team or full-service consulting services, delivered through Protiviti, a Robert Half subsidiary. With more than 140 locations worldwide, Robert Half Management Resources works with companies of all sizes, including more than half of the top 100 companies from the FORTUNE 500®. For more information, visit roberthalf.com/management-resources.
SOURCE Robert Half Management Resources
