Where to Find World-Class F&A Talents?

The finance and accounting (F&A) industry has faced a shortage of qualified talents in the last several years mainly due to the aging population of F&A professionals and the lack of new talents to fill in the gap. Additionally, this problem has been heightened by the COVID-19 pandemic that made the talent access more scarce, the hiring process even more challenging, and attrition and turnover rates higher than ever. It is crucial to note that high attrition rate is critical because it results in loss of employee knowledge, loss of morale for those remaining team members and overall loss of productivity.

Given how vital F&A processes are in business sustainability, it’s important to hire only skilled and experienced professionals in your team. While in-house recruitment is still a viable option, you can save more on time and resources when you choose to outsource – an advantage that is definitely relevant nowadays.

Aside from enabling you to cut on personnel costs and other overhead expenses, outsourcing can link you with qualified candidates for your F&A team. In order to enjoy these benefits, you have to be keen in choosing the outsourcing company you want to partner with. So when looking for a prospective provider, here are some qualifications that you need to look for.

Access to a pool of world-class talents

First and foremost, choose to partner with a provider that will give you access to skilled and experienced F&A professionals. By doing so, you will be able to scout skilled accountants, bookkeepers, financial risk managers, and other F&A experts who will match your company’s unique needs. You can be guaranteed that these candidates have the knowledge, experience, and even the necessary certifications to handle your F&A processes, minimize costly accounting errors, and improve your overall business performance.

A+ recruitment process

Another thing to consider in an outsourcing partner is a well-established hiring process that allows them to filter the best people for your company and make sure that they have the proper certifications and skills for their roles. With this, you can have a great F&A team and at the same time, scale your operations on an immediate basis when necessary because their industry network allows them to source new talent quickly and effectively. 

Industry experience

You will be able to gauge an outsourcing provider’s level of experience based on the number of projects it has completed and how intensive those projects were using various F&A platforms such as Quickbooks, Microsoft Dynamics, STAARS, Charles River Database, etc. This is important to consider because experience can indicate if a provider has the knowledge and experience in the F&A industry to effectively handle the tasks and processes you plan to outsource.

High Retention Rate

Employee retention is one of the persistent issues in the outsourcing industry where typical retention rates range from 50 to 80 percent depending on the field of specialty. Find an outsourcing partner that has a high retention rate, because this usually indicates that a company has excellent employee engagement practices such as programs and activities that promote growth in and out of the workplace. This will result in increased productivity among employees and competent professionals who can manage your F&A processes effectively.

High Net Promoter Score

When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:

• Access to talent through their A+ recruitment process
• Cost saving of up to 70%
• Adaptability in technological advancement
• Established Information Security
• Operational excellence
• A great F&A team
• Information and data security
• Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

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Let’s work together to build a great F&A Team.

Infinit-O is the trusted customer-centric and sustainable leader in Business Process Optimization to Small and Medium businesses in the Financial Services, Healthcare and Technology sectors by delivering continuous improvement through technology, data and people.