Staffing is among the top business issues facing UK accountants in practice today. Since early 2015, there have been countless stories in newspapers and magazines about the short supply up and down the country, and how this shortage is hampering growth in the accountancy sector.
People leave their accountancy role for various reasons; some leave because of workload pressures or maybe want to work closer to home while others may leave to work for competing practices for higher pay packages.
Whatever the reason, the only time you feel like you are in a mess is when a really important member of your staff leaves. Hopefully, you will never have to deal with such a situation but if you do here’s how to cope with it.
Firstly, let’s look at how losing an important staff member can affect your practice:
What to do when an important staff member leaves?
Getting an idea about exactly how much work is left when the staff member is gone should be a great place to start. Compare this information to your team’s current priorities, tasks and workload, so you can determine whether you need to hire a replacement.
For example, in some cases if the workload is daunting you might need to hire a temporary accountant immediately. In other cases, you will be able to distribute the workload amongst current accountants while you find the right replacement.
Keep in mind that doing this can shake up your team’s dynamics. Current staff members might find themselves scrambling to cover the extra work and this can impact them negatively. And as the on-boarding process can take months, it might result in them being in the same position as the accountant who left and make them consider this route too.
Considering the urgency, identifying the ideal hire, cost of hiring and training as well as lost productivity due to bad hires can be expensive for your practice, so it might honestly be a good time to assess outsourcing and find out how it fits into your overall strategy.
It’s no secret that many accountancy firms in the UK are turning to outsourcing to temporarily meet shortages. We conducted an internal survey of our accounting clients last year, and here are some reasons why they chose to outsource:
The following are some questions often asked by accountants about how outsourcing can help when an important member of their staff leaves:
Losing an accountant, especially an important one, is tough. But it doesn’t not have to cripple your operational capacity. A reliable and professional accounts outsourcing company can provide you with the right accountants, right at the time you need them the most.
For help starting a discussion on how outsourcing can help you when an important member of your accounting staff quits, contact us.
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My name is Vishal Kurani, the author of the QXAS blog and I appreciate you stopping by! I help accountants gain Accounts Outsourcing knowledge through my easy to follow blogs and guides. Download my free guide "The Accountants Guide to Making Payroll Profitable" to learn how to make payroll profitable for your accountancy practice.