Staff Augmentation for CPA Firms

An increased workload will not only impact your accounting and finance workforces but also leave you under stress. It’s time to make changes to your on-site team. 

You have many options to expand your in-house accounting team. When implementing talent planning or staffing management strategies, staff augmentation is a useful model to take into account for your organization.

It is an effective way to fill skill gaps and meet project deadlines and objectives, as it is intended to supplement an internal team with qualified resources. Learn how staff augmentation can boost your CPA firm. 

To expedite the implementation of a staff augmentation strategy, consider engaging an accounting and finance expert on Invedus to work with you on the process. Professional finance specialists can assist you in determining your skill needs, sharing best practices for staff augmentation, and identifying your skills gaps.

Common Hiring Problems for CPA Firms

The first issue that CPAs find is attracting the right accountant to support and grow their business. 

Businesses frequently experience difficulty finding the right candidate due to the shortage of accountants in the United States. 

For instance, if you are successful in finding the best accountant for your CPA firm, the next problem you’ll find is retaining them because they will demand high salaries according to their experiences. 

Moving on to the next step, if you are successfully able to retain them, then invest in their implementation and promotion of employee development programs after spending a budget on them. You will still be unsure if the accountant you hire for your in-house team will give you your desired result. 

If you are a big company, you will easily bear this cost. The problem arises when you are a small or midsized CPA firm. 

Solution: In this case, it is better to hire external resources or go with the staff augmentation method to decrease your workload and get a skilled accountant for your projects. 

How Staff Augmentation Works

Staff augmentation offers firms temporary or ongoing accounting and finance professionals, helping them quickly increase their team size and expertise as needed.

Staff augmentation is a flexible hiring model that involves bringing in temporary employees to supplement an existing workforce or fill skill gaps. Also, this helps organizations increase agility and respond to changing needs. It can be used in many roles and scenarios, including:

• Temporary roles: To cover absences due to vacation, illness, parental leave, or sabbatical.
• Shorter-term projects: To provide support for projects that are less than six months long.
• Complex projects: To leverage expertise from specialists with advanced skills.

Types of staff augmentation for your CPA firms

Explore different types of augmentations that will benefit all types of businesses.

Staff Augmentation Types

Project-Based Staff Augmentation: This type of staff augmentation is used by businesses to hire accountants for a specific project for a predetermined amount of time.

Skill-based Staff Augmentation: In this approach, businesses hire accountants for their CPA firms who have specific skills and experience across various domains such as healthcare, e-commerce, and fintech. Additionally, they are experts in using tax and accounting software tailored to your CPA firm’s needs. 

Fractional Professionals: Part-time professionals offering specialized expertise on an as-needed basis. You can assign them to tax specialist, controller, Virtual CFOs and fractional CFO positions.

Dedicated Teams: A group of specialized professionals assigned exclusively to a client or project. Employ specialized teams for your CPA firms, such as tax, audit, and financial planning. 

On-Demand Staffing: Access to a talent pool for short-term or project-based assignments. You can hire seasonal tax preparers and bookkeeping support for your CPA firms. 

Onshore Staff Augmentation: Under this model, financial experts who live in the same nation are hired by the company.

Nearshore Staffing: Businesses hire an accountant from a nearby country, typically with similar time zones and cultural backgrounds.

Offshore Staff Augmentation: In this CPA, firms collaborate with offshore accountants from another country, usually one where there is a large time difference, to avoid any time lag in projects and faster delivery of projects. 

Benefits of Staff Augmentation

• Reduced overhead: Avoid costs associated with full-time employee benefits, payroll, and infrastructure.
• Optimized resource allocation: Pay only for the specific skills and time required.
• Skill gap bridging: fill skill shortages within the organization.
• Risk mitigation: Reduce risk by giving talent a try before making long-term commitments for the next projects.
• Faster Hiring Process: Onboard experienced professionals immediately.
• Increased productivity: Offload non-core tasks to augmented staff.
• Accelerated project delivery: Access experienced talent to expedite project completion.
• Enhanced efficiency: Reduce time spent on recruitment and onboarding.
• Innovation with geographical flexibility: Introduce fresh perspectives and ideas from across the globe.

Boost Your CPA Firm’s Efficiency With Invedus Outsourcing

Essence of the Words

In this article, we discussed how staff augmentation offers a dynamic and cost-effective solution to meet fluctuating workforce needs, access specialized talent, and enhance overall business performance.

If you’re interested in outsourcing some of your accounting tasks or learning how hiring virtual employees for your CPA firm can help you achieve your business goals, you can explore more on Invedus blogs

If you need help or want to explore all the possibilities for growing your CPA firm, you can call us at US/CA: +1-888-346-8646 or UK: +44-208-051-2646, or contact Invedus by filling out this form.