The benefits of hiring a finance professional in a temporary capacity

Niamh Collins 05.04.2019

In an ever changing work environment it is paramount that organisations are capable of scaling to meet business needs.

The finance recruitment market is the strongest & most diverse it has been in 4+ years with no sign of stopping. What this means for companies planning to hire is that it is also one of the most competitive from a hiring stand-point. In some cases interview processes which used to take 3 rounds & testing over the course of a few weeks have now been condensed to a phone screen & a morning interview as there is such a demand for talent!

With that in mind the facility to hire in a temporary capacity is growing in popularity amongst multinational’s & SME’s & it’s easy to see why. Hiring someone in a temporary role (we often refer to this as “on Morgan McKinley payroll”) gives you the flexibility to scale your workforce at short-notice. You don’t need to wait for approvals from the board or a parent company as it doesn’t affect your budget headcount.  It is important to note from the outset that if you hire in a temporary capacity initially you will always be able to extend or make permanent on your own payroll.

Reasons why you would hire a temporary person?

  • Sick leave (either fixed or flexible duration)
  • Project ramp-up/backfill
  • Maternity/parental leave
  • Business expansion with no headcount available
  • Holiday cover (we can cover from as short as 1 day)
  • Finance system upgrade
  • SOX testing

Some significant benefits and savings of the temporary method include:

  • We handle all payroll administration including all related queries (tax, P45s, holiday accrual etc.)
  • There are no hidden charges so you can account for all costs associated with the hire
  • You will only pay for actual hours worked
  • Payment for bank holidays and annual leave are covered by Morgan McKinley
  • You can transfer the person onto your payroll on a fixed term or permanent basis with 1 days’ notice
  • We have a dedicated contractor experience team who will be an additional point of contact for you & the temporary candidate over the course of the assignment

For further information on hiring in a temporary capacity you can reach me on 021-2300300. Alternatively if you just want a chat through the current market trends or looking to discuss upcoming needs feel free to reach out to myself or any of the team

Niamh Collins's picture
Associate Director | Accounting & Finance


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