Fractional accounting teams are gaining attention as an economical way to support growth – in any organization.
Fractional teams, by definition, are an outsourced group of professionals that fill a necessary gap in your organization.
As pressures from the economy force many businesses to do more with less, they need to take a page out of the startup playbook. By taking on fractional hires to fill their skills gaps, they can meet their business needs efficiently and economically. We are seeing more fractional services offered across industries for roles such as Human Resources, Marketing, and of course, Finance. These teams are shifting from temporary to permanent in the current market.
Here’s a few must-know facts about the cost considerations of fractional accounting teams.
Our Hourly Rate is All-Inclusive
Most cost objections come before we start requirements gathering or quote the engagement. Here’s what you need to know: we are here to help you optimize performance and save you money. We are accountants, after all!
You don’t need to worry about employer portions of Canada Pension Plan (CPP) or Employment Insurance (EI), or other burden costs. We cover benefits, insurance, and any health spending. Sick days and vacation coverage or cross-training an issue? Especially over payroll dates? That is okay. Our team covers these dates, as well as the cost associated with employee sick time, bereavement leave, and vacation.
Training is On Us
Most training, system knowledge and professional development is covered by CFO Group Inc. We train on the accounting systems and already have best practices in-mind. We provide annual training so you don’t pay for employee development. Onboarding and training employees is costly. At CFO Group you know you are getting experience and a resource you know has the knowledge required to help you succeed.
No Recruitment Challenges or Costs
According to a report by the Society for Human Resource Management (SHRM), it costs employers an average of $4,129 and takes an average of 42 days to fill an open position. What is the price of recruiting to your organization? Avoid the cost of employee turnover, posting, interviewing, and replacing employees. We’re ready to hit the ground running from day one.
We Cost Less than a Full-Time Hire
We are here to help with the math. Trust us! Our contract team is less than a full-time resource, even after considering all of the above costs! You get a diverse team, and multiple levels of expertise, for the same cost or less! Also, you can dial-up or dial-down the hours and project costs as needed.
Are you ready to dip your toes into the fractional employee pool? We’re ready to help! Contact us today to learn how the CFO Group can support your organization.
