- November 30, 2019
- Posted by: Dan
- Category: Remote Working
We understand you are busy. You have got tons of work to do and the stakes are quite high. Amidst all these recruiting, hiring, maintaining salary of resources is a time consuming and challenging task. There are high chances that if may affect your productivity quotient of Big 4 and other accounting firms. How are top notch firms addressing these issues?
Big 4 firms and top 200 accounting firms across the globe have embraced remote staffing as a one-stop solution to all the problems. The article highlights the similarities and differences between remote staffing and in-house bookkeeping services.
SIMILARITIES BETWEEN REMOTE STAFFING AND IN-HOUSE BOOKKEEPING
RECRUITMENT PROCESS
The recruitment process of remote staffing and in-house bookkeeping is similar. The client can submit his requirements and needs to the remote staffing company. Once this is done, the company will carry on the research and bring to the client qualified candidates. Their interview is carried out by the client precisely in the way it is carried out for in-house bookkeeping. It may be via video call or other suitable means. If the candidate clears all the rounds as per the client, he/she is recruited for their work.
CONTROL
The remote staff employees report directly to the clients. They are under complete control and also follow the firm’s system, protocol and policies. The only flipside arises due to lack of face to face communication. But thanks to technology, it has changed the dynamics of communication and collaboration. The clients can leverage Skype, Slack or other video call/ conferencing medium along with conventional means of communication like phone call, email or chat to face the shortcoming.
DIFFERENCES BETWEEN REMOTE STAFFING AND IN-HOUSE BOOKKEEPING
FLEXIBILITY IN HIRING
The nature of workflow and seasonality needs flexible hiring process. Hiring option available in in-house bookkeeping is to go for full-time employee. Remote staffing provides flexibility in recruitment. Each work requires a particular time period. Accordingly, the client can hire a full-time remote employee or a part-time remote employee. The employee will dedicatedly spend the decided number of hours and complete the work with high precision. Also, the firms can increase or decrease the count of remote staff employees as per the work load unlike in-house bookkeeping.
SAVINGS
In-house bookkeeping firms are required to provide employees with all benefits (insurance, payroll, compliance, etc.) no matter what business they bring in. This brings down the savings. Savings can be appreciated when it comes to remote staffing. The clients need not worry about the insurance, payroll, compliance and other benefits for the employees. These things will be taken care by the remote staffing company.
HOLIDAY STRUCTURE
The in-house bookkeeper enjoys the paid leaves granted to him as per the company policy. This affects the work of the firm. However this liberty is not received by the remote staffing employees. Just in case if the remote staffing employee is on leave, his work is taken care by his colleague unlike in-house bookkeeping where the person is responsible for his/her work.
LABOR SALARY
The salary of in-house bookkeeping employees is around $20-$25 an hour while the remote staffing firm charges around $8 per hour. This affects the bottom-line of the firm positively.Embracing remote staffing lead to 75% savingson overall staff cost.
I am sure the points might have given you a clear picture of how remote staffing has got an edge in comparison to in-house bookkeeping. It can also help you make a right decision!
KM Accounts exclusively works with small and mid-sized businesses offering business services like Finance, Accounting, Recruitment, Payroll, Remote Staffing, BPO, and digital marketing. We serve 30+ clients across significant economies, providing them with experienced experts starting at $8/hour. The cherry on the cake, we have helped them save as much as 75% of their labour cost.
Should you want to talk about it, we are just a call away!
