Planning for Sequestration | Virginia
- November 13, 2014
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We've all been exposed to urgent media commentary on the upcoming “fiscal cliff”, a looming financial deadline our country is expected to face on January 2, 2013. On this date, a broad collection of tax cuts are set to expire and a series of government programs will be arriving at pre-established end points. This cessation of programs, known as sequestration, will have a powerful impact on both individuals and organizations that depend on various forms of federal funding. Even though there may be a last minute deal by Congress to avoid the impacts of sequestration, you must plan for ways in which to get the year end work completed with the maximum of flexibility in staffing for these tasks.
Even without the added burden of looming sequestration, April 15, 2013 is also lying around the corner, and for many businesses, this ordinary deadline brings its own set of challenges, especially companies that have been working through the last few years with a limited staff or struggling to expand on a foundation of thin resources.
The Fiscal Cliff and Your Staffing and Accounting Needs
So what impact will these events have on staffing? And how will your current staffing strategy hold up if you’re facing an imbalance between the mountain of work that needs to be done and the small handful of team members available to do it? The end of FYE 2012 and all of the requirements at year end aren't going anywhere and the work needs to be done, no matter what it takes.
How can you push back against the realities of the calendar without making a difficult financial situation worse?
Here at Cordia, we’ve had years of experience and countless conversations with companies facing these challenges. We've been listening closely, and we've learned that some of these problems aren't as complex as they seem. When companies are understaffed and facing staggering financial workloads in an uncertain business environment, the answer lies in one phrase: flexibility in your staffing options .
Hiring on a temporary basis for the project and/ or skill sets you need to get the work done, is an excellent way to avoid long term costs and get the work done now. Contract-to-hire and contract labor can help you tackle the work ahead with minimal risk and minimal long term commitment. And if you maintain tight control over long term expenses, your path to growth will stay clear and attainable as the economy finds its feet and your financial picture improves. Now may not be the time to take on the staffing risks of a permanent employee . In times of uncertainly, when your business is under pressure due to events beyond your control, you need to stay on top of daily financial and accounting tasks without incurring the cost and time of training, the hassles and expenses of hiring mistakes, and the morale and turnover problems that can result from overburdening your current teams.
In order to work hard, you’ll need to hire smart. Turn to Cordia Partners, a Vienna VA Professional Accounting and Staffing organization that can offer screened, trained, certified professionals and experienced accountants. From entry level accountants to CPAs and advanced mid-career financial executives, our network is wide and our levels of finance and accounting talent run deep. Find out how Cordia can connect you to the short-term, long-term, or contract-to-hire finance and accounting professionals you need to help you navigate the challenges ahead and get the work done .