All About That ROI: Why Superstar Workers Are Worth Their Weight in Gold
September 15 2020 • 2 min read
The competition for today’s top audit talent is fierce—and it shows no signs of slowing down anytime soon. Take the 2019 unemployment report from the U.S. Bureau of Labor Statistics, for example. Between Q3 and Q4, the unemployment rate for accountants and auditors dropped from 2.0% to 1.4%—which is notably lower than the national unemployment rate of 3.5%.
As employment demands in the accounting and audit field continue to outpace the average demand for all other occupations, public accounting firms must adapt and take a virtual-first approach to engage top talent and reap the best ROI. Here's why the benefits of skilled workers are more important than ever before.
Digital is changing the game
Technology is transforming the way people work. Now more than ever, organizations are turning to remote work in droves. As companies rapidly adapt to remote work, they realize the potential for increased productivity among virtual teams. As a virtual-first team, Makosi has been at it with the “new normal” since day one.
Accounting firms are also taking advantage of digital channels to tap into previously inaccessible hiring markets, increase productivity, and reduce costs. When you partner with Makosi, you gain access to a worldwide pool of qualified candidates with the tech know-how to increase efficiencies through a strategic lens.
On-demand is the new ROI
On-demand has changed the world in more ways than video streaming and rideshare services. Companies are also looking to the on-demand workforce to fulfill their needs in a timely and cost-effective way. The benefits of these skilled professionals are twofold: on-demand talent reduces the cost associated with traditional hiring, and it provides access to specialized skills companies may need on a per-project basis. And thanks to today’s technology, accounting firms can tap into a global pool of skilled on-demand auditors.
So how do on-demand auditors increase a firm’s ROI? Since the actual cost of a skilled worker is more difficult to calculate than set-cost products and services, the exact ROI can be more challenging to pinpoint. However, a full-time employee requires a full-time salary, training, and benefits year-round—while an on-demand professional is pre-trained and paid for a specific project or duration.
Consider that the average salary for auditors in the United States is $71,550 per year, according to the U.S. Bureau of Labor Statistics. Add to that an additional $12,000 per employee per year for office space, and you’re looking at an annual cost of $83,550 (not accounting for benefits, recruiting, and retention costs).
Alternatively, firms that work with an on-demand Makosi audit senior save time, money, and energy associated with a full-time employee. Because Makosi takes care of everything from logistics to management and coaching, offices can have a fully integrated team within hours—rather than the standard six months it takes to onboard new hires.
What skilled workers really want
Surveys upon surveys also suggest that today’s skilled workers prioritize perks like professional development, work-life balance, and the flexibility to work from anywhere. And individual happiness leads to improved productivity, which ultimately increases the ROI of skilled talent.
At Makosi, we not only pair your organization with highly skilled and motivated auditors from around the world. We also invest in the professional development, training, and happiness of our candidates to get you the highest return. Because we’re not a staffing firm. We’re a recruitment platform that invests in putting people first.
The benefits of skilled workers can make (or break) your organization
Your company is only as steadfast as the people who work there. To thrive in today’s increasingly competitive market, public accounting leaders must evolve to meet the demands of skilled auditors. In return, they’ll attract superstar players who are worth their weight in gold.
At Makosi, our patented system and tech-forward approach bring you the audit seniors you need, when you need them—without the high-costs of recruiting, training, and retention. The future of audit is on-demand. Are you ready to join the game-changers? Contact us to find out how Makosi’s on-demand workforce can benefit your bottom line.