Standing at the starting line of audit busy season can be daunting. The next several months will undoubtedly be the most challenging stretch of the year. At Makosi, we understand the busy season challenges because our team has been there too—as finance professionals and as mentors to our audit seniors. Drawing from experience, we know busy season for public accounting firms and auditors can quickly take a turn for the worse. The key is to plan ahead to mitigate risk and keep your team happy and productive throughout this notoriously stressful time. Here are our tips for staying ahead of busy season burnout.
Ramp up your workforce for audit busy season
When you’re trying to staff up for busy season, other firms in your area are most likely doing the same. The competition is stiff, which is why it’s important to have an audit workforce strategy in place before it’s too late.
During the planning phase, make sure your staff roster is able to handle the workload. One way to bulk up your staff for audit busy season is with on-demand workforce solutions like Makosi.
With Makosi, you get direct access to a global verified talent pool of over 1,000 skilled auditors who can be onboarded within 48 hours. Not only will bringing in extra help make life easier for your full-time staff—it will also ensure your clients get the personalized service they deserve.
Use technology to your advantage
In a more digital age than ever, clear communication is of utmost importance. Especially when the workload gets heavy, and there’s no time to wait for an answer. Before you reach that point, establish clear communication channels for your team.
Luckily, technology has come a long way since the days of AIM (AOL Instant Messenger—for those born after the millennium). Tools like Slack, Google Meet, and Zoom make it easy to stay connected and communicate in real-time.
Embracing technology can also free up your team to focus on other activities that add value to clients. With tools like Firm Flow, you can streamline workflows and keep track of important deadlines. Plus, password managers like 1Password can help you manage security when remote work is thrust upon you from, say, a global pandemic.
Leverage the power of an on-demand workforce
Due to work compression and fluctuating staff utilization of public accounting firms—or what we call “The Wave”—it can be extremely difficult to maintain engagement during slow seasons. Yet, firms need all the human resources they can get during busy season.
When you crunch the numbers, you’re essentially paying full-time staff to warm the bench when it’s slow—and overworking them to the point of diminishing returns during busy season. Seriously, it’s science.
According to Stanford research, work productivity rapidly declines after 50 hours a week. Once you hit 55 hours, productivity all but disappears. Since auditors work 50 to 70 hours during busy season—and in some cases up to 100 hours—on-demand workforce solutions can help distribute the workload and optimize productivity. All without the expenses of maintaining a full-time busy season staff year-round.
That’s why Makosi pairs firms with on-demand audit talent when it matters most. Curious to hear how we can help you get over the busy season finish line? Get in touch.
