With market demands changing rapidly, Canadian companies frequently look outside their own doors for immediate and specialized help, new research shows. A Robert Half Management Resources survey found nearly seven in 10 CFOs (68 per cent) work with external resources, often in combination with internal staff, for major one-time business initiatives, such as a merger, acquisition or regulatory compliance transition.

The new labour model is changing the game for specialized expertise (CNW Group/Robert Half Canada)

CFOs who seek external assistance indicated a need for specialized expertise (60 per cent), immediately available support (46 per cent) and help for full-time internal staff (44 per cent) as primary reasons. Access to new methodologies and processes and the ability to scale teams were also significant factors.

"In the face of advancing technologies and a shifting business landscape companies need to be as nimble as possible to stay ahead," said David King, president of Robert Half Management Resources. "Having the right expertise in place is vital to ensuring that businesses are prepared to adapt. Many leaders today turn to the new labour model, which includes seeking experienced consultants who can help provide the additional insights and resources needed for seamless and successful organizational transitions."

"Business units often lack the staff levels and skills needed to tackle unplanned events or major strategic initiatives," said Jay Thompson, a Protiviti managing director in the Business Performance Improvement practice. "A firm providing managed services can quickly mobilize consulting expertise and specialized operational skill sets for initiatives that companies have to get right. Establishing an ongoing working relationship with an external firm builds familiarity with the organization's people and processes, further enhancing the ability to help deliver change, thereby adding value to the enterprise."

Robert Half Management Resources offers these best practices when determining resource needs and working with external providers:

Analyze in-house resources and external staffing needs based on gaps in the available labour pool, specialized skills and project-oriented experience.
Create a budget for specialized, project-based staffing and consulting resources. Include separate budget categories for anticipated and unanticipated initiatives.
Determine if project-management responsibilities and new methodologies are needed.
Establish a knowledge-transfer process so key learnings from the initiative are shared with staff prior to consultants' departure.
Conduct post-project meetings with the external services provider to assess process discoveries and facilitate future collaboration.