When To Hire And When To Inspire
Building a High-Performing Finance Team
For finance and accounting managers, creating a team that can meet deadlines, deliver accurate reporting, and support business growth is essential. But how do you know when it’s time to hire additional help or when it’s better to inspire your existing team? While hiring can fill gaps, motivating your team to unlock its full potential is equally crucial.
Here’s a guide to identify situations where hiring or inspiring can make the biggest impact—keeping your finance and accounting team operating at its best.
When to Hire: Bringing in New Resources
Hiring should be thoughtful and strategic. In small business accounting, where accuracy, efficiency, and compliance are critical, knowing when to bring in additional resources can help your team thrive without burnout.
1. When Workload Exceeds Capacity
If your team’s workload consistently exceeds capacity—overtime increases, errors creep in, or stress levels rise—it may be time to hire. In one engagement, I supported a client through a high-volume system implementation while they prepared for an upcoming audit, allowing their team to focus on daily operations without compromising quality.
2. During Transition Periods
Major organizational changes, like mergers or system upgrades, can strain even the most prepared teams. Temporary support from outsourced accounting professionals can provide flexibility without long-term commitments.
3. For Projects Requiring Temporary Expertise
Some projects require specialized skills your team may not have. For example, I once reviewed hundreds of customer contracts to ensure technical accounting treatment aligned with GAAP, a task beyond the scope of the client’s internal staff. Temporary experts can fill these gaps and ensure compliance without overloading your existing team.
4. To Address Skill Gaps
As your organization grows, advanced skills may be necessary. Whether it’s a financial analyst, tax specialist, or fractional controller, hiring strategically fills gaps and strengthens your team’s overall capabilities.
When to Inspire: Empowering Your Existing Team
Not every challenge requires hiring. Motivated, cohesive teams can deliver exceptional results without additional headcount. Here’s how to inspire your finance team:
1. Share the Vision and Goals
When team members understand the bigger picture—whether it’s supporting growth, managing budgets, or preparing for acquisitions—they’re more engaged and motivated.
2. Foster Professional Growth
Continuous learning keeps your team sharp and confident. One of my best client experiences involved coaching a talented but inexperienced senior accountant. By working side-by-side on projects, we built their confidence, enhanced their professional reputation internally, and still delivered strong results.
3. Encourage Ownership and Autonomy
Empowering team members to make decisions within their areas of expertise drives engagement and efficiency.
4. Recognize and Reward Excellence
Acknowledgment goes a long way—simple recognition reinforces performance and motivates continuous improvement.
Creating Balance: Hiring and Inspiring for Team Success
Building a high-performing finance team requires balance. Strategic hiring relieves strain, brings in new skills, and addresses short-term demands, while inspiring your existing team ensures they’re engaged and resilient.
By knowing when to hire and when to inspire, you can build a small business accounting or startup bookkeeping team that not only meets today’s demands but is also prepared to drive long-term growth.
