When the work is piling up, pedal pushing your workload can seem like the only option, but sometimes you need to slow down to speed up.
Finance teams are expected to be master analysts, experts in commercial process, innovative pricing thought leaders, financial modellers, financial contract managers…and the list goes on!
So it's unsurprising that for many the knee-jerk reaction is to add in more headcount as the seemingly only option.
But did you know on average, it costs anywhere from half to two times an employee's annual salary to hire someone?
Let's do the maths... if the average salary is around £45,112 (which is about average for an in-house finance employee in London in 2024), and you've got to add two new team members to handle the manual workload of your finance function, that could cost you £180,448 over the next year. Ouch.
On the flip side, there is most likely a new tool, process or innovation to drastically reduce your manual workload and the need for the additional headcount for a low monthly fee (and without the added strain of managing a new team!)
Each mention of "I have a spreadsheet for" should trigger a question: is there an app that can do this better? And in most cases, the answer is yes!
That’s why we’re running the London in-house finance event, Stacked.
Designed to help you to innovate, improve efficiency and ultimately speed up your in-house finance team's everyday processes, so you can focus on the strategic priorities.
Here's your two-step process to overcoming inertia and getting buy-in from your business to attend Stacked.
Step 1: Frame The Problem & Your Why
Framing the problem and risk
- State the obstacle that’s currently slowing down your team. E.G. We don’t have the tools to deliver real-time data insights.
Establish a genuine, super relevant, and impossible-to-ignore change
- E.G. We’ve added 3 new entities to the business over the past 12-months, which has our doubled workload.
- E.G. Feedback from engagement surveys, eNPS, and exit interviews from finance team members.
Demonstrate the potential threat or opportunity
- E.G. You don’t have the capacity/resources to assign to the company priorities that matter the most.
- E.G. No clear place to go to or anyone to speak to get advice on how to solve the problems you’re facing.
- E.G. Opportunity to learn about new innovations to save the finance team time and money.
Provide stats to make it tangible
- Show the risk of inaction is greater than the risk of action. E.G. If you were to increase the team by 5% to solve this problem: Hiring Cost > Cost of your Stacked ticket + Solution.
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