After several years of uncertainty, Houston’s oil and gas industry is in the early stages of a recovery. Companies are ready to bring on new accounting talent, but finding full-time hires with specialized skill sets is a challenge. Rather than letting positions go unfilled or settling for a less-than-perfect hire, companies are opting for a third way: contract-to-hire positions.
As a Senior Partner and Practice Manager in Lucas Group’s Houston office, I specialize in providing experienced accounting talent for high level consultants, short-term projects, long-term contracts, and contract-to-hire positions. Since January, we’ve seen a steady uptick in the demand for contract-to-hire talent to fill positions including accounting managers, plant controllers, assistant controllers, senior accountants, accounts payable, and collections.
With the marketplace going through a transition period, opting for contract-to-hire talent is a smart choice for Houston-based companies. Here’s why:
Immediate solutions. Onboarding a new hire can be time consuming: candidates must be vetted through multiple interview rounds, compensation negotiated, notice given for resignation, background checks completed and new hire paperwork filed. Several months could easily lapse between the initial search and your new employee’s first day of work. Bringing on contract talent is a much faster process. These candidates are fully vetted and ready to hit the ground running as soon as you contact an agency requesting support. If you need to bring on immediate talent, partnering with an executive recruiting agency will shrink your timeline down from months to a matter of days.
No-risk hiring flexibility. When you bring on a contractor, you’re accessing top talent without the risks associated with a full-time hire. That’s because the hire is paid through Lucas Group, rather than your company. Should your company’s needs change due to a market down turn, you won’t be stuck with a team of full-time hires that you can’t afford to keep on staff. Rather than downsizing these employees and dealing with severance payments, you can simply notify the recruiting firm that additional support is no longer needed.
Trial run prior to full-time commitment. While some candidates may have the perfect skills and experience, a personality mismatch with other team members or management could hurt productivity and bring down the entire team. Conversely, your company culture or advancement opportunities might not align with the contractor’s expectations. Contract positions allow both the candidate and company test one another out prior to a full-time employment offer. When the time comes to make that offer, your company and contractor will know exactly what to expect, positioning everyone for success.
Performance that exceeds expectations. In a contract-to-hire placement, contractors treat every day like a working interview. Contractors are acutely aware that every success or mistake may later play a role in the final hiring decision. Companies benefit from a highly motivated employee who is passionate about giving his or her absolute best each and every day– a level of engagement and productivity that positively impacts the entire accounting team.
Cost savings benefits. With a Lucas Group contractor, your company won’t need to provide costly health insurance benefits or worry about a contractor leaving in search of better benefits elsewhere. That’s because Lucas Group covers 100% of contractor health insurance on a monthly basis. Our competitive benefit offerings ensure we retain the highest quality professionals at no additional cost to your company.
Could your company benefit from hiring accounting talent on a contractor basis? To learn more about the contractor-to-hire process, contact me at firstname.lastname@example.org.