In this episode, we’ll explore the concept of Shared Talent and how companies can leverage niche expertise to enhance their teams, create efficiencies and save money in your Accounting, Internal Audit, or IT Department.
Our guest is Carly Devlin, Managing Director at Clark Schaefer Consulting. Carly leads the Shared Talent area for the firm.
Podcast Show Notes:
What is a Shared Talent Model?
A Shared Talent Model is a way to utilize highly skilled professionals without the accompanying overhead. When you utilize a Shared Talent Model, you benefit from expertise that you may not have been able to afford hiring an in-house team.
What are some of the reasons a company might want to consider using this type of model for its staff?
One reason is that they are short staffed. The most successful companies have talented teams. Our clients often find themselves short-staffed, however, because team members are being pulled into other initiatives, or there simply aren’t enough hands on deck. Under a Shared Talent Model, talent can be procured on a per-project basis or longer term. It all depends on the specific needs of the client.
Since the changes brought about during the Covid-19 pandemic, have you seen an uptick in organizations looking to augment their staff?
We have seen a huge increase in organizations looking to augment their accounting, internal audit and IT teams. We find organizations have been losing staff at the last minute due to employees that are on medical leave or that have been furloughed, or been redeployed to focus on Covid-19 related initiatives.
Many organizations continue to be challenged with Covid-19 concerns, including how to acclimate to the new norm and accomplish work according to deadlines, without adequate resources.
What are some of the benefits clients can expect to realize by using a Shared Talent Model?
One major benefit is that our consultants become an extension of your team without the overhead of hiring a full-time employee when it’s not justified by the business or project need. By using our Shared Talent model, you receive someone with a consultative mindset that’s used to tackling any project or challenge that comes their way. One of our Shared Talent Model clients benefited from this when our consultant was brought in to backfill an accounting role, but ended up automating the process to save the organization time and money.
Another benefit is that when our clients engage us for the Shared Talent Model, we can provide the organization with specific subject matter expertise they may need only for a short period of time. For one client specifically, their internal audit team lacked cybersecurity knowledge, so a member of our internal audit practice was brought in to help their team execute this cyber audit and transfer some of their knowledge to their team.
Are there any concerns with culture clashes when talent from outside the organization is brought in on a sometimes-temporary basis?
Obviously, trust is the key here. You want talent that is adept at assimilating into cultures and becoming part of the team quickly. Our Shared Talent Consultants have expertise, integrity and inarguable business acumen, which allows them to earn employees’ trust and create a truly collaborative environment. Look for a provider with a track record of seamless integration into its culture, and don’t be afraid to ask them specific questions about how they’ve handled challenges in this area in the past.
What about timing? Does a Shared Talent Model mean that a company needs to collaborate with the vendor on timelines?
Under a Shared Talent Model, work is completed according to your timeline, all while providing a holistic, customizable approach to your needs. It’s just like having someone in-house, only without the added overhead.
What’s the first step to incorporating Shared Talent into my company?
Most providers will do a complimentary consult to determine how your needs match up with their services. There are so many different options for incorporating a Shared Talent Model, so having those initial discussions to determine your organization or team’s specific need is a critical first step to determining how this model may help you.