Rose Report: Issue 49

2022 Annual Planning: What Will Your Workforce Look Like?

By Ted Rose, CEO, Rose Financial Solutions

Simply put, an annual plan serves as a financial roadmap that helps your company stay on track to meet your goals. As businesses set up their annual plans for their company and employees, it’s important to examine the past year’s performance to help inform goals for the coming year. Most importantly, an annual plan manages expectations. It assists everyone in the organization, from department heads to managers to entry-level employees, in understanding their annual goals.

The statement, “Plan Your Work. Work Your Plan” has long been the staple of many successful businesses. However, as company leaders finalize their 2022 strategic plans, there is a sense that no matter how hard you plan, unforeseen bumps in the road may arise in these unpredictable times. No wonder considering for nearly two years business leaders have been on a rollercoaster ride with dips and turns as a result of the health crisis. With that in mind, it’s particularly important to ask yourself, “what will my workforce look like next year and how will it impact my bottom line?” when developing your strategic plan.

The ‘New’ Office
In order to keep their employees safe at the onset of the pandemic, most businesses implemented telework solutions. As a result, many employees have adapted to working remotely and prefer to split their time between home and the office. In fact, according to the research, 56 percent of employees want their companies to offer flexible hybrid virtual-office working models. With the current unpredictable economy in mind, many businesses are expected to adopt a remote work environment as the new standard, while also deploying disruptive solutions to cut costs and boost productivity. In fact, according to a Gartner survey, 32% of organizations are replacing full-time employees with contingent workers as a cost-saving measure.

Given the unpredictable business landscape, companies should build some variability into their strategic planning. Are there certain functions that could be outsourced that can scale up and down depending on 2022 business developments? Many CEOs are questioning how they may cut expenses, enhance productivity, and gain financial clarity without having to invest in an expensive accounting system or hire additional finance and accounting professionals in these unpredictable economic times. Finance as a Service (FaaS) is a scalable solution that provides a combination of technology and high-value support, including financial management and strategic guidance.

Rose Financial Solutions’ (RFS) FaaS solution goes beyond typical accounting outsourcing by combining our cutting-edge technology platform, Easby™ powered by RFSWorkflow™, with our team of experienced finance, accounting, and tax professionals—at a fraction of the cost of an in-house team. Through our solution, our clients have a roadmap to consult regularly to improve financial performance and meet their business objectives. Find out more about our scalable solution by scheduling an introductory meeting.

This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business.