The Future of Finance Hiring: Why Businesses Are Turning to Contract Talent

Jeremy Tiffin • March 19, 2025

The finance function has evolved. No longer just responsible for reporting and compliance, finance teams today are expected to act as strategic advisors, helping businesses navigate economic uncertainty, regulatory complexity, and digital transformation. However, finding and retaining top finance talent has never been more challenging. 


With the increasing complexity of financial operations and the rapid pace of change, companies are realizing that traditional hiring models no longer offer the flexibility they need. More businesses are leveraging contract and interim finance professionals to fill critical skill gaps, manage high-stakes projects, and bring specialized expertise on demand. These professionals offer companies a cost-effective, efficient way to execute major initiatives while maintaining daily operations. 


Yet, while contingent talent provides agility, long-term success requires a balanced workforce strategy that incorporates both permanent and contract hires. Permanent employees bring leadership, institutional knowledge, and continuity, while contract professionals provide the ability to scale quickly and bring in expertise when needed. 


This article explores how companies can optimize their finance teams by effectively integrating contract professionals into their workforce strategy. 


1. The Strategic Advantage of Contract Finance Professionals 


The ability to scale a finance team up or down based on business demands is becoming a competitive advantage. Businesses no longer need to carry excess headcount during slower periods or struggle to find talent when needs increase. Contract finance professionals provide a solution that allows organizations to remain agile while managing costs effectively. 


Flexibility to Scale Up or Down 


One of the most significant advantages of contract finance professionals is their ability to step in during peak demand periods and step out when the workload decreases. Businesses with fluctuating financial needs—such as those undergoing system implementations, mergers and acquisitions, or audits—can leverage contingent talent to avoid overburdening their permanent teams. 


Instead of hiring full-time employees for temporary needs, organizations can bring in highly skilled contract professionals for specific projects or periods of rapid change. This allows businesses to stay agile without making long-term financial commitments. 


Cost-Effectiveness Without Long-Term Commitment 


Hiring full-time finance professionals comes with long-term costs, including salaries, benefits, and professional development expenses. In contrast, contract finance professionals allow businesses to access specialized skills without these additional overhead costs. 


For companies that need highly skilled expertise for short-term projects, hiring a contract professional can be a more economical solution than recruiting, onboarding, and training a full-time employee. 


Access to Specialized Skills 


Finance teams are facing growing demands in areas such as digital transformation, compliance, and financial risk management. In many cases, companies need highly specialized finance professionals who can step in and deliver results immediately. 


For example, an organization undergoing an ERP implementation may require a finance systems expert to oversee the transition. A company preparing for an acquisition may need an M&A specialist to handle financial due diligence and integration planning. Similarly, businesses dealing with complex tax planning and compliance issues can bring in contract tax professionals with deep regulatory expertise to optimize their tax position and ensure compliance with evolving laws. 


These are not necessarily roles that need to be filled permanently, but they require deep expertise that is not always available in-house.


2. Enhancing Business Agility with a Contingent Workforce 


The ability to adapt to change quickly is a defining characteristic of successful finance teams. Businesses that rely solely on permanent hires may struggle to respond to evolving financial challenges. Contract finance professionals allow businesses to pivot quickly and execute financial strategies with precision. 


Improved Agility in Financial Planning 


Companies that leverage contract finance professionals can adjust budgets, forecasts, and financial strategies as market conditions change. Unlike permanent employees who are tied to specific roles, contract professionals can be brought in for targeted financial planning initiatives, such as cost optimization projects or strategic growth assessments. 


For example, companies facing economic downturns may need contract finance experts to help reassess budgets and identify cost-saving opportunities without disrupting core business operations. 


Strengthening Financial Controls and Risk Management 


As businesses expand, financial risk becomes more complex. Contract finance professionals specializing in compliance, audit readiness, and regulatory reporting can help strengthen financial controls without disrupting day-to-day operations. 


For instance, an interim SOX compliance expert can ensure that internal controls are aligned with evolving regulations before an external audit. This targeted approach reduces the risk of compliance violations while allowing existing finance teams to focus on core business functions. 


3. Any Role Can Be Suited for a Contractor—If It’s Done Strategically 


Traditionally, businesses categorized finance roles as either permanent or contract-based, but that’s changing. In reality, almost any finance role can be suited for a contract professional, depending on business needs, timing, and the specific expertise required. 


Rather than deciding whether a role should be full-time or contract, businesses should ask: 


  • What is the immediate business need? If the need is project-based, a contract professional may be the best solution. 


  • Is there existing internal expertise? If the company lacks a specific skill set, bringing in a contract finance professional with deep expertise may be the most effective approach. 


  • What’s the long-term business outlook? If the role requires ongoing responsibility and leadership, a permanent hire may make more sense. 


Many organizations are rethinking workforce structures to incorporate a mix of contingent and full-time employees, allowing them to build a more adaptable and cost-effective finance function.


4. Implementing a Hybrid Finance Talent Model


Deloitte highlights that the gig economy is now a permanent fixture in workforce planning, and finance teams must embrace a hybrid model that combines both contract and permanent hires. 


To make the most of contract professionals, finance leaders must evaluate their workforce strategy and determine where contingent talent fits best. Companies that proactively develop a pipeline of trusted contract professionals will be better positioned to bring in the right talent quickly. 


Conclusion 


Finance teams that integrate contract professionals strategically can scale more efficiently, execute high-impact projects, and enhance financial agility. The companies that embrace this hybrid workforce model will be better positioned to navigate evolving business challenges. 


The real question is no longer whether to hire contract finance professionals—it’s how to do it strategically. 


 


Horizon’s accounting and finance recruitment division is a trusted leader in Canada, connecting top financial talent with organizations across industries such as insurance, healthcare, manufacturing, mining, and more. Our expert team specializes in sourcing professionals who drive financial performance, compliance, and strategic growth. 


Discover how our tailored recruitment solutions can strengthen your finance team or connect with one of our experts today. ï»¿

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