The community association management industry is facing a serious drought: qualified community management professionals simply cannot be found. They are overworked and underpaid and yet still somehow cost management companies a small fortune whenever a new hire does come on board. But there is a solution. This series will cover the roles a virtual assistant can easily and affordably take on to help your staff take back their workday! This article will talk about why an HOA Accounting Assistant could be the best choice for your management company
Community association management companies are struggling on a lot of different fronts right now. The lack of qualified community managers and other industry professionals entering the workforce is creating a blanket of tension and financial uncertainty. This, plus what experts are aptly naming “The Great Resignation” (people leaving their jobs en masse for better pay, benefits, or quality of life) has hit management companies particularly hard. With a dwindling workforce that seems to be getting thinner and thinner, how are you expected to adequately support your clients these days?
Chances are every person in your office is feeling the burn from the turmoil of today’s job market. Everyone is taking on tasks and responsibilities that tend to fall under “other duties as assigned” just to help keep things running as smoothly as possible. It’s great knowing that you have a dedicated group of people who are willing to go above and beyond for your clients, but it’s that exact mentality that has caused this Great Resignation movement to grow so quickly.
Loving your job simply isn’t enough anymore for so many people. They’re watching friends and family “trade up” to a new job with a smaller workload and bigger payout. They’re starting to think that they can’t continue to burn the candle at both ends, no matter how much they love their clients or their company. Your accountants especially are underwater, because there isn’t really anyone they can offload the work to except one another. And if your team has only one person handling your accounting, they are feeling the weight of their work. You may start to see this in task completion time –maybe they’re a little late processing late fees, getting monthly financials out, or taking longer than expected to respond to balance inquiries from homeowners. Getting everything done on time and accurately is crucial in any financial role. Helping better distribute some of their tasks is the best thing you can do for your accounting staff members.
The first step to fixing this issue is lighting the beacons and calling for aid. But the kind of aid you call for is what will make all the difference.
For example, the typical search for help begins by looking for a specially trained accounting professional. Obviously, right? Because if you add to the number of accountants you have on staff, the workload will surely diminish. And that’s true, but it’s also pricey.
A licensed, qualified accountant will cost you a very pretty penny. The Great Resignation isn’t just seeing a mass exodus, it’s also seeing a mass influx of possible new staff members, but they all want the most pay and the most benefits. And they deserve it! But can you afford it? If your staff is buckling under the weight of too much responsibility, chances are you can’t reasonably afford the number of professionally trained accounting professionals it would take to ease their burden.
Most people hear “virtual assistant” and immediately assume that to mean an appointment setter or executive assistant. Those are just two of the plethora of functions a quality, English - speaking virtual assistant can handle.
At HireSmart Virtual Employees, we know that your staff is balancing all their most important tasks as well as the seemingly mundane – answering phone calls from clients, managing schedules, or handling reporting. Those skills pair beautifully with the needs your accountants have today. Do they need to process late fees and fines, but can’t seem to find the time? A Virtual HOA Accounting Assistant can cover that, no problem. Generating resale packages is exhausting, let an HOA Accounting Assistant sort that out. Need someone to enter vendor invoices? Or process payment batches? An HSVE Virtual HOA Accounting Assistant will take care of it.
Your accountants should be able to take back their workday so they can focus on the mission-critical accounting tasks that they have the skills to tackle. Giving your team an assistant to juggle the minor tasks is the best way you can ensure they do just that.
When the time comes to start onboarding a new support system for your accounting team, HireSmart Virtual Employees is here to help. Book your 30-min discovery call today to start the process of getting paired with your future HOA Accounting Assistant.