In this article, we discuss how the COVID-19 pandemic has opened up new opportunities for tax departments to leverage the Talent Economy. Key points include:
- Remote work has made it possible for tax departments to access a nationwide pool of skilled consultants, which we call the Talent Economy.
- This larger talent pool offers both increased quality and quantity compared to traditional professional service firms.
- The Talent Economy can help optimize consulting budgets by providing:
- A dramatic decrease in costs
- Greater flexibility in hiring (individual contractors, teams, or fractional workers)
- Access to highly specialized skills for specific projects
- We highlight that many experienced Baby Boomers are joining the Talent Economy after leaving full-time positions, offering valuable expertise and potential for knowledge transfer.
- We introduce TaxForce as a platform that connects tax departments with pre-screened, highly skilled consultants at a fraction of the cost of traditional firms.
Overall, we argue that the Talent Economy represents a significant shift in how tax departments can access skilled professionals, offering cost savings and flexibility that were not previously possible. We present this as a timely solution for tax departments facing budget pressures and increased workloads.
