Today, recruitment has become multi-dimensional with the growth of new technologies, the urgency to optimize budgets, and the growing challenges of staying ahead of the competition. That’s why companies need varied hiring strategies to keep pace with the changing trends. Businesses are required to revamp their recruitment strategy and include temporary staffing to lower their costs and increase productivity at the workplace.
A recent study by Upwork revealed that there will be a 179% increase in the amount of work done by temp workers in the next 10 years. Temporary workers are the best solution for specific projects or short durations. You don’t have to keep them for the long haul. Also, there is a low cost associated with employing temp workers. A study has found that full-time employees waste 25% of their workday in non-productive activities, but temporary employees don’t waste their time on such things as they are required to accomplish a lot in a short time frame. Another benefit with temporary staffing is that you can hire a temp worker for a trial period, and if you have a positive experience with him, you can offer him a full-time position, thus saving you money and time.
The unique benefits of temporary staffing are finding resonance in a variety of industries like FMCG, healthcare, IT, retail, hospitality, finance, public service, eCommerce, infrastructure, and telecom. If you are still confused if you should go for temporary staffing, then check out the following ways to determine your hiring needs:
What Are Your Needs?
Businesses in the retail and hospitality sectors have particular peak months. You need temporary staff to cover seasonal fluctuations. Your temp workers can help your business meet the seasonal demands of your customers and keep control of your cash flow.
If you have permanent employees who are on maternity leave or medical leave, you can take the help of temporary staffing to cover your full-time staff. If you have permanent employees who are overworked and constantly under pressure to work more than they can handle, it is going to pose health risks to your employees. Boost staff morale, efficiency, and some rest to your perm employees by hiring temp workers.
If you are short-staffed, need a new employee with niche skills, temporary staffing can be of great help for your organization. See, when you know what your needs are, you can easily determine if temp staffing is the right choice for your organization.
Do you have a limited budget for resources?
We all know competition in the business world is tough today. That’s why companies look to cut costs or save costs in every department where they can.
Hiring full-time employees is way costlier than temp staffing. You will have to give your perm employees salary, benefits, insurance, PF, ESIC, incentives, and taxes as part of the total compensation. There are hidden costs too. Your recruiters will spend time to source, interview, recruit, verify, and onboard permanent employees. Temporary staffing firms absorb all the costs associated with these tasks. This is one aspect of cost-cutting when you have a limited budget.
The best way to save costs when hiring new staff is to go for temp workers. Bad hires are costly. According to an estimate, bad hires cost $240,000 in expenses related to hiring, salary, and retention. With temporary workers, you can utilize “try before you buy” strategy. If you feel the temp worker is doing exceedingly well in your project, you can confirm him or her as a perm employee with complete confidence and satisfaction. This will save you costly bad hires.
Do you have enough time to make new hires?
Time-to-hire is the time taken by a company to select and hire the best candidate for an open position. According to the data from LinkedIn, only 30% of hiring managers are able to fill a vacant role within 30 days while 70% of companies take 1 – 4 months to process a new hire. However, the average time-to-hire can differ, depending on which industry you are in, specific roles you are advertising, the city where you need a new employee, and the country from which you operate your business.
One of the best ways to fill a position when you don’t have enough time for making a new hire for any project or assignment is temporary staffing!
Staffing agencies can help you find the right mix of talents to achieve your business’ short-term and long-term goals while saving you time and money. Although there is a fee associated with hiring a staffing agency, they are experts in hiring the right person in a short time frame when you have urgent requirements.
There are myriad benefits of temporary staffing, but the overall value can be determined only when you answer the above-mentioned questions before partnering with a staffing agency.
If you’re looking to hire temporary workers or add IT contractors to your team, contact Perito. Our flexible staffing services include temporary and contract staffing, contract-to-hire, and direct placement services. We can customize our recruitment solutions to meet the unique requirements and objectives of our clients.