Why temporary staffing is at an all-time high?
Every organization goes through a series of changes when there is a scaling of the business. Irrespective of the type or nature of the business, there is always a requirement for talented resources who can add value to the organization. However, resources can be added to a particular team or project depending on the project requirements and financial state of the company.
There are many sectors where demand for resources surge during a particular time-frame and after some time, the demand nullifies. Instead of hiring people on the company payroll and adding to the fixed expenses of the organization, organizations opt for temporary staffing. The advantage of temporary staffing is that the contract staff is only hired when there is a requirement for resources in a project for a shorter duration of time.
People who work on a contract basis are associated with the company till the time the project is complete, post which they can be relieved or shifted to another project. This leads to huge cost savings for the organization. Many people who work on contract are highly skilled and in huge demand, hence they do not mind working for new clients since they get to learn new skills by working on different projects.
Temporary staffing spans across different verticals and positions within a company. Many startups even look for CXO level people on a temporal basis. Temporary staffing is one of the ideal ways through which companies can utilize workforce management in a more optimum form.
Some of the major functions across which contract staffing is more prominent are:
- Finance & Admin
- Marketing & Sales
- Logistics and Merchandising
- On-field technicians
- Front-line workforce
- Payroll management
Talking about Payroll management, many mid-sized organizations do not see the need to hire full-time finance professionals. The primary reason is that the finance team might not be fully loaded with work hence; it does not make business sense to hire them on the company payroll. Instead, such organizations opt for payroll outsourcing solutions from reputed contract staffing companies like ManpowerGroup. The company gets talented resources if they partner with ManpowerGroup which is a reputed innovative workforce solutions provider.
Payroll outsourcing is even gaining popularity with larger organizations as there are significant benefits in terms of cost-effectiveness, low risk, efficiency, etc. If a resource is not performing as per the expectations, (s)he can be replaced with a new resource after discussing with the contract staffing company.
Payroll is also linked to a lot of external factors like legal compliance, tax legislations, employment regulations, data requirements & compliance, etc. and these aspects are complex. An experienced finance professional can do wonders to the finance & payroll team as (s)he is well-versed with the fundamentals and complexities of corporate finance. The other vital advantage of payroll outsourcing is that it helps the key professionals/leaders focus on the business and growth of the organization.
Contract staffing in different business verticals and across industries is picking pace but it is important to choose the right partner to fulfill the requirements.