It’s no news that the labor market has continued to tighten, and as the costs of hiring and retaining talent rise, an increasing number of employers are rethinking their approach to business management. In recent years, a “gig economy” of contract, temp, and freelance workers has gained momentum within established corporations.
That isn’t to state that long-term employment is dying, but for many employers, full-time employees are simply not a viable option. A growing number of businesses are turning to a new approach to employee management, one which offers a greater degree of flexibility and a more cost-effective workforce. One notable platform that caters to this demand is Upshift.
This guide provides a detailed explanation of this innovative approach to staffing and how it stands out from the standard employment model.
Even though job growth has declined by 4.7%, the overall outlook over the last 10 years has been positive (15.2% growth). This analysis implies that there is more potential for the labor market than what is currently demonstrated. Companies are simply overlooking this opportunity.
The reality is, a growing number of businesses struggle with employee retention. As reported by a 2014 study, nearly 80% of SMEs report being unable to meet hiring demands. In addition, 28% of employers claim that they rarely hire because most employees are not trained in the skills required to do their jobs. As such, they have a growing reliance on freelancers and temporary workers to fill in the gaps of their workforce.
Many local small businesses would consider hiring someone flexibly to fill an open position rather than a full-time employee. However, to do so would require a staffing partner who will go beyond the basics. This is where flexible staffing solutions come into play.
Employers are increasingly seeking flexible staffing solutions to manage fluctuating employee demands that impact business operations. By providing highly qualified temporary and permanent workers to cover production, catering, and other support activities, employers can respond to seasonal shifts and increase efficiency to deliver products and services promptly. Hiring the right staffing platform can have the following benefits when viewed in detail.
When searching for the right staffing partners, a business’s management team must ensure that selected platforms offer a transparent process. This means that not only are business owners going to see the cost of work upfront, they can also see who will perform that work.
In addition, the right platform will provide employers visibility into how many hours each employee works and how they’re being compensated. This kind of monitoring ensures that businesses have the necessary tools to know which employees are effective and which ones are underperforming.
As the business cycle ebbs and flows, so too do employment demands. Companies that offer the ability to staff up and down can do so more easily. Similarly, businesses that provide the option to be staffed on a part-time basis can avoid costs associated with paying the same salaries to full-time employees.
Staffing a business full-time is generally more expensive than staffing on a part-time basis. While some flexibility is provided to employers by allowing employees to work a certain number of days in a week, companies can still be more selective and require part-time workers to only work a certain number of hours per day.
One of the biggest costs related to staffing is recruitment. A business must provide training to new staff members to ensure they’re up to the task of handling the job. This process can be highly efficient, expensive and time-consuming, considering that the business can channel a significant amount of its resources into meeting the needs of clients and stakeholders and providing its team with better wages and opportunities.
In such a scenario, flexible staffing platforms offer a more affordable alternative that is more in line with the business’s budget. This is especially true when hiring a large number of short-term employees. When a company doesn’t want to commit to long-term hiring arrangements, flexible staffing is an efficient way to scale up and down quickly.
In light of the rapid advancements in technology, which affects global business, employers need to consider a flexible workforce. In many instances, temporary and part-time workers have proven to be just as efficient as permanent employees or have higher performance ratings. It implies that they can help employers scale operations, manage workloads, and enhance productivity to meet ever-changing business demands and company size.
By leveraging the power of a skilled and qualified workforce, businesses can increase profits. For instance, gift companies can use temporary employees to manage their holiday seasons, when they experience heavy seasonal demand.
When trying to fill an open position, companies often rely on the traditional workforce and job boards and referral networks to find recruits. These channels are expensive, resulting in high turnover rates and lower productivity. Businesses may experience difficulty tracking these channels to ensure that the right talent is being hired.
A strong and effective recruitment process depends on many factors, including the quality of candidates and the cost of hiring. With the right staffing solution, a company has access to highly skilled candidates flexible enough to meet specific job demands.
Upshift understands the industry dynamics and has delivered one-stop staffing services to businesses. The platform has a team of account managers, and customer support representatives to deliver the local business community’s staffing needs. It ensures that only the best candidates are placed in short- and long-term roles complementary to skillset and experience.
Business owners save up to 50% in fees using Upshift’s proprietary recruitment technology, unlike the traditional agencies. Employers are assured of Upshift complying with all legal, employment, and other mandates related to payroll and tax administration.
The use of flexible staffing is on the rise, especially in the current competitive labor market. What’s more? The recruitment model allows for a more cost-effective workforce. Aside from that, it encapsulates a good hiring policy that attracts top talent and produces exceptional business results.