Employers are feeling the impact of economic uncertainty. Inflation has led to rising prices, while wage inflation has increased personnel costs. Additionally, with a potential recession on the horizon, companies don’t know what the future may hold, making it difficult for them to make operational choices and predict their budgetary needs or constraints.
Often, economic uncertainty also leads to questions about what type of hiring is wise. Permanent hires represent a long-term commitment, and it’s normal for companies to be wary of that when the future is unclear. Plus, permanent hires come with costs far beyond salaries, and those may be hard to shoulder as economic conditions shift.
Fortunately, employers have an option to reduce their hiring woes. By partnering with a staffing company, maintaining a capable workforce during uncertain times is easier.
Here’s a look at how a staffing company can benefit you.
Right-sizing your workforce during uncertain economic times is particularly challenging. Demand may ebb and flow more frequently or steeply, making it hard to anticipate how many employees you’ll require. The need to manage personnel costs is also greater, which can make scaling up your permanent team an intimidating prospect.
By partnering with a staffing company, you can right-size your workforce while maintaining flexibility. With temporary hires, you can scale up rapidly when demand rises, ensuring you can reach full productivity quickly. Plus, you can reduce your workforce just as fast, allowing you to scale back when demand falls, or productivity targets shift down.
The length of an employee’s assignment can vary. Whether you need extra hands for a day, a week, a month, or longer, that’s an option when you bring in workers through a staffing company. You can also access specialized skills specifically for the duration of projects, allowing you to pursue improvements that can help you weather economic uncertainty without having to worry about the cost of a permanent hire.
Multiple Hiring Solutions
While temporary hires are a clear benefit during uncertain times, staffing companies can provide other types of hiring arrangements. Temp-to-hire is excellent for when you need to fill a permanent position, but you need to ensure the best possible fit. The employee begins on the staffing company’s payroll, allowing you to conduct a working interview before extending a permanent job offer. As a result, you can ensure that the employee has the necessary skills and meshes with your environment, giving you additional peace of mind.
When you need hard-to-find skills fast and long-term, permanent placements are also an option. You’ll get support from professional recruiters, giving you access to more talent and expertise. As a result, finding a high-quality match is easier, and you can bring the candidate onto your payroll right away.
Contact the Advance Group
Ultimately, partnering with a staffing company makes navigating uncertain economic times far simpler, all while streamlining your hiring process. If you’re ready to see what a staffing company can do for your team, The Advance Group wants to hear from you. Contact us today.