Budgeting for a Contingent Workforce in 2016

Preparing the budget for the coming year? With the staffing and benefits allotment consuming a large chunk of those projections, why not consider how a contingent workforce might improve both your bottom line and your business?

Let’s look at five advantages of hiring a contingent workforce you may not have considered:

Exactly the right talent, at the right time, for the right term:

Hiring experienced talent to fill a need for a critical project with a deadline is an excellent reason. Rather than hiring someone to fill the job, you are most likely to find the right match with a contingent worker and keep your workers focused on their responsibilities. This quality of talent is used to coming in to fill a demand, rapidly assessing what is required and performing at the highest level.

the core FTE (Full-Time Equivalent) employee retains job security. 

Always “on” mindset: 

A contingent worker must both prove his/her ability to do the job as well as to manage time proficiently. Contingent employees are familiar with juggling multiple tasks. They are savvy about how they perform because they would like to be considered whenever the need for contingent workers arises.

Flexibility and efficiency: 

Contingent employees can fill in gaps, provide seasonal or temporary project help, or relieve overburdened staff. Flexible with schedules, they can often be on task when a FTE employee is unavailable. They also assist with efficiency by performing mundane or standard responsibilities thereby freeing a FTE employee to focus on specific projects or deadlines.

Recruiting pool: 

Businesses who use contingent workers generally build relationships and may call upon the same workers whenever needs arise. The time a contingent employee is on the job permits an extended trial period or period of evaluation for the employer. Not only does the employer have adequate time to become familiar with the person and the strengths and weaknesses of his/her performance on the job, but also learns whether the individual would be receptive to being hired and would be a good fit. And since the individual has been doing the job, the learning curve would be small or nonexistent.

Cost savings: 

Perhaps the most notable advantage is that a contingent worker saves you money. Though the hourly rate may be more than a FTE counterpart may be, an employer does not have to pay Social Security taxes, unemployment compensation taxes, worker’s compensation coverage, or employee benefits for a contingent worker.

Statistical reports show that the contingent workforce is growing worldwide. As more and more people begin to build home-based businesses, create part-time careers, or choose to enjoy a versatile work model, thisworkforce will continue to expand.

Nissen Staffing Continuum can assist you with planning for contingent needs. 

We would like to learn more about your staffing needs and answer your questions about our contingent pool of talent.

At Nissen Staffing Continuum, our focus is on you and your success. We work as your strategic partner by adding value, helping you avoid obstacles and reach your objectives. Contact us today and discover how we can assist you with your hiring process.

 

 

 

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