There’s no doubt that we are all in a much different reality to the start of 2020 when many businesses had indicated a growth trajectory and positive hiring intentions for the year – intentions that were abruptly derailed by the arrival of COVID-19 to Aotearoa.
Hiring intentions, on the whole, are currently neutral whilst organisations negotiate the new economic outlook of a recession over the next 12 months plus, and the restructures and redundancies that have already taken place seem set to be followed by a second wave later in the year.
Despite all the doom and gloom in the market, there are still solid construction and development projects on the horizon stemming from government spending and investment in infrastructure, and it’s likely that this activity will help drive new opportunities across many industries.
Nevertheless, organisations are likely to be wary about hiring staff permanently given the uncertain economic outlook and the fuzzy timelines for spending, so this is an ideal time to be talking about the benefits of a temporary staffing solution. If you’re considering engaging temporary staff for your business during this time, here are some of the key advantages to be aware of:
Buying in Skills
Typically, during a recession, employers may look to hire temporary workers to bridge unforeseen gaps created by redundancies and then begin to transition back to hiring full-time workers during recovery periods. So, a major benefit of temporary staffing is the ability to buy in skills, experience and capabilities that may be at more of a senior level than actually required, to create a punchy impact over a short period of time. Currently, the opportunity to engage with highly skilled and qualified talent to assist with your organisational requirements is much more available than it would be during a buoyant economy.
Cost-Effectiveness
The cost of hiring temporary staff is often cheaper than the cost of hiring permanent employees with full benefits. In the short term, it is generally more cost-efficient to hire a temp where the agency assumes the cost of the accruals for all applicable leave and levies, as well as payroll processing costs. The temp is often able to start sooner, which limits downtime before projects commence and fast-tracks training and induction.
Scalability
Temporary staffing offers organisations more flexibility and scalability in an uncertain economy. Being able to engage with more staff or reduce the workforce to respond to the peaks and troughs of production is highly desirable. Organisations can easily adjust to changes in workflow and the economy, without having to commit to extended costs or contemplate further permanent workforce resizing.
Culture and Positivity
It’s been a stressful and emotional time for individuals and organisations coming out of lockdown and through potential widescale restructures, and there may be some lingering impacts on attitude and mental fortitude for employees who have been through these situations. The ability to engage with temporary staff that would not have been impacted by internal shake-ups and thus have been spared the ‘change fatigue’ that sometimes results from this, can be a great benefit to the organisation and teams in bringing in fresh, positive thinking and mindsets.
Summary
Even during uncertain times, organisations are still expecting to deliver outcomes and deliverables or projects that may require supplementation of their permanent workforce with temporary staffing. Partnering with a Temporary Staffing Agency that understands your business and can act as an extension of your organisation can offer a number of benefits that will have an immediate impact.
If you want to explore how Beyond Recruitment can source great temporary staff for a positive impact on your business, contact me today – I’d love to assist with your temporary recruitment needs.
