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For many businesses, personnel expenses are the biggest line item in their P&L. It takes substantial time, money, and resources to effectively source, screen, interview, hire, onboard, train, and replace employees -- and keep everyone working at peak efficiency.
Today's workplace realities make it even more important to make good staffing decisions. The ongoing pandemic, the challenges of hybrid and remote work, and the need to offer flexibility and support to core employees create opportunities for your staffing partner to provide timely solutions.
To take full advantage of the value staffing can offer, make your approach more strategic.
Strategic staffing is the planned management of your staffing function to achieve corporate objectives. It's planning for your needs, developing a game plan to satisfy those needs, and then executing the game plan to maximize your profitability.
Start strong! Identify areas where strategic staffing can reduce costs, improve efficiency, and mitigate risk, and then use these practical tips to improve profitability and performance:
Reduce overtime expenses
Whether you're experiencing a surge in business or are struggling to hire direct employees, use temporary employees to get work done instead of paying overtime. You won't pay benefits, overtime rates, or payroll administration for hours worked. Hiring contingent staff can also help prevent direct employee burnout from working overtime during an already stressful period of uncertainty.
Convert fixed expenses to variable
Has your business had unpredictable increases and decreases in demand this past year? Planned staffing can help you convert fixed expenses to variable. Minimize your direct staff to the level needed to sustain core business, and then bring in additional help only when it's needed.
Access professional expertise on an as-needed basis
Today's temporary workforce has evolved -- are you taking full advantage of the talent available to you? Your staffing partner can connect you to a broad range of people looking for flexible work:
- Highly skilled and top-performing workers who were laid off due to the economy
- Experienced individuals who have re-evaluated their goals because of the pandemic -- and want to become part of the gig economy
- Retired executives seeking part-time employment
- Former stay-at-home parents reentering the workforce
- Recent college graduates looking to gain skills and experience
- People seeking to make a career transition
- Contract professionals with specialized skills
These "super temps" can deliver the experience and skills you need to tackle mission-critical initiatives, train core staff, capture additional business, and test new business concepts without impacting fixed expenses.
Eliminate operating inefficiencies
Are your workers stressed because they are covering other roles? Inefficient functions can be outsourced to services that can perform the work more effectively. The outsourcing service should reduce expenses and improve performance while allowing your company to focus on its core competencies.
Cost-effectively staff discrete projects
In today's rapidly changing environment, contract staff allow you to access the talented experts your business needs but pay for their expertise only as long as you need it.
By using contract professionals for discrete projects (like testing fresh ideas or launching campaigns to bring in new business), you can eliminate the cost of acquiring permanent staff and reduce strain on your direct employees.
Lower your cost-per-hire
Staffing and recruiting firms are hiring experts. They leverage technology, economies of scale, vast talent networks, and knowledge of the pandemic job market to provide faster, more cost-effective alternatives to recruiting and hiring on your own. Staffing companies can shorten your time-to-hire, minimize the disruption to your business, and ultimately lower your average cost-per-hire.
Reduce turnover and make better hires
Some job functions have inherently high turnover rates, which can carry a high cost for your organization. Using temporary employees in high turnover positions can alleviate the stress and expense of constantly finding replacements. In addition, temp-to-hire services allow you to see how a potential employee performs on the job before making an offer, dramatically reducing the expense of a bad hire.
Need skilled candidates? Give your staffing company a call, and we'll deliver candidates who fit, stay and perform.
Minimize risk
Since the staffing firm is the temporaries' employer of record, all unemployment claims impact the staffing firm's rating -- not yours. Staffing services can also protect you from potentially time-consuming and expensive lawsuits by ensuring that non-discriminatory hiring practices are followed. Furthermore, staffing firms assume the financial and legal obligations for payroll, statutory taxes, and government reporting.
Is your strategic staffing plan evolving with the work world?
No one can predict the future, but your staffing partner can help you create a plan to improve your bottom line while keeping your staff happy, healthy, and productive! |
