Hiring continues to remain a huge challenge for the Indian labour market. While the current economic scenario seems to grow with some much pace, nonetheless the number of graduates outnumbering the many available jobs continues to grow. On the other hand, companies looking to hire the right candidate, often finds it difficult to tap the best possible talent, owing to some reasons.
Another challenge that the Indian recruitment industry faces is to aptly define the size of the workforce as projects often tend to fluctuate. Therefore, keeping this kind of events in mind, companies have begun resorting to temporary or contract hiring via staffing solutions providers.
Of late, the concept of staffing solutions has shot up in India like never before, and several companies are leveraging the power of the same. Companies are either choosing to hire via various staffing solutions or going for a contractual hire. This step is justified keeping in mind that several companies are operating on a shoe-string budget these days.
It goes without saying that contractual hiring has ample benefits, which is why employers choose to opt for the same. Some of the benefits of contractual hiring are explained in the subsequent paragraphs. Let’s take a look:
#1. Reduced hiring risks
One of the biggest benefits of contractual staffing is reduced hiring risks. Budgets are somewhat tight, and organisations need to carry out more work with less money at their disposal. It is important that employees are productive and reliable. So, it’s advisable that companies do opt for contractual hiring and view them as extensive interview opportunities, after which you may extend a full-time employment opportunity to the candidate.
#2. Increased flexibility
The next big advantage of contract staffing is the notion of greater flexibility that companies reap. Contractual Staffing allows the organisation, the proficiency needed for the precise time-frame of a particular job and, save money and workforce sources. Contractual Staffing also makes sense to employ individuals with specialised skills on a project basis.
#3. Access to highly-skilled workers with comprehensive experience
Opting for contractual hire via staffing solutions or any other, it allows employers a substantial access to highly-skilled workers who have good experience in particular domains. Researchers from Bureau of Labour Statistics have revealed that contractual hires are more qualified than others and are more exposed to a diverse range of technologies and business settings. Contractual employees often come up with excellent ideas that can be further implemented to augment the business.
#4. Hire top quality employees
Another major benefit of opting for contractual staffing solutions is acquiring good quality employees for your organization. Most companies should capitalise their expertise in finding the perfect candidate. Their dedicated sourcing and screening enable them to tap the finest job candidate. Since most staffing solutions companies offer temporary contract, temp-to-perm and permanent placement services, you can rely on their assistance.
#5. Businesses opting for contract talent are more financially sound
Individual researches conducted by Lehigh University and the University of Oklahoma have proved that companies choosing to work with contractual talent turn out to be more financially sound than businesses who wants to opt otherwise. Enterprises that opt for recruitment staffing solutions tend to perform better economically. Reliance on both temporary and part-time labour turned out to be more beneficial and associated with superior financial performance. When a particular skill set is, or expertise is required, obtaining these functionalities through contract employment solutions is a much better option.
This can save companies valuable resources and time, and businesses can focus on activities like training and development of their employees and the overall growth.
#6. Speed up the hiring process
Resorting to staffing solutions companies for recruiting talent helps in improving the overall hiring process. Once organisations opt for HR outsourcing services, they can be assured of being free from cumbersome hiring procedures. Experienced staffing solutions companies have the resources, tools and connections to cater to clients’ needs.
From the above information, it can be concluded that, if companies opt for outsourcing staffing solutions, they can yield substantial benefits in the long term.
With the passage of time, the concept of contract staffing solutions is expanding in the country, and Indian corporates have not only realised this but are all set to leverage the power of the same.