Due to an evolution in the market and political policy changes, consultants and temporary employees are becoming a much larger part of our economy. This trend, known as ‘contingent labor,’ is now becoming commonplace. Small and large organizations alike are capitalizing on contingent labor benefits. Here’s what this growing and skilled workforce can offer your business.
- COST SAVINGS
No workday is 100% efficient. Whether you realize it or not, you are paying your employees for unproductive time. By using temps and consultants you can eliminate much of this idle expenditure. You hire contingent staffing or labor only when their skills are required. The result is you virtually eliminate downtime in their term at your company.And because contingent labor is not full-time employment, you can increase your bottom line by better managing employee benefits, vacation, holidays, sick leave and health insurance. The taxes normally levied on full time pay, such as social security and Medicare, are also nullified by hiring temporary labor.
- INCREASED EFFICIENCY
Organizations that successfully use contingent labor capitalize on many benefits during peak seasons. When a workload increase occurs, you can use temps to offset the task distribution. In doing so, managers avoid taking on more full-time workers when their services are only momentarily required. These workers will not drain capital when they are unneeded. When demand lowers or the peak season has ended, temporary workers can be phased out.
- ADMINISTRATIVE SAVINGS
Employee onboarding and offboarding requires a wide array of personnel and paperwork. Personnel and paperwork cost time and money. By utilizing contingent staffing support, administrators forgo the cost of applications, interviews, or tax preparations.Organizations like ECS exist to help alleviate this process. For example, by contracting labor through ECS, you are already guaranteed an individual who is available, trustworthy, and possesses the skill set that your position requires. All the paperwork, processing, and screening are done through ECS. The time and personnel involved in compliant onboarding and offboarding is outsourced to ECS, which has a longstanding relationship with companies and skilled staff of all shapes and sizes.
- BROADENING THE TALENT POOL
For many organizations, you are restricted to the talent available within the business network you have cultivated. With ECS’ nationwide network of recruiter partners, a host of workers whose skill sets were otherwise unavailable to you are now suddenly in reach. This benefit of contingent labor is particularly useful when it comes to completing specialized projects or meeting a looming deadline. By capitalizing on the ECS network, you can contract unique individuals whose skills and pay you may not be able to afford in the long term, but can profit from now.
Have questions? Contact us today! We are more than happy to discuss any questions you may have.