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Managing Company Initiatives in The Great Recession: Examining Benefits of Flexible Staffing Models
The Great Recession, or as it is named, has come a long way since the financial sector began to collapse on its rotten foundation back in 2008. Through the implementation of various and sometimes large stimulus measures in federal government, some corporations facing an unstable and uncertain future were able to survive and in some cases even thrive. Other companies, some of which have enjoyed great success for decades or longer, did not survive the storm and have since been forced to close their doors. Needless to say, the business environment has not been easy in the last few years, and for many companies, large and small, it has been and continues to be a long climb. As businesses struggle to survive, grow, expand, and stay relevant in these times of economic uncertainty many are facing a daunting challenge: How Do We Continue to Implement Our Initiatives and -advanced In These Times Of Economic Uncertainty And Uncertainty?
This question that has been raised does not come with an easily defined answer, however there are some current trends in the business environment that will definitely help in the effort that businesses around the world face and are likely to continue to face in some time to the future. One thing is certain and that is that smart businesses that are determined to come out of this recession on top must make good and tactical investments in their businesses to avoid stagnation. In today’s business world, many companies are afraid to bring in an optimal level of human resources for fear of economic duplication. However, in today’s dynamic world businesses can no longer wait for better times to stimulate innovation, but it must be a continuous cycle that pushes the company forward. To weather the storm, a growing trend for sophisticated businesses emerged and became the solution. A flexible staffing model, which can provide the resources needed to tackle initiatives on a temporary, as-needed, or just-in-time basis, enables businesses to continue to weather the storm, maintain to staff flexibility and operate under a stable and agile structure, when hiring new FTEs is too risky to be a viable option. Below we examine some of the main reasons to consider the benefits of pursuing a flexible staffing model in the development of your company’s staffing initiatives.
1. Leave it to the Experts:
Let’s face it; Finding top talent is probably not in your core skills, nor is it a skill of most employers. Any hiring manager tasked with bringing in new talent knows it can often be a daunting task. Challenging, frustrating, and extremely time-consuming, the interview process can take several full-time weeks or sometimes longer, until the right fit for your project is found. In most cases, your time is better spent focusing on the core responsibilities that your career entails. If you’re doing the recruitment process yourself, your ‘real job’ can start to pile up as you interview one unsuitable candidate after another; watching the hours tick by as another candidate is escorted out of the building and another resume is reviewed for consideration.
Outsourcing this function and leaving it to the experts will not only give you a lot of time back, but more importantly, you will likely have better results. Companies that offer flexible staffing and augmentation services specialize in this function, have developed advanced recruiting and screening methodologies, and have access to top talent and consultants with real subject matter expertise. Why not consider letting them do the work for you, or at least help narrow down the process so you can focus on what your real core responsibilities are?
2. Seamless Transition:
One of the key benefits offered by using flexible staffing and augmentation services is their ability to provide a seamless transition of talent to a project. Companies that offer these services typically provide trained subject matter experts with advanced performance who have previously worked on similar projects, with the ability to quickly dive in and start leading teams, programs, or initiatives for business. Training cost savings alone at this point is a big factor to consider when evaluating all options for leading initiatives in the Great Recession, and should help position the company for the exit. from the recession above.
3. Flexible Staffing Model: The Big Risk of Going FTE
Even today many corporations, which instituted mass layoff measures after the onset of the Great Recession, continue to operate well below pre-recession (suboptimal) staffing levels. Unfortunately this is now starting to cause increasing levels of stagnation in companies in many industries. Many businesses that have been forced to embark on sweeping downsizing measures now lack the staff to complete the new projects that will take them forward. Augmenting their staff with creative and flexible models can serve as a solution to provide the capabilities needed to complete programs and initiatives, while remaining flexible as needs change and as tasks are completed. project.
The fear of a double dipping recession has managers afraid to bring on new full timers, and for good reason. If mass layoffs are forced again, companies will be forced to pay a heavy price. For one, it can cause a monetary hit in several ways. Companies often have to pay severance packages which can be expensive and lead to bad press for layoffs. This can cause a domino effect of inciting fear among shareholders, lowering the stock price and ultimately, as a result, the value of the company.
These models provide flexibility and often enable employers to contract consultants and subject matter experts who augment staff for a time limited by the duration of projects or initiatives by completing, eliminating to maximize efficiency, operate with flexibility and greatly limit risk. .
4. Cost Effectiveness.
Perhaps the most recognizable of its benefits, the cost-effectiveness of flexible staffing solutions should not be overlooked. By adopting an augmentation model and ceasing to hire FTE’s, the employer will not pay benefits or any other carrying costs associated with hiring full-timers. In addition, a company that adopts this model can save a lot of time and money delivered by subject matter experts while avoiding the training, search and recruitment costs that are often present when employers hire directly and inside.
5. Conversion Options:
A final benefit of using a flexible staffing solution to weather the economic storm is that many companies that offer these services will also offer the option of converting a consultant or subject matter expert to a Full Time Employee for a fee. Therefore, using this model can be a smart, safe, and cost-effective way to test an employee before you buy them, delivering the necessary project skills, in a timely manner.
As outlined in this article, adopting a staffing solution for your business has become a trend in times of economic uncertainty, and helps of agile businesses to weather the storm, enabling them to emerge from the recession above, leaving behind the precariousness of the past. competitors that have since lost their importance in this rapidly developing world.
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