Realizing Cost Savings Through Temp/Contract Hiring
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Businesses across the globe are moving towards a flexible employment strategy in an effort to cut back on operating costs. What’s propelling this workforce shift? The gig economy. Workers in general are demanding more flexibility and balance in the workplace, catering to a more contract-type worker.
According to a global survey conducted by Vodafone, 75% of organizations from around the world have already implemented flexible employment strategies. This results in an 83% improvement in productivity and boosted company profits by 61%.
So what exactly are contractors anyway? Well, contractors work on a project for a predetermined period and not as regular employees. They often partner with an organization for a short duration or work on a part-time basis for multiple companies simultaneously. A contract can span a few weeks, months or even just a few days, until a project is completed.
Hire professionals and get great work done in less time.
But what does contracting mean for your business? It means saving money! Some professionals are skilled at producing high quality, valuable work in a short period. And in business, there is nothing more efficient than getting the best work done in the shortest amount of time. That alone is a significant cost saver.
Cut down operating costs and only pay for what you get.
Contractors are only paid for the work that they do. Paying your contractor often excludes coverage for time off or sick leave and there are no pension plan or healthcare package expenditures. Partnering with a reputable staffing firm that has the best network connections can save costs further, eliminating your need to devote time and money to the hiring process and ensure you’re presented with qualified professional contractors who possess relevant experience in your industry.
Never hired a contractor? Give contract hiring a try. Employ contractors today if it’s the right fit for your business needs.