It’s no secret that the U.S. labor market is tight. The unemployment rate has fallen to historic lows. The average time to fill an open position is getting longer – up to 43 days by some counts. And the holiday hiring surge is about to hit. Finding the right people for your team is TOUGH!
Maybe it’s time to add temporary staffing to your employment strategy.
More companies using temporary staffing these days, with year-to-year staffing job growth averaging 3.3 percent per month according to a September 2018 report from the Bureau of Labor Statistics.
Is temp staffing right for your business? Here are five signs that you should use temp staffing as part of your HR strategy.
1. You’re having a hard time filling open jobs.
You wouldn’t be alone there. But business still needs to get done. Rather than taking weeks and months to fill an open position and stalling your productivity while you wait, a staffing company can provide qualified individuals – right now – to fill the gap until you find the right person.
2. Turnover is hitting your bottom line. Hard.
When you do hire, it’s painful and expensive if the candidate doesn’t work out. Likewise, as your current employees pursue new opportunities, retire, or simply leave the world of work, your bottom line can suffer. A staffing company is a reliable resource you can turn to for immediate back-fills of open jobs when turnover occurs, with people who are ready to step in and keep your business running.
3. Economic uncertainty has you worried about hiring.
With wages as the #1 cost for most companies, you’re smart to think long and hard before adding new people to the payroll, even when the economy is performing well. The 2008 recession reminded us what an uncertain world we live in. But you still need to grow. This is an ideal scenario for temp staffing. You get the benefit of employees who can do the job without the financial burden and employment risk of hiring – the staffing company bears that responsibility. And consider this: that temp employee could very well become a permanent member of your team when the timing is right.
4. Your company is expanding to new locations or markets.
If your expansion plans are at risk because you’re uncertain whether you can find the workforce you need in a new location, temp staffing is a great solution. Many staffing companies operate across regions and states and maintain a workforce that’s ready when and where you are. Plus, a staffing company that knows you can be a tremendous resource in helping you ramp-up in a new market.
5. Your business is seasonal.
Let’s face it: hiring and laying-off workers is expensive. If your business is seasonal or experiences unpredictable peaks and valleys, you should be using temp staffing. That way, you can flex-up your workforce when you need it most, and then draw it down when the pressure eases, without the expense and risk of traditional employment.
The staffing industry is growing for a reason: it’s smart business in today’s economy.