The cost to employ someone has got more expensive.
Recent increases in the living and minimum wage, plus changes to statutory sick pay and other compliance costs are putting extra financial pressure on employers.
Traditional approaches of a fixed permanent workforce may strain your cash flow and limit your flexibility – especially if you have fluctuating workloads or a growing businesses.
1. Manage your cash flow more efficiently and reduce financial strain by only paying for extra staff when they’re needed
2. Lower your fixed costs by scaling your workforce up and down as needed to meet your operational demand
3. Scale your teams quickly – temporary staff can be available as soon as the very next day to help meet demand, cover absences or aid with short-term projects
But you don’t have to pause permanent hiring completely…because temp to permanent hiring gives you the opportunity to assess your new hire over a probation period and make the decision to offer a permanent contract when the time is right for you.
However, when looking for a labour provider.
With rising costs you may be tempted to partner with an agency who provides the lowest quote, but partnering purely on price can bring risks – poorly vetted staff can reduce productivity and disturb workforces.
Consequences can include:
- Poorer levels of service
- A lower quality and calibre of candidate
- A lack of extra support
- Poorer levels of communication
- A lack of a good working relationship
- A lack of aftercare
- Hidden costs or additional fees
- Missed deadlines with your end user as a result of a poor service
- Company reputation may be affected in association with the poor service supplied
- Higher long term costs
Don’t let the lowest quote today cost you more tomorrow – in money and headaches!
Rising employment costs are unavoidable, but businesses who leverage flexible staffing with strategic hiring can protect cash flow, maintain productivity and stay agile.
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