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“Work Force flexibility: Staffing for a Better Bottom Line”
Last Modified: 2017-10-17 12:44:45
ASA – StaffingSmarts Intelligence Report
The Staffing Resource Center for HR Professionals
I came across an article entitled ‚ÄúStaffing for a Better Bottom Line‚ÄĚ that I believe is of particular interest to Employers and HR Managers in Barbados.¬† This is very relevant in the present economy when companies are trying to find innovative ways of reducing cost.¬† Below is a copy of the extracts I have taken from this article and a link to the original document and website. ¬†¬†
Work Force Flexibility: Staffing for a Better Bottom Line
The article states that in the USA, the staffing industry has been growing faster than the overall economy. HR professionals, and others who make organizational staffing decisions, are benefiting from the flexibility provided by staffing firms. This flexibility manifests itself in many ways.
For routine needs, staffing firms can deliver workers for daily, seasonal, or cyclical assignments in a timely manner. This approach to staffing is inherently more efficient than the traditional approach of advertising a position, wading through stacks of r√©sum√©s, running background checks (if necessary), and then having to wait for new hires to start.
Not only can staffing firms help HR professionals fill positions with qualified candidates fast, HR professionals don’t have to worry about the cumbersome process of setting up payroll and benefits for new workers and assignments can be terminated at any time.
Looking at Staffing Strategically
The staffing industry’s unique access to a wide range of workers is one of the essential benefits it offers clients. By working with staffing firms, HR professionals can quickly find individuals with specific skill sets or hard-to-find work experience. Those individuals can be brought on board for a brief period or they can be hired permanently.
This flexibility enables HR to serve an organization in a strategic manner. HR can respond quickly to changing business needs without burdening a company with excessive head count or unnecessary legal exposure. This type of staffing agility is used as a competitive advantage by smart companies.
A recent report from the U.S. Department of Labor supports this notion. The report found “employers that have flexibility in adjusting labour requirements to meet product and service demands have a competitive edge over those with less flexible human resources policies.”
Finding the Right People for the Right Jobs
In many ways, the growth of the staffing industry reflects the evolving US economy. The demand for specialization is growing in companies large and small. Staffing assignments reflect this, with a marked shift toward occupations that require higher levels of skills and training, according to the results of several surveys conducted by the US Bureau of Labor Statistics. Businesses tap staffing companies for quality talent in nearly every occupational sector, from skilled tradesmen to airplane pilots to banquet waiters to attorneys to radiology technicians.
Increasingly, matching employees to jobs are made on a temporary-to-hire or temporary-to-permanent basis. This is another important aspect of the flexibility provided by staffing firms. Companies and workers have the opportunity to evaluate each other with no obligation for either party. If both the employer and the worker agree that it is a good fit, the worker can be hired permanently. The traditional hiring process does not provide for such flexibility and can result in poor hiring decisions that are costly and difficult for a company to undo.
A New Reality
Global competition is affecting nearly every industry. Financial markets are prone to enormous swings. Consumer demographics and psychographics are changing continuously. The truth is that it’s harder than ever for companies to forecast their staffing needs. The cost of overstaffing can be diminished profitability and viability for a company. The cost of understaffing can be missed business opportunities that may never present themselves again.
The result of this new reality is that the job security and career continuity that previous generations experienced no longer exist for many Americans. An army of contract workers has emerged in the US, reflecting fundamental changes not only in the economy, but also in corporate management practices and in attitudes about employment. Given these factors, it should be no surprise that spending on temporary and contract labour now exceeds $70 billion annually.
THE BUSINESS AND EMPLOYMENT CENTRE is a supplier of these same services here in Barbados.¬† If you have any questions, please contact Catherine Impey, or Jeneifer Price on Tel: 436-7243 or Email: email@example.com
¬†Flexibility:¬† Businesses need it – Staffing firms provide it.