Every business has needs that exist beyond the scope of its own services and expertise. A technology startup is on the hook for an end-of-year audit. A bank needs to perform a review of its residential mortgage underwriting decisions.
Often, though, the talent that’s most qualified and best equipped to handle important projects and initiatives within an organization can only be found outside the organization. In these cases, a company may consider creating a new department and hiring a full-time team to staff it. But what if the project has a finite timeline or ongoing demands that don’t merit a permanent workforce and long-term commitment? A third-party vendor could do the trick, but a company cedes a certain amount of control in those situations – and the bill can get outrageously expensive.
But there is another option to consider: the benefits of contingent labor. Some organizations and hiring specialists may consider contract workers only for recurring, cyclical business demands, but that could be a missed opportunity. Contingent labor can be extremely useful and cost-effective for non-seasonal businesses and non-seasonal needs. Here’s how:
Consultants or Contractors?
In recent years, the line between consulting work and highly skilled contingent labor has been blurred – and that’s a credit to the volume and quality of contract workers now available to companies everywhere. But while a consultant may be the right fit in some instances, not every situation calls for an expensive C-suite-level retainer. Organizations frequently need specialized talent to fulfill short-term goals without busting payroll. That’s where contract workers can help.
In the realm of professional services, for example, the ideal hire may often be a candidate with McKinsey & Company-type expertise. But those workers tend to command a premium salary, and a certain percentage of them aren’t willing to accept anything other than full-time employment – which would put them out of reach for certain companies and/or positions. But an organization still has access to that caliber of talent – and at a far more affordable rate – through contract labor.
Flexibility and Filling the Gaps
In addition to helping non-seasonal businesses meet a necessary level of talent, contingent labor helps organizations optimize staffing logistics. Contract workers can be hired and onboarded quickly, allowing companies to nimbly scale their labor force to match fluctuating workflows. Rather than being tied to the overhead and long-term commitment of permanent employees, contingent laborers offer the flexibility to almost instantly and efficiently modulate a workforce to meet business needs as they arise.
Contractors also meet fractional needs – short shifts or work weeks or projects with brief, well-defined timelines. In any situation in which a resource is needed on a limited basis or for a finite period of time – especially when that resource is expensive, highly specialized expertise – contingent labor routinely offers the solution. Whether or not your business’ needs are seasonal, PeopleCaddie can connect you with the expert talent that best fits your role and time frame.