In recent months, there has been a noticeable shift across the hiring landscape. The latest KPMG and REC UK report on jobs revealed an accelerated decrease in permanent hiring across the UK. However, this isn’t necessarily a bad thing.
While one type of hiring dips, another rises: there has been a significant increase in temporary hiring, signifying an inflection point in the evolution of hiring strategies.
The pandemic has completely reshaped business strategies, particularly in terms of recruitment. Companies worldwide have been compelled to explore alternative models, with a significant emphasis on short-term hiring. This cautious yet strategic shift could be a proactive measure to prevent another round of large-scale future layoffs.
Recently, we’ve seen companies experience exponential growth only to face rapid declines, where over-hiring subsequently becomes a major problem. By embracing temporary hiring, firms not only avoid a repeat of history, but can also actively adapt to the rapid changes taking place across the recruitment landscape.
So what are the benefits of short-term hiring within businesses? Here are the 5 most prominent advantages:
- Flexibility and adaptability – Temporary staffing allows companies to dynamically adjust their workforce in line with changing business demands and project requirements. This agility is crucial in the current fast-paced business environment, enabling organisations to respond swiftly to market trends and operational needs.
- Cost-effectiveness – During continuous economic unpredictability, the cost implications of permanent staffing are a significant concern for many businesses. Temporary hiring presents a more financially viable option, as it involves paying for labour based on hours put in or projects carried out, avoiding the long-term financial commitments associated with permanent staff.
- Diverse talent pool – The gig economy has invited a new wave of skilled professionals who prefer the flexibility of short-term roles. This shift allows businesses to tap into a rich reservoir of diverse skills and expertise, particularly beneficial for innovative and specialised projects, eliminating the time and additional costs of training new employees.
- Skill acquisition – The ability to quickly onboard individuals with the precise skills and experience needed for specific projects is a standout benefit of temporary hiring. This approach not only reduces the time and resources typically required for skill development but also plays a crucial role in closing the skills gap within companies. When businesses identify a particular need or skill deficiency, temporary hiring allows them to promptly bring in specialists to fill these gaps, ensuring that projects progress efficiently and effectively with the right talent in place.
- Reduced commitment risk – In an uncertain economic climate, the flexibility to scale the workforce as per the current market and project demands is invaluable. Temporary hiring reduces the risks associated with long-term employment commitments, allowing businesses to adapt their workforce size in response to changing market conditions.
- The future of short-term hiring – Embracing temporary hiring and leveraging technology to connect with global freelancers and contractors therefore becomes essential. Platforms like RAMP.Global play a pivotal role in this transformation, simplifying the management of short-term hiring processes. This adaptability not only ensures business continuity but also fosters an environment of continuous learning and skill enhancement.
As we approach a new year, our outlook for the recruitment landscape is not just hopeful, but confident in its potential for transformative growth and unparalleled adaptability.
