The Canadian labour market is shifting and growing, with contract and temporary workers making up half the workforce today. In 2018, temporary workers increased by 50%, outpacing the number of permanent jobs in Canada. This is in part due to different professional outlooks of millennials and GenZs but also a result of a much more flexible world.
How can employers benefit from temporary hires? Contract employment essentially gives businesses the freedom to “hire on-demand”. The flexibility and scalability of contract staffing allows businesses to achieve their long-term and short-term growth targets, which makes this staffing solution ideal for challenging economic times.
Here are a few reasons why companies are making contract staffing an integral part of their hiring structure:
1. Cost Effectiveness And Lower Business Liability
Contract staffing eliminates payroll, benefits, and administrative expenses. When a company hires a full-time employee, it commits to providing salary, benefits and even accounts for all their expenses. However, with contract workers, you only pay for the hours the employee has worked with no commitment to benefit plans or bonuses.
2. No-risk Hiring Flexibility
More and more companies are turning to contract workforce solutions because it shrinks the hiring timeline. A flexible, contract-based workforce can easily meet dynamic business needs without long-term commitment. During crunch periods, employers can move full steam ahead for several months with complete operational support.
3. Immediate Results
Because of the varied experience that contractors gain through shorter term work commitments, their skillset is more diverse and often more easily adaptable. Companies benefit from hiring a fully vetted candidate, who is ready to hit the ground running from his/her first day. Contract staffing allows employers to combat any skills gap for specialized projects or to meet seasonal demand.
Don’t let hiring freezes, high employee turnover or complex hiring processes bring your organization to a crawl. Turn to contract workforce solutions and quickly acquire the skills and experience your company needs to meet the growing business challenges.