When hiring new employees, it can be hard to determine whether you’re best to go all in and invest in a long-term solution, i.e., a permanent employee or appoint a temp or contractor to address your immediate needs.
The following factors will influence your decision-making:
Your stage of business
Your budget
The role you wish to cover/fill
The outcome you seek to achieve
Whilst temporary employees and contractors provide a quick solution in the short term – especially valuable if your needs are urgent – permanent roles help to establish a reputable market-facing brand and a foundation from which your business can thrive.
There’s no right or wrong answer, but to help you answer the question, which contract should you offer? We have shed some light on the benefits of all three options to help you decide which will best fit your organisation's needs at hiring time.
The Benefits of a Permanent Workforce
Robust Relationships for a Thriving Business
Permanent employees are crucial to building and maintaining a solid company culture. They bring stability to the team, which allows deeper connections and relationships to develop. Additionally, as they become more invested in the company's success, they are more likely to contribute ideas, solutions, and innovations that drive the business forward.
Bonded by a shared purpose, they enjoy a sense of unity critical to building a thriving and sustainable business in today’s competitive market.
Managing Transformation Business Change
If your business is implementing new systems, restructuring, mergers and acquisitions, downsizing or growth, then a temp and contract workforce is ideal. The additional support provided by those working on a temporary basis can be very helpful in elevating efficiency.
A Means to Build a Reliable and Consistent Brand
Permanent staff members provide consistency and stability to your business. This helps you build your brand and establish a consistent and reliable presence in the market.
They are committed to the long-term goals of your company, which fosters a culture of dedication and loyalty, resulting in increased productivity and a more harmonious work environment.
A Good Investment with a Great Return
Investing in permanent roles can result in a better return for your business, despite the higher upfront cost. This is especially true if you provide upskilling and career development opportunities.
By providing growth opportunities, your employees better understand your operational goals and will enjoy greater job satisfaction. A content workforce results in lower staff turnover, which saves you the cost of replacing them.
The Benefits of Utilising a Temporary or Contract Workforce
A Trusted Workforce
Generally speaking, you will fill temporary roles with the support of an agency. Likewise, contract roles. This talent is sourced from a vast pool of pre-screened candidates.
With a proven track record, this experienced workforce provides a credible solution that meets your requirements.
A Budget-Friendly Solution
Employing temp and contract staff is often a more economical solution compared to hiring permanent staff when recruiting for short-term projects.
Again, by leaning on an agency for support, you can save on marketing and advertising the vacancy and the financial commitments associated with a permanent appointment.
Express Employment Process
Contractors and temps offer a quick solution to your skills shortage and are usually ready to hit the ground running.
Their employment is often simplified by removing the need for extensive training or onboarding, saving you and your team time and money.
Agility, Adaptability and Flexibility
Temporary staff members provide the flexibility to adapt your workforce to your ever-changing business requirements. Additionally, it allows you to avoid making long-term staffing commitments until you're ready to. This is especially important during uncertain economic times when there is less clarity about future business prospects.
Employing contractors equips you with the capability to respond to market changes and business trends, with the added advantage of testing these changes for longevity before committing to or creating a permanent role to service them.
Enhance Your Recruitment Strategy in the Long-Term
Creating temporary roles allows you to evaluate your staffing needs before committing to a permanent hire.
This can be especially useful when you're uncertain of the exact requirements of the role or when you're looking for the right candidate for a long-term appointment.
Access to New Skill Sets
Hiring temporary staff or contractors with specialised skills or expertise empowers your business to address specific needs with immediate solutions.
Additionally, these skills can provide your project and company with the talent it needs to excel.
A Burst of Energy and Innovation
Contractors and temporary employees can bring new perspectives and energy to your business, which can be invaluable. This new life can foster innovation, improve productivity, and enhance your team's performance overall.
Additional Benefits of Employing Contractors
Greater Efficiency
These days it’s not uncommon for those working in contract roles to work remotely. Their sole responsibility whilst working for your company is to complete the project by the agreed deadline. Because they're not tasked with other duties, you can rely on them to deliver on time.
Comfortable Freedom
With a contractor on the payroll, you’re not tied to notice periods, nor will you incur any costs when terminating their employment. So, if your business experiences sudden changes or losses, you can end their appointment on the spot.
Many Sizes, Many Solutions
There’s no one-size-fits-all solution when deciding which contract to offer to whom. What’s more, what suits your business in one instance, may change on a dime in the next. By carefully weighing up your options and assessing your needs and objectives, you will be equipped to make the right call.
We know that success begins with the best people, no matter what! We are a Newcastle Recruitment Agency operating at the top of our game! Our team of recruitment specialists provide temporary, contract and permanent recruitment solutions to our clients with unparalleled success! When you work with us, you work with a Newcastle Recruitment Agency focussed on your needs, so contact our team today.