15 Jun Key Benefits and The Future of Contract Staffing
Contract staffing has been around for a long time in all different sectors. This model was mainly used in agriculture & construction fields. It is estimated that Indian staffing industry was worth INR 270 billion in the year of 2015. As it is growing by the rate of 12% per year. The concept of contract staffing has gone up considerably in the Indian recruitment & this trend is expected to rise in upcoming years. Contracting staffing is an excellent job.
Key benefits of contract staffing –
1.Gives access to a wider talent & resource pool.
2.Accommodating in getting a refund in regular overheads.
3.There will be no liabilities associated with permanent employment.
4.Organizations can focus on core competencies.
5.Accelerates the entire recruitment process
Benefits of contract staffing –
- Part time contract
- Fixed time contract
- Agency staff
- Consultation on freelancing
- Zero hour contract
- Voluntary employment
Contractual employment allows many benefits to businesses. It reduces the obligations of employers such as gratuity benefits. It saves the company litigation costs, should there be a future dispute. Government of India & IT are leading employees of contracts employed by the retail sector.
● Indian staffing industry is expected to grow almost 20% by the year of 2020
● Liberalization of several labor laws has helped & boost the temporary workforce numbers
● Challenges faced by staffing companies are limited but the expanding possibilities of indian staffing companies.
● Best time for companies to streamline their processes & improve their capabilities & new growth trends.
Contract staffing has long been a solution for employers to meet short-term staffing needs. Temporary employees are no longer being lower level non-essential & less committed workers. In 2008 introduced many companies to the value of having contractors as a significant portion of their workforce. Contracting staff remains as a viable , growing workforce solution. Contract staffing is becoming such an integral part of the workforce that the staffing industry predicts 50 percent of workers will be hired by 2020. Contract employees can often provide fresh ideas & innovative solutions. It allows employers & flexibility to acquire proficiency needed for the precise time frame of a particular job & save money resources.