The global economy today is volatile and times are uncertain. First the pandemic, now the Russia-Ukraine war, and no idea what next.
The world continues to be hit by shocks of trade-wars, global supply-chain disruptions and rising energy prices, and as a consequence the elevated inflation is said to persist through 2022. As if these were not enough, there is a hint that we will be entering a new age of de-globalisation that may not have favourable results for the economy.
As a consequence of these disruptions, the workplace has been unsettled, prompting business leaders to work out strategies to strengthen their businesses. A key learning has been that alternative hiring to manage the workforce optimally is crucial, something that is achieved by balancing permanent hires with temporary staff.
Flexible staffing involves employing contingent workers (including contractors, freelancers, agency-provided workers or gig workers who are not on a company’s payroll) instead of permanent employees to meet business and operational challenges as they unfold.
Many companies worldwide, including India have already adopted flexible staffing solutions in response to the changing world economy. As of March 2019, India’s organised sector had 1.3 million contingent workers, and by 2025 they are predicted to make up about 10 per cent of the overall workforce.
Indian Staffing Federation (ISF) reported that in 2016, India contributed to 4.8 per cent of the global flexible market of $59 billion then. Although the share appears teensy, there is scope to improve as the staffing industry in India is evolving.
Check below ISF’s record on India’s IT flex-staffing usage:
Percentage (%) of organisations
Testing and QA
Encouraging figures that are said to improve.
These apart, flexible staffing also offers a means to quickly replace unsuccessful workers and staff on leave.
To get the best out of the flexible staff pool, collaborate with an experienced staffing agency that also offers in-depth market insights.
Partnering with staffing agencies to take care of your hiring requirements is a wise business decision. These agencies have evolved over time to meet modern business needs and offer holistic talent solutions and critical capabilities.
Careernet, India’s leading talent solution provider, boasts of a rich clientele consisting of startups as well as Fortune 500 companies that have all immensely benefited from the various solutions it offers. Its professional staffing solutions takes care of these: sourcing talent, onboarding, workforce, HR operations, payroll process and compliance management; vendor development; real estate management, workstations and assets, IT infrastructure solutions, and on-demand interviewing and assessment services.
With a dynamic and people-centric workplace, coupled with today’s selective workers, it is no surprise that alternative staffing has witnessed phenomenal growth. Half a century ago, this would have been a tale worthy of a fictional novel, but, today, we are living this reality.
A company’s vision is only matched by its flexibility in acheiving it.
Flexibility is a win-win, don’t you agree?
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