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Employee Staffing And Your Business
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The ever changing nature of business models - especially in this day and age when collaboration across countries is possible – makes it no surprise that staffing these businesses have evolved along with them. Recent economic turns such as the recession have contributed to the emergence and continued growth of staffing options that are alternative to the conventional scheme.
Among the various employee set-ups that have gotten more traction lately, employee staffing also called employee leasing is perfect for most small and medium-sized companies. These firms typically cannot afford to have people dedicated solely to human resource or accounting functions full time.
However when leasing employees, these firms can easily relegate specific tasks to an employee under a company, external to their own firm – without having to deal with the hiring, training, and disciplining of the leased employee. In effect, companies can rent out the services provided by a professional for a specific period or project and handle the paperwork or provide equipment.
A Glance at the History of Employee Staffing
In the 1960s, businesses, notably those involving physicians worked out a way to ensure that a group of employees usually the officers had a larger pension program. This was how employee staffing initially was thought up. Companies would have a leasing firm set up, and move their existing employees to the new leasing firm where they continued their services, allowing the company to create different pension plans for the retained employees and the “leased” employees. Legislative action, however has been undertaken to address these loopholes and protect employee rights.
Today’s employee staffing and leasing companies follow different mechanics in getting their clients the professionals they need. Some have a roster of their own specialists such as programmers, developers, and accountants, and lease out their services. Others assist clients in finding and funneling candidates with the winning candidates landing the job and working at the staffing firm’s offices.
As an industry, employee staffing and leasing has continued to grow, partly because of recent economic events, as well as the trend of increasing fringe benefits. Most employees see the value in these benefits which may make up about 30% of their compensation, and more companies turn to employee staffing firms who can handle compensation and benefits.
Leasing Employees VS Outsourcing Operations
Outsourcing has been fairly popular across the globe, but not all firms can opt to move out whole operations to a third-party company located locally or otherwise. Most firms who do outsource aspects of their business are usually major businesses who can afford to set up headquarters in other locations. Smaller companies are better off trying other routes to cost reduction.
One such strategy is to lease professionals needed for certain positions, typically human resource and accounting. However, companies can also lease employees on an as-needed basis – for instance when they hire additional programmers from a staffing firm for projects that need more hands on deck. Employee staffing and leasing helps firms move out specific functions with the staffing firm handling the paperwork, and logistics needs, as well as doing away with the need for training.
Offshoring Your Employee Staffing
If cost reduction is the main objective – along with avoiding paperwork, companies can also opt for employee staffing and leasing firms that operate offshore. Rates can prove to be even more competitive compared to the company’s local prices.
Work quality is also not sacrificed since employee staffing firms have supervision in place and make it a point that clients coordinate well with the leased employee.
The possible difference in time zones can prove both a boon and a bane. Your leased employees can work during your off peak hours, ensuring that work is continuous, regardless of the time of their regular shift. This is especially a benefit for projects that are time-constrained. Administrative tasks can be carried out in the same fashion with leased employees keeping in touch regularly with meetings set up to discuss any concerns.
Whether you want to move out a large chunk of your business or just a certain task, it is wise to explore and weigh in on the pros and cons of each staffing option. With the right staffing and leasing firm, you get to optimize on your existing resources.
At Staffing and Leasing, we specialize in helping out small and medium-sized companies streamline their operations by offering them offshore employee leasing options. Our clients get world class work at far more competitive rates. Visit our site (www.staffingandleasing.com) to learn more!
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