The gig economy has been on the rise around the world for years now, driven by technological advancement and the fact that more and more people are looking to establish financial independence without committing to a single company or client. This trend brings many possible benefits to companies looking to improve profits, but it can also bring certain disadvantages if not handled correctly. For the most part, hiring non-permanent, or contingent workers, can bring various perks to your business, particularly if you know how to minimize legal liability and ensure compliance.
What’s more, there are many reasons why you may want to hire non-permanent workers nowadays, especially when you consider the fact that you have access to a global talent pool. Today, we are going to put the contingent workforce into perspective and take a look at the five important benefits of hiring gig workers, all of which will help take your business to new heights of success.
Avoid getting understaffed at crucial moments
Understaffing can be a major issue during those weeks and months when your products or services are in high demand. Every business has those high-demand periods throughout the year, which is why you need to tend to meticulous forecasting and market analysis to prepare for those peaks. Now, most business leaders will resort to retaining a full-time staff for those periods so that they know they have workers ready to meet the demand, but this can have some serious financial drawbacks.
During those months when the demand is low, these full-time employees are making you lose money because there is simply not enough work for them, which is why hiring gig workers is a more financially-sensible option.
You can get contingent workers to fill your ranks at those crucial moments when you need to meet the higher consumer demand, and then you can disband those teams when the demand returns to normal. This is a much more flexible model that will save you money over the long term.
Don’t commit to long-term contracts
When you’re unsure whether or not you need a full-time employee, perhaps you’re testing out a new position at your company, the last thing you want to do is to bring someone in full-time. You will be tempted to do so because after all, you need to see if the position demands a full-time employee and if it has potential, but a better option would be to bring in a non-permanent worker.
This is a better idea whether you’re growing an online business, or a brick-and-mortar company. Trial and error is a natural and much-needed process that you have to go through when you’re testing out new positions and trying out new ideas, but that doesn’t mean that you need to spend money on new full-time hires. Instead, make sure to work with a reliable agency that will connect you to reputable contingent workers, and bring them in to test out the new position – no strings attached.
Access to top talent in the industry
One of the biggest perks of hiring non-permanent workers is not the financial savings – it’s getting access to the most talented individuals in your field, quickly. In competitive, fast-paced markets like Australia, for example, getting top talent in quickly can make or break a project, and direct the course of the business for the next few months, or even years.
The obvious problem, however, is ensuring compliance when businesses are hiring non-permanent workers, which is why today’s contractor solutions in Australia focus heavily on legal compliance and finding the most talented individuals in the industry. This is a great example of how business owners can acquire talented individuals with minimal risk, so no matter the market you’re operating in, use the same approach to find talented contingent employees and retain your competitive edge in the industry.
Speed up the hiring and onboarding processes
Another important perk is that hiring contingent workers takes significantly less time, and the onboarding process can be much more efficient. When you’re hiring contingent workers, remember that you’re getting skilled, experienced employees that can adapt to your unique processes quickly, so onboarding can be seamless and quick, without any need for them to internalize your company culture and brand because they won’t be sticking around for too long.
Hiring contingent workers is even easier, because you can do this through a trusted partner who will conduct proper talent sourcing and vetting on your behalf. This frees up your time and allows you to focus on other areas of your business, while talented gig workers enter your company seamlessly and become productive team members from day one.
Boost innovation and get fresh new perspectives
Last but not least, no matter how talented and creative your veteran employees may be, there’s no denying that sometimes innovation can stagnate in your company. What you may need is a fresh pair of eyes and a fresh perspective that only new hires can bring to the business, but that doesn’t mean that you necessarily need to hire new full-time employees.
Instead, you can bring non-permanent consultants and creatives into the team to spice things up and get the innovation process moving forward once more. These workers will incentivize your full-time team members to kick-start their own creative process, and once the wheels are in motion, they can leave them to take the project forward on their own.
Over to you
In the end, there are many benefits to hiring contingent workers, especially in the new normal when money is tight for small businesses. That said, it’s not just about saving money, it’s also about boosting flexibility, innovation, and gaining access to the most talented workers in your industry on a moment’s notice.
Guest Author, Raul Harman, s a B.Sc. in Innovative entrepreneurship and has a lot to say about innovations in all aspects of digital technology and online marketing. While he’s not enjoying travel, football and great food, you can find him on Technivorz.com.