With the political climate constantly changing on a daily basis, uncertainty of what will happen in 2019 is making planning a challenging task for many companies in the science and clinical sector.
Planning for your recruitment strategy doesn’t have to be so arduous. Whilst uncertainty looms upon us, why not opt for a more flexible recruitment model?
If you are looking for a bit of stability and security, a responsive recruitment approach like contract and temporary recruitment might be a more favourable solution.
Temporary contracts range from 3 months to a year, and once the fixed amount of time is over the position terminates with no further commitments.
These types of contracts are becoming increasingly more attractive, and it’s not just employers seeking flexibility. In the last decade, since the uncertainty of the recession, the self-employed workforce has risen by 45%, and now accounts for 15% of the working population. This model has proven to be especially popular among the millennial generation who desire a more flexible lifestyle and to work on projects they feel passionate about.
In a recent survey by CK Group, we found that 80% of our candidates have previously worked in a contract position and 60% would be happy to consider another contract role. We also found that a third of candidates looking for work seek contract roles as a way to gain experience over money, with another third using temporary contracts for flexible working.
Here are a few of the key benefits of taking on contract workers to fill your short-term needs during these uncertain times.
Flexibility is vitally important during these uncertain times.
The main benefit of contract recruitment is that contractors can be brought on as and when needed to address seasonal specific work requirements, and to help stabilise your business without any commitment. They can be hired on a short-term basis, ensuring that if there are budget cuts, or if the project is completed early, there are limited consequences.
A quick turnaround
Hiring a contractor is ideal if you experience a high project turnaround and need to build a team quickly to support rapid growth or sudden unexpected demand. As contract recruitment is for a fixed amount of time, less consideration is needed when employing someone new. This, in turn, makes the hiring process easier.
Furthermore, contractors usually have the necessary licenses, permits, and rarely require any training, so can start the job immediately.
Hiring for unconventional jobs
Companies are not the only ones feeling the uncertainty. Many STEM experts are refusing to change jobs for fear of lack of security. Therefore, hiring permanent staff for unconventional jobs is harder than ever.
However, contract candidates are more willing to take on those niche roles. For example, 74.5% of CK Group contractors would consider working away 4 days a week for a contract job, which is ideal for those companies in a remote or difficult location.
Additionally, 55% of people asked would relocate for a contract role. They would also be happy to fund their own relocation.
Access to specialized skillsets
At CK Group we have many experienced contractor candidates with specific skillsets in their field.
Contractors tend to gain a lot of specialised experience while working on short- term projects for various different companies within your industry. They acquire unique skillsets which can be transferred onto the next jobs. They can bring a new and unbiased third-party perspective to your organisation, and help you run projects more efficiently.
In short, they can provide a competitive advantage to help you stay ahead of the curve during these uncertain times.
A cost-effective solution
There are also financial benefits to hiring contract staff. Hiring staff on a contract basis allows you to easily stick to a budget, avoiding any additional expenses such as training expenses and taxes. In fact, hiring a contractor can cut your payroll costs by 20% to 30%.
Contract staff are hired for a set amount of time and at a specific rate. This makes it very easy for organisations to calculate the exact hiring cost, allowing you to have tighter control over your allocated budget.
For CK Group’s contract staff employed on a PAYE basis, CK Group will cover all employment matters such as employee rights, holiday and their Employers National Insurance contribution, releasing you from this burden.
All in all, hiring contract staff might be a more favourable solution for those companies who need to plan for the short term. To find our more, get in contact and we will be happy to answer any questions.