The constantly shifting business demands of today’s pandemic-ridden world often leave businesses needing specialized talent fast. But with the lack of industry-specific support in the immediate talent pool and with the hiring challenges posed by a global health crisis, what alternatives do businesses have to address this issue?
Employers tend to spend hours on hours leafing through resumes and interviewing applicants to build a team of capable employees. While this more traditional method may feel like the safest route for your business, it may not be the most practical.
A rather unorthodox employment strategy becoming increasingly popular due to its effectiveness is staff augmentation. Think of staff augmentation as temporarily hiring experts to help your business with what your current workforce can’t handle, be it tech support, finance, or HR.
Entrepreneurs may be reluctant to entrust tasks to people they haven’t screened themselves, and understandably so. But as we examine the nature of staff augmentation, we’ll find that, ultimately, staff augmentation gives you a cost-efficient, competitive advantage in the market.
Is It Just For Startups?
Entrepreneurs may have the misconception that staff augmentation only benefits small businesses that don’t have as many resources as their multimillion-dollar counterparts. This is simply not the case. Even well established businesses can benefit from staff augmentation.
By hiring individuals with specialized skills, businesses are only increasing operational success at a fraction of the cost of hiring in-house staff. Here’s how:
How Is It Cost-Efficient?
Though it may seem counterintuitive at first, staff augmentation is guaranteed to save you more money. Think about the nature of these services and compare these employees to permanent staff.
Training, Benefits, And Other Costs
With permanent staff you have to take into account costs like benefits, taxes, and leaves. You also have to pay them year-round even though they may not be utilized as much for every project you take on. You may also occasionally need to spend on training resources. With contracted employees, on the other hand, you already get a team of experts, so there’s no additional training costs, and you also only pay them for the few months they’re needed.
Admin Work, Or Lack Thereof
Realistically, businesses are never immune to budget cuts. Although unideal, in the event of a budget shortfall, it’s easier to terminate contracts with contracted employees than it is with permanent, colleagues-turned-family staff. Additionally, when it comes to admin work like payroll, benefits, addressing performance issues and the like, you won’t have to lift a finger, as staff augmentation providers take care of this for you.
How Does It Give My Business a Competitive Advantage?
Access to Specialized Skills
Although staff augmentation is a form of outsourcing, the key difference between this model and complete outsourcing is that business owners have control over who gets to join their team.
Through staff augmentation, you give your business exactly what it needs. You get to choose teams of highly skilled professionals who have the ideal proficiencies needed for the job, giving you a competitive advantage.
You’re guaranteed staff who are focused, skilled, and know exactly what is expected of them. Think of it this way: adding a team of experts to your already competent core group can turn your simple workforce into a powerhouse.
Addressing Market Demands Quicker
By opting for staff augmentation services, companies are better able to address understaffing in the workforce, and are better able to meet often unpredictable market demands.
If you’re taking on a project that needs a bigger workforce than what’s available to you, staff augmentation is the way to go.
You’ll Know What Works And What Doesn’t
Because of the short lived nature of contractual employment, you get to see firsthand what works for your business and what doesn’t. If what your business gets out of your borrowed team proves to be valuable in the long run, you’ll know what competencies you’d like to keep in-house.
You Get A Fresh Pair Of Eyes
Since you’ll be hiring a team separate from your core operations, you’ll get a new perspective on your projects. Be it a small-scale affair or a long-term business undertaking, it’s unarguably beneficial to get an “outsider’s” perspective. Your contracted employees may offer recommendations that would increase productivity and generate new ideas in the workplace.
Staff Augmentation Is The Future, And The Future Is Now
Many experts agree that staff augmentation is an affordable, practical, and resourceful solution to business needs. In a time where resources are as limited as market demands are unpredictable, flexibility is paramount to a successful business. More than working hard, we believe in working smart.
Interested? Give us a call.