The staffing industry is in constant flux, forever changing to meet the needs of both employers and employees. The biggest trend we’re seeing at the moment is growth in temporary recruiting. In the wake of the recession, temporary staffing has become more common, helping to stabilize the economy by allowing companies to recruit in line with seasonal fluctuations, budgets and market conditions. In an uncertain economy it pays to be prudent with hiring decisions. As well as meeting variations in need, temporary staffing allows companies a much needed opportunity to ‘try before they buy’.
With this upward trend in temporary staffing set to continue, here are 8 reasons why recruitment agencies should consider offering temporary recruitment as a service.
1. Temporary recruiting is on the rise
Long-term employment and traditional hiring practices are quickly becoming a thing of the past. The Bureau of Labor Statistics shows its lowest numbers on long-term employment in almost four decades. Businesses are turning toward temporary recruitment agencies to help create a flexible workforce. This allows businesses to adjust quickly to the demands of a constantly fluctuating economy—one where the need for temporary hires is the only constant. According to business and finance writer, Andrew Moran, “[T]here is one area of the U.S. economy, and in other developed nations, too, that is booming: temporary workers. Temp workers are becoming the perpetual fixture in an economy where labor competition is fierce and high-paying positions are scarce.” If you’re not already offering temporary recruiting as a service, now is the time to incorporate it into your agency model.
2. Become a one-stop shop for your clients
With changes in employer need, being able to act as a one-stop shop for clients is a win-win situation. By providing an all-in-one service, you’ll be able to differentiate yourself from competitors, and ultimately bring in more business.
3. Build long-term relationships with clients
Offering both temporary and permanent staffing solutions will give you the opportunity to build long term relationships with your clients. By servicing their staffing needs at every stage of their company’s development, whether in a growth period, transitional stage, or in succession of senior staff, you’ll be able to carve out a relationship as their counselling talent partner.
4. Build long-term relationships with candidates
Not only are businesses more frequently looking for temporary employees, it seems there’s a new generation of workers that want the flexibility and control that temping offers. Some want to learn new skills, while others want to gain experience, some are in it to network, and others are there to get a foot in the door. Whatever the reasons, this new wave of ‘temp savvy’ workers, are mixing it up, and they’re searching for recruitment agencies that can facilitate their lifestyle. By offering temporary recruitment services to your candidates you’ll be able to support them throughout the varying stages in their career. Moreover, you’ll be able to learn what they want and get a better insight into their skills. Over time you’ll be able to build up a more accurate candidate database, giving you the power to make better placements and please both client and candidate. In the long run, as you service their career, this will lead to multiple placements and of course, multiple fees.
5. Steady cash flow
In monetary terms, shorter contracts mean you’ll be making multiple placements and more regular fees. This will help to give a steady cash flow on top of your permanent staffing solutions which do have a tendency to be feast or famine. This will give your business the stability it needs to grow … it could even be the base for expanding into other markets or locations.
6. Build a new revenue stream from existing clients
Existing clients are often an untapped resource for increasing your revenue stream. By offering temporary recruitment services as well as permanent, you’ll be able approach existing clients with a new offering. Existing clients are already warm to your services and have rapport with your recruiters. It won’t take long before they’re ready to try out your new service.
7. Navigate uncertain or quieter times a little easier
With a wider client base, many of which will at some point want to hire both permanent and temporary workers, you’ll be able to navigate down turns in the economy with ease. As we all know, in a down turn many employers ease off on hiring. Those that do hire, can take a much longer time to fill positions than usual. Having the ability to offer them temp to perm staff can help to overcome this resistance to hiring, allowing your agency to weather the storm more easily.
8. Build your reputation by offering a simple recruitment process
When offering a new service, having the right systems in place is essential. In temporary recruitment, one of the biggest struggles can be offering a simple recruitment process that is hassle free for clients, candidates and recruiters. Using tailored back office solutions will ensure that you can manage all the legalities and paperwork with ease. For everyone involved this simplicity will provide a positive experience, helping to build your reputation, ensuring that people will keep coming back for more.
If you’re thinking of incorporating temporary recruitment into your agency model and would like to know more about how this could work in practice, get in touch with our team.