Flexi Staffing: Then, Now and The Future
With permanent and stable employment becoming less appealing in India, the Flexi-staffing or contractual/temporary staffing market is expected to grow in size. It is, in reality, a rapidly spreading phenomenon in India, especially in areas such as technology and web applications as a part of leveraging flexible staffing solutions.
According to a new study by the Indian Staffing Federation (ISF), an association that oversees the recruiting industry, Flexi-staffing increased by nearly 16.3 percent to 3.3 million in 2018, out of a total workforce of 463.4 million. According to the ISF survey, the industry is projected to expand 22.7 percent by 2021, reaching a staggering 6.1 million people.
ISF’s Impact of Key Reforms on Work Formalization and Flexi Staffing study also revealed some other interesting trends and findings, including that Flexi-staffing solutions get the potential to be one of India’s primary job development engines.
The statistics reveal a lot about Flexi-rapid staffing’s growth and why companies are attracted to it as a staffing solution.
What is Flexi Staffing, and How Can It Help Organizations?
Flexi staffing, also known as project staffing, is a staffing solution that allows businesses to recruit workers on a seasonal or project basis. In India, the requirement for Flexi staffing has increased due to recruiting workers for varying needs. It also helps organizations fill resource gaps by providing flexible staffing solutions that bridge the gap between the organized and unorganized sectors. For both workers and employers, it is largely a win-win scenario. In reality, according to a survey conducted by Kelly Services and the Societies for Human.
Resource Department in 2018, 42% of companies said they would look into contract staffing in the next 3-6 months. According to the report, 68 percent of businesses reported that they had already recruited Flex employees for 6-12 months on short-term projects.
The following are the more benefits offered by Flexi workers –
Saves times and cost of recruitment/selection
A flexible staffing agency may turn a portion of their fixed payroll costs through variable expenses by paying only for the talent they need by using a combination of full-time and contract labor. It also saves a lot of time that would otherwise be spent on recruiting and training new employees.
Allows quick mobilization and demobilization of resources
Flexi hiring allows you to use contract workers’ skills to help with day-to-day team tasks when full-time employees are unavailable. It also encourages permanent employees to work on more difficult projects and take breaks to recover.
It helps companies to improve employee retention.
Having a combination of full-time and contract workers creates a buffer for core employees during layoffs. Employee retention is improved when they feel supported and have a sense of job security and temporary workers’ support.
It gives a competitive advantage.
The adoption of a flexible staffing policy provides firms with more personal influence. In turn, this provides an advantage over rivals with static personnel structures.
What Makes is Flexi Hiring an Interesting Proposition for Organizations?
Flexi recruiting appeals to companies for two reasons-
- While organizations pursue faster rollout for niche skills, applicants with new skills such as AI and machine learning choose to work in the gig economy rather than the traditional corporate hierarchy.
- Flexible staffing solutions are usually preferred in the IT field for positions where companies do not want to recruit permanent workers. They’re looking for skills like basic coding to protect themselves against the industry’s rapidly growing skills.
Recently, the need for versatility in the workforce combined with the need to increase efficiency and legal enforcement has peaked. Flexicurity provides a perfect solution to fulfill this pressing need covering different facets of human resources requirements – including recruiting, selection, and exit formalities.
Companies no longer care about the risks involved in temporary personnel solutions and work relentlessly to develop business processes that provide cost-effective and scalable solutions and tackle contractual recruitment challenges. Businesses using such sub-contracts and flexible staffing solutions models benefit from the change in working pace.
The Flexi staffing industry’s growth is not far from reaching new heights, as Flexi employees are deployed in various industries.