subject: Recessionary Times An Invitation For Temps [print this page] Temporary staffing or temporary jobs are the order of the day for major professions in the field of accounting, law, banking and finance in these times of recession. Most of the law firms, accounting firms and banks are increasing relying on temporary staff, as permanent jobs for these major sectors continue to decline. The recently released seasonally adjusted employment data by the U.S. Bureau of Labor Statistics showed staffing employment increased by 36,000 jobs from September to October (up 0.5%) in a year-to-year comparison. The temporary help employment for the month was 7.7% higher than the previous year that is as on October-2011. The temporary help industry has contributed about 15,400 jobs per month to the U.S. economy over the previous twelve months.
Therefore, temporary staffing is emerging as an answer for todays economic woes forcing business organizations to make tough decisions and choices concerning their employees. Employees of an organization are one of their biggest expense as well as greatest assets depending upon the economic conditions prevailing at that time. The employment costs such as insurance, healthcare, taxes etc are proving to be expensive day after day and at the same time, companies are under great pressure to do more with fewer resources at their disposal. The demand for temporary staffing by technical providers is expected to increase by 40% to 45% in the next few years.
Temporary staffing is the best method of managing staffing cost and at the same time maintaining productivity while running on a shoestring budget until the recovery of the economy. Temporary staffing has the following advantages for organizations and these are:
---Hiring temporary staff for special projects or for peak workloads helps in reducing fixed payroll costs.
---Temporary staff helps in prevent burnt out among core or permanent employees during the peak production periods. It also helps in reducing the employee absenteeism and workers compensation claims.
---The staffing company assumes the responsibility of paying benefits, unemployment perks taxes and other expenses concerning the temporary employees, therefore the client organization saves time and money on these aspects.
---New employees in the form of temporary staff can be recruited based on temporary to hire options if such employees are worthy enough to be recruited on a permanent basis.
These are some of the advantages of hiring temporary staff during these recessionary times.
