5 Ways Temporary / Contract Workers Save Your Business Money
Does your business benefit from utilizing contract workers? If you have yet to look into temporary help, you may be surprised by how much money can be saved with contract or freelance support.
Both employers and workers can benefit from temporary work arrangements. Individuals who choose to accept temporary work assignments enjoy greater employment flexibility. Plus, they can explore new industries before agreeing to a full-time position. And employers can avoid the costs of onboarding a full-time employee when a boost in labor needs may not be permanent.
If your organization is interested in learning more about how contract workers can save your business money, connect an employment expert at Staffing Network. There are temporary staffing solutions to build small businesses and strengthen large organizations.
Expenses Businesses Pay for Permanent Employees
When workers are needed, it can feel like the most important goal is to get employees hired right away. But before you choose to hire part-time help or full-time employees, be sure to assess all of the expenses of a permanent hire.
Employers may be paying for one or all of the following for permanent workers:
- Healthcare coverage
- Health reimbursement accounts (HRA)
- Health savings accounts (HSA)
- Flexible spending accounts (FSA)
- Medicare taxes
- Retirement benefit matches
- State unemployment insurance
- Transportation benefits
- Vacation and paid time off
There can also be cost savings at the workplace with contract workers. For example, if you have one workstation that can be used when temp workers are needed, it can be a space that is rotated between temporary employees. This means multiple desks or tools will not have to be purchased.
Contract Workers are Ideal for Special Projects
Businesses choose temporary or contract workers for a variety of reasons, including special projects and to explore the possibility of a permanent hire.
Special project help can also save a business money. This is possible because a temp worker may only need to be trained on one or two tasks. This is different than a full-time hire who could have a lengthy training process. Particularly if a permanent employee need to understand a range of responsibilities. When a special project contract worker is trained, the training focuses on what needs to be done to complete the project. In many instances this does not include interacting with all company departments as a full-time hire would.
Some companies find it helpful to employ temporary workers for set periods as they consider the need for a permanent hire. For instance, a business could bring in temp help for three months. Once the contract period ends, they could renew the contract or part ways amicably.
Are you wondering how working with freelance, temporary, or contract workers could save your business money moving forward? Staffing Network Is a full-service staffing and recruiting firm that specializes in light/skilled industrial, engineering, and operations professionals. Our experts can help you find the best person for your company. Connect with the Staffing Network today.