- May 11, 2020
- Posted by: Sharon Lam
- Category: Business Continuity, Culture, Management Consulting, People, Planning, Strategy & Corporate Finance
The alternative workforce (or staff augmentation) has grown into a massive industry, as many businesses use outsourced teams, contractors, freelancers, gig workers and the crowd to supplement tight talent markets and hire the right skills for projects that need them.
Many companies and businesses are now hiring outsourced talent to increase cost-efficiency and hit their deadlines faster. Not only does this avoid a complicated employment market that navigates low birth-rates, returning retirees, low amounts of qualified talent and more, managing your alternative workforce well also easily allows opportunity for your business to differentiate and scale.
In fact, Deloitte’s 2019 Global Human Capital Trends Study reports that the number of self-employed workers in the US alone is projected to triple to 42 million people, while the growth in freelancing has grown faster than employment growth in the UK, France and the Netherlands. In return, 33% of responding businesses reported the extensive use of alternative workers for their IT sector, 25% for operations, 15% for marketing, and 13% for finance. In a constantly evolving market, these statistics demonstrates just how many companies are hiring the alternative workforce to boost growth and drive in an uncertain job market.
In fact, 45% of surveyed employers replied that they have experienced difficulty filling open positions, the largest percentage since Deloitte’s survey in 2006. For companies with 250 employees and greater, this hiring difficulty rises to 67% as companies struggle to find qualified candidates.
To further highlight how managing alternative forms of employment has become an issue of critical concern, their survey reveals that the strategic use of the alternative workforce can enhance organisational performance by putting the right skills in place when, and where it’s most needed.
An effective business strategy to implement to maximise the benefits of outsourced workers is Staff augmentation.
What is Staff Augmentation?
Staff augmentation is a strategy that allows your company to add highly skilled resources to in-house teams based on your needs, as short or long-term as you like. You augment the teams you already have by hiring skilled outsourced workers that complement the skills in your existing teams while filling in any skill-gaps that may exist. You can do this on a project-by-project basis to target maximum efficiency for each project. By doing so, businesses can easily achieve speed to value by infusing external talent to your existing capability.
Many businesses have already been utilising staff augmentation because of its flexibility. Adding and subtracting resources as you need without the necessity of paying an employee year-round can help the bottom-line of your business, especially when your business is still small.
The issue then stems from recruitment. How can a business easily find skilled workers that suit their needs?
The process of finding the best outsourcing services can be difficult when deadlines are tight and you’re time-poor already by juggling all the facets of your business. Engaging an alternative workforce strategically and effectively can be complex. How can you know that the workers you’re hiring can effectively address what you need?
That’s where a business like Collappor8 comes in.
We help businesses find the skills they need through our staff augmentation services which embody our belief that effective partnerships and growth can only arise from clear-cut collaboration. We keep our spirit as management consultants by not only examining you, your professional services and your commercial objectives, we also provide any and all resources that you may lack to achieve those commercial objectives at an affordable range. Our expertise lies in supplementing and empowering our clients by scaling up your team after close discussion of your needs, helping you redesign your business for greater returns.
Collappor8 helps bridge any gap in your process, from strategy and corporate finance to your accounting, customers and marketing, operations, managing your business people and culture and more with our highly collaborative team of Management Consultants, Chartered Accountants and talented creatives. Problem-solvers to our core, we task ourselves to bring together the perfect teams for any problem provided to us by augmenting your business and clearing the way to your business goals.
With our extensive range of skill-sets, trust Collappor8 to help you augment your business and solve business problems your way. Reduce the hassle of recruiting effective outsources by simply contacting us today.