With the current state of the world economy, many businesses found themselves having to resort to extreme measures to stay upfloat.
The Havard Business Review published a study that highlights the significance of striking a balance in cost cutting to survive today’s economy while also retaining the ability to scale up when needed to get ahead during slow-growth recovery.
It is a delicate balance that calls for innovation – to explore new options and ways to conduct business without occupying a great deal of the company’s bandwidth during stressful times.
Recruiting and on-boarding is one of the key areas worth exploring. It is estimated that on average, a company in the US spends up to $4K to hire new employees and takes up to 52 days to fill a position.
As such, it’s worth exploring solutions that would make the process more efficient and responsible.
Remote staffing, also called offshoring or subscription staffing, is a new flexible solution that allows companies to acquire brilliant talent to help grow their businesses on a project or hourly basis.
It’s a long-term solution that the service partner offers companies which guarantees them greater stability in comparison to acquiring freelances while ensuring useful flexibility to match the market needs.
3 key features of virtual staffing present it as a great option to explore in the modern business landscape.
An important feature of remote staffing is the efficiency of the process where a company acquires the needed expertise and skills without having to worry about the associated risks and costs of recruitment and training.
With subscription staffing, a company is able to scale their monthly hours depending on their business needs efficiently and without any additional costs.
When business picks up instantly, team scaling is easy as the good partnership developed with the service provider ensures the availability of staff when needed in a significantly faster fashion than going through their own hiring process providing the company with an edge above competition.
This leads to the next important feature of remote staffing.
The capacity of a company to instantly respond to changes in the scope of their projects by scaling and descaling the business offers flexibility to always match the market needs.
This protects the business from unexpected changes in their scope. A company can get as many team members as they currently need without the obligation to retain them after the project is concluded.
This means that the company will run smoothly during both ‘up’ periods and “down” periods without affecting the business development.
It also protects the business from uncontrollable factors such as unexpected sick leaves or urgent absences. The service partner has the ability to keep the business covered without interruptions.
Specific and Diverse Expertise
Another great feature of subscription staffing is the top talent it can provide for less cost without having to complete with larger companies. A business can acquire specific expertise on a part-time basis benefiting greatly from those skills without having to pay top dollar. It also capitalizes on the diverse expertise the service partner can provide given their involvement in diverse projects from different fields.
In addition, it expands a company’s reach providing them with access to great talent outside of their local candidate pool.
In Conclusion, Virtual staffing is a great tool businesses can utilize in the modern landscape. It provides the company great expertise with flexibility to match the market and scale up operations when needed stay ahead the competition.
Do you find your business slow to respond to changes in opportunities due to the cumbersome nature of the hiring process? we’d be more than happy to help you to scale up and win more deals.
We Hire, We Manage, You Excel!
Get in touch with iMC for a free consultation today.