According to the American Staffing Association, staffing organizations help to employ three million people a day, across the nation, from healthcare and factory workers to corporations and small businesses. Temporary and contract staffing are a vital part of vendor management services.
- Contract staffing enables companies to flex their headcount as needed. This can save on long-term budgets as an organization needs to pay for only the time the contractor is needed.
- Contractors leave at the end of the contract, with no additional fees. Employees with over two years of service may get redundancy payments that were defined at the time of hire.
- Staffing services carry the necessary insurance, so the client does not carry the burden or risk.
- Demand cycles, business growth and technology implementation all affect staffing. Using vendor management services to bridge staffing gaps can infuse specialized knowledge at critical junctures and add support as needed.
- Contract staffing may be available on short notice. This can help overcome the issues that arise from a lengthy hiring process.
- Highly-qualified staff with similar project experience can be brought in to consult without risk of position redundancy issues.
Insurance products that address the staffing industry and their unique needs can reduce liability concerns and identify emerging trends. This can ensure staffing organizations have the coverage they need to help them grow and prosper.