Companies today – startups, SMEs, and large organisations - are all hungry for growth and looking for new ways to hire high potential talent. At the same time, the gig economy, a phenomenon which is also known as the ‘Uberisation of the workforce,’ is slowly becoming a reality around the world. This means that forward-looking companies are now going beyond the standard full time 9-5 talent, to explore more flexible options which include on-demand or contract basis, remote talent and those who are working flexi-time. This ‘on-demand workforce’ enables companies to cut costs and use talent at optimal levels to create a more productive workforce, while also providing multiple opportunities to individuals, who may not be able to join a regular workforce.
With the emergence of the gig-economy, the world of work is also changing. According to the European Union’s statistics office, around half of the Dutch population - 49.8 percent, work part-time. This is increasingly being looked upon as a lifestyle choice, rather than a need-based one. Other European countries such as Austria (27.9 percent), and Britain (24.9) percent also have a large portion of their workforce working part-time. In India, according to global job site Indeed, 2.8 percent of all job postings on its India site are for part-time roles.
Still undecided over whether part-time talent would be beneficial for your business? Well, here are six benefits that hiring part-time talent can bring for your business:
A wider talent pool: Flexible, part-time hiring enables companies to reach out to a wider talent pool, which would be otherwise be unreachable in a typical 9-5 set up. These include educated and talented women and mothers, students, experts in their respective fields, consultants and even retired professionals who would opt for part time work opportunities. This is especially true with women who have been on a break. You can also enhance your workforce by bringing in diverse talent such as those with other voluntary commitments, or people with certain disabilities, who may not be interested in or be able to take on a full-time role. A diverse workforce is a creative one, has a higher employee satisfaction rate, and has the added benefit of being able to show your clients that your company values diversity as a culture.
Higher Productivity: Rather than have full-time employees who may take eight hours or more to complete a task, staffing part-time will enable businesses to get the same work done by dedicated specialists, in much lesser time. In fact, a study conducted by Ernst & Young (EY) has found that women who work part-time, especially mothers, waste the least amount of time at work, 11.1 percent rather than 14.5 percent for the rest of the workforce. Part-time employees are also often able to dedicate time for their family/study commitments and for work. Hence, the time that they dedicate for work is optimised to ensure that they complete the task within the specific time, while providing quality work.
Lower costs: One of the biggest advantages of hiring part-time is less overhead cost. Part time employees are typically paid on an hourly wage basis, and on a work per need hour basis, and hence can be scheduled for the number of hours the company needs. This itself saves cost on a job that does not require full-time working. Additionally, the company, gets to save up on compensations and other benefits, which they would otherwise have to dole out to full time employees. It also means that costs such as electricity, stationary, office space rentals, etc are also reduced.
Market adaptability: Hiring part-time employees also enables companies to staff in shifts according to consumer demands. The flexibility to adapt to market changes and labour requirement are definite perks with part-time hiring. Hours such as weekends or evenings, which full-time employees may refuse, can be covered by part-time employees.
Strong work ethic: Contrary to the common misconception that part-time employees may not be as dedicated as full-time ones, in many cases part-time employees may work that much harder to prove that they are as good or even better than the full-time employees.
Lower Attrition: For many, the part-time route becomes a blessing as they are then able to spend time with their families, without putting their careers on hold. With work-life balance taken care of in the case of flexible or part time talent, you have a happier, healthier workforce. This then ensures that attrition rates are often lesser as, if an employee is satisfied with the position they are in, they tend to stay on for longer.
From saving up on overhead costs and having greater flexibility to being able to staff according to market requirements, to getting access to a diverse, productive and talented work pool and ultimately ensuring that your employees are happier and more satisfied at the end of the day, the benefits of staffing part-time are multitude for businesses.
FlexiBees has provided companies, both startups and established players, with part-time talent for many projects and roles; across a variety of functions & skill-sets like Marketing, Digital Marketing, Public Relations, Investment Banking, Inside Sales, Business Development, Technology, Content Writing, Graphic Design, etc. All these companies have benefited by being able to hire high quality talent at pricing optimised only for the hours of work they need. Many of these have converted to ongoing roles (also part-time) with everyone being satisfied with the arrangement.
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