The corona virus pandemic and the global embrace of a remote, decentralized workforce has spurred significant growth for Staff augmentation. What was once a euphemism for outsourcing has matured into a robust business strategy: In a nutshell, Staff Augmentation provides temporary, industry-specific support to companies that cannot afford to wait for or train talent to meet their project deliverables.
Staff augmentation is an efficient and affordable option for companies to hire specialized talent to gain a competitive advantage utilizing a plug and play, contract based model on an as needed basis.
Here are some additional benefits of staff augmentation so your company can develop a powerful, multifaceted business strategy to curb any talent shortage:
- Access to distinct skill sets: Unemployment among highly skilled workers is almost non-existent, which has made freelancing an appealing option. Growing availability means employers can select contractors with the ideal proficiencies for the job—bringing the full force of their expertise to the company.
- Cost-savings: Staff augmentation can reduce business costs and increase profitability by:
- Decreased overhead costs (such as benefits and taxes) associated with maintaining full-time, in-house staff.
- Reducing the costs of paying year-round employees by contracting work for finite projects.
- Decreasing training costs—hiring highly skilled professionals accelerates the quality and speed of training and development.
- Gaining flexibility by allowing managers to quickly terminate contracts in the event of a budget shortfall.
- Efficient hiring: Companies can often hire consultants more quickly than full time employees since the hiring process usually doesn’t involve HR or require extensive interviews. When there are limits on increasing headcount, separate budgets may still allow for consultants or temporary employees. increasing headcount.
- A focused and unbiased workforce: Because consultants are hired to undertake specific projects and meet firm deadlines, they approach tasks with precision and focus. Their goal is to ensure the client’s success on the specific projects they’ve been tasked with.
- Flexibility: Staff augmentation enables companies to adapt quickly. By adding specialized talent, companies can expand their in-house team when project deadlines require a larger workforce. This flexibility allows companies to respond faster to changes in the market and exploit opportunities for growth.
- Attain assistance without administrative complications: Agencies providing staff augmentation oversee payroll, benefits, unemployment, coaching, termination and performance issues so companies don’t have to devote additional administrative capacity and expense. Agencies can also manage project plans, budgets, and resources to ensure that project milestones and spending are on target.
Staff augmentation has moved beyond its inception phase and is readily accepted as an alternative model of staffing globally. Businesses and companies benefit from this flexible hiring arrangement as they leverage the capabilities of professionals with intensive skill sets in a cost-effective and efficient manner. Staff augmentation also benefits the millennial generation. They prefer working on projects that require their domain of expertise rather than undertaking traditional jobs. Therefore, staff augmentation serves as an effective bridge ensuring an efficient pipeline of talent for companies available for specific durations. Contact Us Today to learn more about our flexible staff augmentation options.