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If you are looking for a new member of staff, one of the fundamental questions to ask is whether you should hire a temporary or permanent staff member?
It’s not uncommon to use a combination of both as this enables businesses to cover seasonal peaks and plan their hiring accordingly.
Here we discuss the pros and cons of each to help you choose the optimum recruitment solution, with the starting point of understanding and identifying your specific business needs.
Finding the right talent for your workforce is a time-consuming endeavour. Especially when there is a fluctuating volume of work, temporary resources can often be the best solution. Diverting the time and resources that is required to advertise open positions, screen candidates and conduct interviews, can stall projects and reduce productivity.
When you are looking to hire a new team member, a lot of the time, the best Accounting talent will be in permanent employment already. This means that more often than not, you will need to wait for new employees to work out their notice period before they can officially join the team. This can result in understaffing in the short term and put greater strain on the team, potentially impacting productivity.
Whether it’s to support extended employee absences, unexpected demands, special projects or employee shortages, interim Accountants can provide your business with the qualified staff it needs in periods of high demand with no lengthy termination clauses when demand falls.
If you need help right away, a temporary team member can be a great asset. By working alongside a specialist search and recruitment company, such as Halliday Marx, all you need to do is pick up the phone and brief them on your requirements. Our consultants can then find and vet staff, and will have a pool of experienced accounting professionals readily available.
Just like a permanent employee, temporary staff can bring their own specific knowledge to your company, however, like any other hire, a certain amount of training and guidance is still required to get a temporary employee up to speed and integrated into the company’s way of working.
No matter how experienced the employee is or the contract type you are hiring them on, there will always be an investment of time and personnel to get the most out of them.
Should you require specific expertise for one-off projects/requirements, using a contingent workforce means gaining access to specialised skill sets and experience for only the time they are needed.
One of the big benefits of hiring a permanent member of staff is knowing that their tenure in a business doesn’t have an end date. This usually creates a level of comfort that can’t be gained from the feeling in the back of your mind that your stay could be short. A permanent member of staff has job security, long-term prospects and financial stability, so inevitably these factors may encourage them to feel more motivated to perform and contribute to the success of the company.
Those who come and go are far less likely to have the time to fully immerse themselves in the company culture. Over time, permanent employees typically experience heightened loyalty to the business and their colleagues, helping to retain your most valued staff.
With permanent staff, the option to invest in training and progressing them is far more viable. These are members of the team who can advance through their department hierarchy, take on future leadership positions and form a key part of business growth.
While your final recruiting aim will be to have a permanent member of staff join your team, this often is not possible for a variety of reasons. That’s why temporary employees provide such a great alternative, and what they might lack in longevity, they more than make up for in flexibility whilst you look for the next permanent member of your team.
If you have had an employee resign or you are looking to grow your team, then talk to the team at Halliday Marx. We can advise you on the best way to fill the hole in your team on a temporary or permanent basis.
If you would like any more advice on this topic or if you’re looking for your next role, please get in touch with our specialist team today on 020 7096 8200 or email us at [email protected]
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