Contracting Could Be The Answer To All Your Hiring Woes
With the current state of the economy, many businesses are reluctant to pursue risky growth strategies, especially where they rely on the availability of skilled and experienced personnel who are in short supply. Many businesses have already had to rein in capacity to align with the availability of key personnel and where this continues for a prolonged period, it can adversely impact staff morale as well as the bottom line.
The only way to succeed in a competitive life sciences marketplace is to be bold and forge ahead with plans that will help your business to break away from the crowd. One way to increase investor confidence whilst making ambitious plans for business development is to hire contractors.
Hiring employees is a serious financial commitment because if your plans were to fail, you would still have a responsibility to provide each employee with gainful employment, or begin the arduous process of making them redundant. Top talent in the industry may equally be uneasy applying for permanent positions in what may be perceived as a fragile state of growth.
Contractors are the perfect alternative, being hired for specific projects, to deliver particular outputs, or to remain in post for a defined length of time.
Contractors tend to be specialists in their field, with extensive experience that can be valuable in getting a new project off the ground, re-invigorating one that has stalled, or filling an essential skills gap in your existing workforce.
The main benefits of contract hires include:
1. Flexibility. Contractors can be recruited at short notice and their contractual terms will be subject to negotiation and mutually agreed to suit both parties. This level of flexibility can allow high speed deployment without complicated recruitment processes and training. Notice periods of as little as a week are common, minimising the risk to the hiring organisation.
2. Specialised skills. Contractors will have worked in a variety of organisations across a range of industry sectors, generating an impressive skill set that the average employee who has been dutifully employed in the same field for much of their career cannot match.
3. Cost effective. Whilst their day rate is usually higher than that of an employee, their terms of employment are considerably more flexible and they do not receive holiday pay, sick pay, or other employee benefits. Contractors are incentivised to deliver, knowing that their posting has a defined end date and their success in securing their next role hinges on their performance in their current one. Hiring a contractor also eliminates the need for a prolonged and costly recruitment campaign, representing further financial savings.
4. Fresh perspective. Bringing a contractor into your existing workforce can add a fresh perspective to a problem that you are trying to solve or support you in moving forward with an effective and appropriate course of action. This is because they will have spent many years operating inside and outside of the industry, learning new skills and experiencing different problems in each organisation, all of which increases their critical thinking ability and risk analysis skills.
5. Increased productivity. Hiring a contractor is a far faster process than recruiting a new permanent employee, ensuring that somebody will be in post and able to start work promptly. They will already have the skill set that you need, so they will be effective sooner. Because they are used to moving jobs, contractors are highly adaptable and will soon assimilate your IT systems and processes and they are adept at integrating with existing personnel. All of these benefits combine to deliver increased productivity.
Contract hiring for the skills that you need can alleviate your recruitment concerns. At Circle Life Sciences, we have access to an extensive network of experienced contractors who are considering their next move. We can connect you with the individual best suited to your individual circumstances to help your business press forwards, delivering benefits and shining the beacon for the life sciences industry. To find out more about our solutions and how we can help your business, please contact us today.