It has been said that the higher the risk, the higher the reward. The reality is; that is not always the case. Exposing your company to unnecessary risk can be costly. There are a number of key areas where you can actually increase your productivity by reducing your risk. An investment in temp staffing can help in this regard.
How can temp staffing help reduce your company’s risk? Let us focus on just two areas of risk reduction:
- Cuts down on the risks associated with being under/ over staffed
- Reduces the risks connected with testing out areas of expansion
Cuts Down on the Risks Associated with Being Under/Overstaffed
There are times when your business requires more staff and times when it requires less. Being both over and understaffed presents a risk to the productivity of your company.
Let’s first look at being understaffed. There may be times where your company faces a seasonal increase in productivity. At these times your employees may take maternity leave, get sick or care for other personal/family matters. One option is to have your existing employees pick up the slack and take on an increase in workload. By making that choice you are risking the following consequences:
- Employees becoming overworked
- Overworked employees can become stressed out and overly tired
- Can lower employee morale
- Can contribute to a high turnover rate
- The paying of unnecessary overtime
The judicious use of temp staffing can reduce the risk associated with being understaffed.
What about being overstaffed? By allowing your company to become overstaffed you are risking an adverse hit to your bottom line. You also are faced with the possibility of layoffs, which, in addition to the financial costs of potential termination and severance expense , it can also have a negative impact on company morale. This is another area where using temp staffing can help. When your company is faced with temporary situations where you require increased staff, you can use temp staffing instead of hiring permanent workers.
Reduces the Risks of Testing Out Areas of Expansion
Is your company at the point where you are thinking of expanding? By using temp staffing you can go ahead and test it out risk free. If you hire new fulltime employees and the expansion does not go as planned, you run the risk of being overstaffed. But by hiring qualified temps with the right skills, you can test the viability of the expansion with confidence. You then have the option of offering any temp workers permanent positions if you feel that they are a good fit for your company.
Why not reduce your risk while increasing productivity? By the wise use of temp staffing you can experience low risks and high rewards.