Covid-19 has altered the world as we knew it in a short span of time. After reaching the end of 2020, you must be thinking about what lies ahead. A question that lingers on the mind is about how contingent workforce will be used in the prolonging Covid-19 new normal. This disequilibrium has lasted throughout this year and will most likely continue next year as well.
Especially the staffing industry, like most of the other sectors, is severely impacted. It is staring at its first revenue decline in more than a decade. And now it is leading to temporary staffing. According to the forecast by a global advisory firm, Staffing Industry Analysts, the slump's extent is expected to be more than 20% in some business segments.
Not unlike the other industries, the staffing sector is 'working-from-home.' The recruitment processes, most of which require physical or face to face interactions, are being performed remotely. But the fact that the staffing industry has its origins in the post-World War economy's adversities provides a sense of optimism. You can opt for temporary staffing for your organization with this assurance. There are many temporary staffing agencies in India like ours that offer the best services.
In this climate, your organization needs to rekindle innovation and rise to the Covid-19 challenge to sustain this setback. But before diving deep into that aspect, let us examine the impact. Like, it's upside and downside and the problem areas that need to be addressed.
Although expected to be transitory, this phase of lockdowns and mobility restrictions has an adverse impact on the staffing industry:
The workforce turnover has risen at an unprecedented rate due to the fear of contracting the disease. The general mobility restrictions also play a major role in ensuring a rise in workforce turnover.
The partial or full closure across the nation has led to an abrupt fall in workforce demand in most sectors. However, there is a sudden spike in some verticals like healthcare and logistics. It has given rise to temporary staffing.
You will also notice that there has been a sharp transition from a candidate-driven market to a job-oriented market. Previously, the candidates could choose from a plethora of offers, but now they need to adapt their skills as per available open positions.
The new regulatory regime to protect the rights of workers and safeguard their interests enforces additional compliance requirements. Thus, it is ideal to opt for temporary staffing agencies who will serve your best interests.
Side by side, at the same time, new opportunities have emerged for staffing companies:
Thus, amid these chaotic times, the staffing industry's need is to understand changing business dynamics. And adapt to these dynamics accordingly. Our temporary staffing services do this precisely. We have transitioned from the role of labor market intermediaries to the business drivers of the future. Our temporary staffing solutions help businesses like yours to grow even in these testing times.
It is essential to keep the staffing engine running. And it is also vital to mitigate the negative impacts and make the most of emerging opportunities to ensure long-term sustenance. Temporary staffing agencies are pivotal in reassigning candidates and associates as mandated by shifting workforce demands.
Your business needs to focus on nurturing local candidate pipelines and identify transferable roles. It is poignant to make short-term work accessible before people can return to their day jobs. Simultaneously, your organization should quickly adapt to the changing legislative environment and enable remote work platforms.
Read below some of the approaches which are to be considered for the immediate-to-short term:
One of the best strategies that will help temporary staffing is creating a database. This database will be a cross-industry data platform integrated with government jobs and employment databases. It can be updated in real-time. Being empowered with predictive algorithms, this repository will help identify transferable skills and fill the gap created by abrupt shifts in demand and workforce supply.
Your organization should have a business rules engine. It will help the company adapt to the ever-evolving Covid-19 legislation across countries and states. In this manner, you can prevent making changes to the existing mission-critical enterprise applications.
There is a spike in jobs for essential workers like the nursing staff. The digital marketing campaigns can target niche healthcare. Your organization can also roll out the supported communities on social media networks.
Currently, large-scale furloughs and layoffs are taking place. Thus, carefully curated career transition solutions will be much sought after. And temporary staffing services will be able to connect this available workforce to meaningful employment.
With the Covid-19 running rampant, it is imperative that your company takes necessary precautions across the entire world. Your company should examine practices and review contracts while complying with government rules and regulations.
Some best practices endorsed by temporary staffing agencies for companies are:
You should communicate with your clients regarding protocol and confirm that you both are on the same page. By now, your company should have hygiene protocols in place. It is imperative to communicate these practices to your workers with temporary staffing before sending them on assignments. At the basic level, it should include hand washing, cough etiquette, and staying home when sick.
Your organization should consider modifying current or existing policies relative to both sick leave and mandatory illness reporting. If you offer sick leaves to your contingents, examine the policy's text, and consider possibly altering it on a temporary basis.
In the event when your staff is in financial need, they may be tempted to take assignments when sick. So, it is crucial that you have temperature checks at your workplace. However, these checks should not be conducted only on specific workers. You must not discriminate and run these tests for all employees.
Temporary staffing service providers like us believe that ensuring these measures will help us to find the best-skilled candidates for your company.
Think beyond the short-term. Staffing companies have to put in place cost-optimization initiatives across the recruitment value chain to weather the aftershocks of the pandemic. We must recalibrate our existing business models. The long-term success will depend on quickly capturing revitalized demand as soon as normalcy returns. It will require adjustments to the traditional business models. It will also need the readiness to embrace potential government interventions to enforce social contracts.
In the case of organizations, you will have to prepare yourself for the future. It would help if you built an adaptive and resilient digital spine by quickly deploying solutions. It will include video interviewing, chatbots, and robotic process automation. Your company needs to add advanced analytics, artificial intelligence, and machine learning to the mix. Doing so will increase the scope to gradually enter new business segments and adapt to evolving business models.
We at TRC Corporate Consulting, have full-service staffing solutions and provide one of the finest temporary staffing services in India. Our industry experience of several years makes us efficient in temporary staffing services and dealing with unexpected situations.
With unparalleled sourcing, recruiting, screening, and hiring, at TRC, we provide beneficial results. We have a nationwide network to meet and exceed your needs. Contact us if you have any queries!