Ever since the recession hit the global economy 8 years ago, many companies have become increasingly interested in hiring temporary workers.
But what is temp staffing? Let’s start with the basics. When a company wants to hire employees for a short duration of time, it is known as temp staffing.
And why do companies hire temporary employees? To meet the demands of an urgent short-term project or to take the place of those on vacation.
While there are many advantages of hiring temporary workers, it also gives rise to more questions. What about their payroll? Do they get the same benefits as permanent employees? And doesn’t this lead to more paperwork and administrative formalities when compared to hiring permanent employees?
While all of these are valid concerns, what if a company only had to bother about hiring these employees and everything else from the joining formalities to payroll to exit procedures was taken care of by someone else? This is exactly what Paysquare‘s temporary staffing services is all about.
Here is why choosing such a staffing service can be beneficial.
Advantages of Hiring Temporary Staffing Services
Temporary staffing services is not an added burden but it is actually quite opposite of that. These services let one reap the benefits of hiring temporary workers in India without worrying about the additional formalities associated with this process.
In today’s market scenario, demand is never stable. If companies hire enough permanent employees to meet the peak demand, most of them will not have any work during a lull. Instead, it is better to hire permanent staff to meet the minimum workload and hire temporary workers when there are more projects coming in.
With such fluctuating staffing needs, Paysquare services can be easily adapted to meet requirements. Also since every company is different with varying payroll processes, Paysquare offers customizable industry standard benefits services that are compliant with the company policies.
2. Cost Effective
A few questions linger on every employer’s mind about temp staffing. “How much does it cost to hire a temporary employee? Do temporary employees get benefits?”
Temporary workers are paid an hourly rate or a salary only for the duration that they work for. The benefits of temp staff are also kept on par with the permanent employees as this helps attract the temp talent.
Processing all these benefits and determining the pay for each of the temp staff is tedious and wearisome and will require to develop a separate department to deal with this. However, by outsourcing these services to temp staffing agencies like Paysquare, it will actually be cost-effective than doing it in-house.
3. Reduce Paperwork
Every time a temporary worker is hired and fired, there is a lot of documentation involved. This task is enough to pull the team’s focus away from the actual project.
By outsourcing the payroll management to agencies like Paysquare, the core activity of the company can be focused upon ensuring on-time delivery of better products or services.
And since the processes are outsourced to someone with over 17 years experience in dealing with payroll and temporary staffing services, who with the right technology and people work round the clock, the chances of any errors are minimised.
4. Compliance to Policies and Rules
Payroll processing requires you to follow certain rules and regulations. Not doing so can attract fines and lead to legal complications. Unlike permanent employees whose payroll is set from the beginning and only require minor updations from time to time, the payroll of temporary staff needs to be updated constantly.
Every time a temporary staff is hired or let go, the payroll processing needs to change. And all these changes need to comply with the company policy and with the rule and regulations in existence.
Paysquare’s expertise will ensure that all the rules are followed and all the policies are complied with and that the employees are registered under the ESIC and EPF schemes.
5. Detailed Reports
Reports are an important part of any business. They boil down vast amounts of data into a condensed form that can be analysed to make relevant decisions.
These reports can help businesses analyse whether hiring temporary workers was really profitable or is it time to make more permanent hiring decisions, what was the actual amount spent on temporary hires, were there any issues with non-compliance with rules, were employees retained etc.
They help the business make informed decisions about the future and Paysquare provides reports on all of these topics.
Make the Right Decision for Your Business Today!
At the end of the day, every business needs to evaluate its needs and make the right choice.
Paysquare helps clients place their staff on their payroll and completely administer the employee benefit plans for such staff.
Also, they manage the necessary statutory data for these employees on temporary services. Additionally, they provide industry standard benefits customized to client requirements to ensure parity in employee benefits between the company’s staff and the temp staff.