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Overview Of Temp Staffing
At one point of time, major Indian tech companies maintained a ‘bench’ in anticipation of large projects from their clients. That time is slowly coming to an end. These bench employees continued to receive their salary on a regular basis and yet they do not have any work. Today’s generation looks beyond salary, so this may not be the ideal situation for them. For companies, it is too big a cost to incur especially when it is prudent to manage your expenses more carefully.
Companies these days are now opting to hire employees on a contractual basis and thus eliminating a lot of administrative overheads and costs. Another option is to tie up with reliable temporary staffing agencies and meet staffing needs more efficiently.
Advantages of Temp Staffing
Organizations can be assured of many benefits by tying with temporary staffing agencies
Contracts of temporary employees are flexible
Administrative overhead costs are reduced or eliminated
HR benefits are taken care of by the staffing agency.
Why Temp Staffing Is Best
Recruitment and selection of new employees is a lengthy and expensive affair. When organizations have the easy option of tying up with temporary staffing companies to meet their staffing needs, it is best to go for it. These agencies make sure that they manage temporary employees who are best suited for the demands of these organizations. Plus, the entire process does not take a lot of time as compared to recruiting and hiring employees on a permanent basis.
It is the responsibility of the staffing agency now to manage all standard contractual procedures of recruiting employees including managing their payroll and personnel administration management of temporary employees. Other aspects such as registering employees under ESIC and EPF schemes are also covered by the staffing agency.
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Why Paysquare
Paysquare is a professional staffing services firm that has over 17 years of experience in the field of payroll domain. Companies can outsource their demands to us and we provide them with the required number of employees on our payroll. Our employment terms are quite flexible and can be customized as per the needs of the organization. We take up the entire ownership of handling all HR formalities so that you don’t have to. An added advantage is that with our HR benefits, temporary employees gain almost the same benefits as permanent employees. It has proven to be an attractive option for these employees as well.
Frequently Asked Questions
Staffing service is defined as a service provided by an agency (staffing agency) wherein the staffing agency manages the employees hired by the client company and then deploys them to the client company. The client company does not have to go through the hassles of managing all the payroll and related HR benefits for these temporary employees.
Companies need to maintain optimal staffing levels depending upon the change in the number of projects they handle. For example, if there is a sudden demand for more employees to work on a project, then these temporary employees can be quickly supplemented to that project without wasting the time and efforts on recruitment.rnrnThis way staffing costs are reduced and current set of permanent employees need not be overworked to meet the demands of such projects. Also a long term view of the requirement of such resources may not be available, so it is best to hire them on contract terms.
It differs from company to company. A majority of these companies do not provide benefits to temporary employees. It is also a challenge for them since the tenure of temporary employees may not be fixed and also need to be downsized when in case of an economic downturn. Financial implications of such changes can be quite high. When the staffing company like Paysquare manages these temporary employees, the benefits are managed by Paysquare.
The organization submits the requirement for number of employees to the temporary staffing agencyrnThe CTC break up is shared with the candidate and an offer letter is issuedrnOnboarding process involves collecting document, checking for references and issuing an appointment letterrnActual employment is initiated wherein payroll, statutory compliances and leaves are managed by the temporary staffing agencyrnAt the time of completion, the exit process is handled by the agency that involves handover of tasks, full and final calculations and finally providing the relieving letter.
Contract staffing or temporary staffing is a term that stands for an outsourcing agency that manages temporary employees for an organization. These employees continue to work in the organization as a normal (permanent) employee but they are on the payroll of the temp staffing company, unlike a permanent employees. Other compliances and HR benefits are also managed by this staffing agency on behalf of the organization.rnrnWhen organizations outsource their staffing needs to such temporary staffing agencies, they do not have to worry about managing the administrative overheads of these temporary employees. They can completely focus on leveraging their core strengths and determine ways to best meet their goals and objectives.
This depends on the temporary staffing agency’s contract with the client. If the number of employees is high then the percentage can be slightly lower. This percentage varies according to the location and other factors such as employee seniority or skill set.
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