Temp Staffing in Mumbai
In today’s competitive era, it is not advisable for organizations to maintain a large number of employees on the bench. While it may seem practical to be prepared for any upcoming new or large projects from clients, the costs and efforts required to maintain this bench workforce is too high. Additionally, employees these days are not satisfied with salaries alone. They seek satisfaction in their work. If they are on the bench for too long, they may eventually leave the organization in favor of one that actually has relevant work for them.
This is why it is highly recommended that companies opt for temporary staffing agencies and fulfill their staffing needs as and when the clients have a new project for them to work on.
What is temp staffing?
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.
When 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.
Why Temporary Staffing/Contract Staffing Services is best?
When you compare the cost of recruiting new employees and the amount of efforts required to complete the process, with the ease of meeting your staffing needs by utilizing the services of a temporary staffing agency, you can see the latter’s benefits far outweigh the former. At the same time, the organization does not have to worry about not getting employees that match the job responsibilities. So it makes for an easier and more convenient choice of the two.
These temporary staffing companies are liable to take care of the standard contractual procedures of managing payroll and benefits administration of such temporary employees. This includes responsibilities such as registering employees under ESIC and EPF schemes.
Advantages of Temporary Staffing/Contract Staffing
Organizations can be assured of many benefits by tying with temporary staffing agencies:
- Maintain flexible employee contracts
- Reduce administrative overheads
- Avoid cost of providing benefits to temporary employees
Why Paysquare for Temporary Staffing/Contract Staffing Services?
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.
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.
This 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 agency
- The CTC break up is shared with the candidate and an offer letter is issued
- Onboarding process involves collecting document, checking for references and issuing an appointment letter
- Actual employment is initiated wherein payroll, statutory compliances and leaves are managed by the temporary staffing agency
- At 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.
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.