Workforce Business Solutions Providers offer companies more options and resources around the hiring process and can provide creative financing with special contract structures that fit the business’s needs. With Workforce Business Solutions, organizations can create an understanding of the industry they are recruiting for and develop specific strategies to tap into the most qualified candidates. This process also involves developing interviewing techniques to ensure that only experienced professionals are hired. Additionally, Workforce Business Solutions Providers can assist with analysis of the job market and offer solutions on how to best fill an open position.
In comparison, staffing agencies tend to focus more on filling positions quickly as opposed to finding the most qualified person for a certain position. They often work with large numbers of candidates in order to identify people who could potentially fit a certain job description.
ASA estimates that a typical hire for a mid-range employee costs a company between $8,000 to $10,000 per hire. Many companies are coming to the realization that with that type of investment, it makes sense to find the right person.
Partnering with most Workforce Business Solutions Providers reduces the risk of a bad hire because they will replace a candidate that doesn’t work out for whatever the reason within the contract time frame. This is known as a contract to hire. Companies like TLX Talent Logistix have a program that the hours follow the contract and not the worker so that the company only has to fulfill the remaining hours in the contract if an employee leaves early for any reason.
The use of Workforce Business Solutions Providers will continue to accelerate as companies are growing more aware of the cost associated with a bad hire and the industry trends in recruiting. Companies are looking for ways to better manage their costs when hiring, and utilize tools such as contingent labor, contract workers, and contract-to-hire programs.
Wondering how you can minimize turnover? Check out our 5 key strategies HERE.