In the company, “Flexi staffing” refers to the temporary hiring of workers for a set amount of time or until the project is finished. These workers may be contracted through agents or staffing advisory firms.
In India, the rate of staff augmentation is rising at a pace of 25–30% annually. HR Consultancy in Chennai, Bangalore, Mumbai, Delhi, and other major towns have started adopting this method. The payment structure of the company will be aided by many pieces of legislation passed by the Indian parliament, such as the wage code and the salary act. This would help encourage employees to engage in the flexible hiring model.
BENEFITS:
1. Free Of Restrictions
Because it is easy to permit them to go once the planned work is over, employers find it simpler to hire some employees as part of their flexible staffing idea.
This enables them to select the ideal candidate for the job while avoiding a legally binding scenario in which the personnel is treated as an employee of the business and consequently entitled to a number of benefits.
2. An Organization’s Growth
The fact that employers have started to notice the concept’s many benefits makes them happy to hire staff members. The company grows and develops as a result of happier workers who are more competent and focused at work.
3. Cuts Down On Unneeded Overtime
Employing workers just when necessary is a must-have idea if a company wishes to avoid wasting time on unnecessary overtime. Simply put, it helps in meeting the various demands of a company as needed. A business does not have to request that its permanent employees work overtime as a result.
4. Enhances The Company’s Position
This option provides you complete authority over your employees. Because the firm can increase its competitive position in the market, the competitors have a rigid labor structure that makes them vulnerable to economic lows and highs.
5. Saves Money
When a company decides to engage both full-time and part-time workers, it may easily convert fixed costs to variable costs by just paying for what is required at the time.
The enterprise also saves a lot of money that would have been spent on hiring and training permanent workers.
CURRENT TRENDS:
“FY2022 has been outstanding for the Flexi staffing market,” says Lohit Bhatia, President of the Indian Staffing Federation. The high increase in worker demand, up to 21.9%, demonstrates that both companies and employees are working hard to put the pandemic’s impact in the past and are moving forward to construct the future. There is increased optimism about India’s economic recovery, with worker demand exceeding pre-pandemic levels. Even as inflationary fears and geopolitical tensions loom, early indicators for FY2023 and industry preparations for the holiday season imply that hiring will stay high over the next three quarters.”
“The employment trends reveal an additional 2.27 lakh job seekers being added to the official workforce Y-o-Y,” says Suchita Dutta, Executive Director, Indian Staffing Federation. Demand for Flexi work has increased by more than 10% when compared to other types of employment. Women’s labor-force participation remained consistent at 27% over the last two fiscal years, contributing to the workforce despite the three Covid waves. Flexi working has a significant impact on the lives of Indian residents and their families year after year, providing a source of income and stability in the post-pandemic age. It is also encouraging to see that approximately 15% of the Flexi workforce is absorbed as permanent personnel by HR Consultancy in Chennai, Bangalore, Mumbai, Delhi, and Kolkata, to name a few. Many people use staffing as a stepping stone to permanent employment.
