As businesses adjust to the new normal and begin to focus on regrowing what was lost during the pandemic, they have been hesitant to staff up with full-time executives. This is where project-based hiring, also referred to as temporary or contingency hiring, can help.
The concept is simple: you hire talent on a per-project basis with an agreement that the business relationship will last only until the project has been completed, unless, of course, you wish to extend it. This allows companies to complete key projects on time without incurring extensive (and expensive) recruitment, onboarding, and training expenses.
A significant portion of the modern American workforce is composed of highly talented freelance consultants, contractors, and workers with specialized skills. In fact, according to a report by Deloitte, 33% of the American workforce is contingency based, and this figure is expected to spike during the beginning of the economic recovery as well as exponentially over the next twenty years.
Thanks to innovative technological tools such as advanced digital project management platforms and instant communication software, contingent workforce management has made working with project management workers much more effective. While a business still needs conventional full-time employees to carry out the organization’s core mission, hiring talent on a project-by-project basis makes sense when workloads fluctuate.
Here are three business benefits of project-based hires:
For companies that have projects that require a specific set of skills, project hires allow you to match the project with the skillset required to complete it without bringing on someone full time. In addition, companies compensate the team member only for the work they do on the specific project they’re hired for. In other words, the only money spent is on quantifiable, project-based work.
Finding, hiring, and training new employees not only costs you financially, but it also requires a significant amount of time, potentially delaying the completion of your project until the new employee can get up to speed. However, when you hire a staffing firm like Brookwoods Group, you get a right-fit, seasoned professional who has the right skillset to hit the ground running.
When you choose our project management solution, we’ll use our own processes and resources to ensure that you get the right professional who will show up on time, be a good fit for your team chemistry, and complete the project within the deadline and budget.
Brookwoods Group is a recruiting and staffing firm that’s known for its perfect-fit recruiting solutions for companies of all sizes. Our team can help you fill any executive position, from officers and management to marketing and communications professionals. Our six-step process ensures the best cultural fit for any candidate we place.