INCREASE YOUR Productivity & Happy Employee Quotient

Leasing an employee simply means lending/supplying an employee to an organization to address their short-term business needs for skilled employees on a per-project basis.

In the practice of leasing an employee there is a binding agreement between a client firm and the leasing organization. As per this agreement, certain responsibilities are shared by the client firm and the leasing organization. The client firm will continue serving as the employees’ authorized employer and will control work performed for the company.The leasing organization will take up all responsibilities for assignments such as reporting wages and managing and registering employment taxes. The client firm pays the leasing organization a pre-agreed fee for the job, and the leasing organization manages administrative fees, payroll, employee benefits, and taxes.

If you are an organization looking to hire employees on a short-term basis to help on a specific project or as an addition to the team due to surge in workload, then temporary staffing services is the perfect solution for you as you are allowed to hire them on a contract basis and not permanently eliminating the overhead costs of hiring a permanent employee.

The key roles of a temporary staffing agency include sourcing and recruiting candidates, matching candidates with job openings, and screening and evaluating candidates.

The fees charged by recruitment agencies for temporary staffing can vary depending on several factors, such as the agency's location, the type of positions being filled, the duration of the assignment, and the level of specialization required. Typically, the agency charges a markup or commission on the hourly rate or salary of the temporary employee, which can range from 15% to 50%.

Typically, an executive search can take anywhere between 6- 8 weeks. After shortlisting the potential candidates and presenting them to the hiring client, final interviews are conducted with each one of them, before selecting the executive.

This last step of selecting the executive happens within 7- 12 weeks of the process. The length of the executive search recruitment process depends on several criteria, like the rarity of the candidate profile, the hiring company’s decision-making time etc.

• Access to a wide network of executive-level candidates.
• Well-practised understanding of the rare skills needed for a C-suite position and the ability to find the same.
• Presence of a wide range of resources.
• A diverse range of candidates are made available.
• Maintains confidentiality.
• In case of unexpected resignations, Executive search firms prove to be most reliable in helping you find your next fit.

Some of the major differences are-

• Executive search firms especially focus on hiring for senior-level (C-suite, VP, and Director) roles and positions that require a special skill. Recruitment agencies are typically known for hiring for more generic positions where a candidate with the necessary skills and qualifications can fill the job position.
• Executive search consultant source passive candidates- Candidates who aren’t looking for a job; while recruitment agencies target active candidates- ones who are actively looking for a job or a job change.
• Payment terms are different- An executive search firm charges 30-35% of the annual salary of the placed candidate, and the payment is made upfront through instalments. Recruitment agencies typically charge a small amount of fee only on the successful placement of the candidate.

• Recruiters normally concentrate on finding people for junior positions that go up-to mid-level management. Executive search firms, on the other hand, focus on drawing highly skilled and qualified senior managers to fill key roles within a business.

The seven key functions of HR are as follows:

• Recruitment and selection
• Learning and development
• Performance management
• Compensation and benefits
• Succession planning
• HR data and analytics
• Human Resources Information Systems

HR service management aids a firms HR department in handling work requests and enhances service delivery. It takes the phone, manual email, and in-person HR practices of the past and transforms them into a task-driven and workflow process.

There are seven steps to follow to successfully implement an RPO service-

·        Prepping for the ideal candidate

·        Sourcing and attracting talent.

·        Converting applicants

·        Selecting and screening candidates

·        Carrying out the interview process

·        Performing background checks of the candidates

·        On boarding

The three major types of staffing are as follows:

• Contract employment/ short-term staffing
• Contract-to-hire staffing
• Direct placement staffing

An employee leasing company offers businesses employees on a short-term basis to work at their organization to fulfill certain requirements necessary to complete the project at hand. As the employee leasing organization will take up all HR-related tasks and responsibilities, such as reporting wages and managing and registering employment taxes.

As our client, you need to pay a certain fee for the job of leasing an employee at your organization and take care of their payroll, employee benefits, and taxes.

Employee leasing or staff augmentation lets businesses attract and hold on to talented employees, and access improved services such as complete risk management, employee training & development, and insurance benefits.

Both follow the same rules with a very slight difference. Temporary workers will be considered as your employees or of a temporary agency. Contract workers are only outside personnel who are hired to perform a job or task but are not your employees – they are usually independent and are in business for themselves.

Here are some of the key benefits of hiring temporary staff:

• Reduced long-term labour cost
• Shorter hiring process
• Instant impact
• Fresh perspectives
• Highly skilled employees with niche experience
• Flexibility

Temp agencies work by sourcing and recruiting temporary employees, matching them with job openings at client companies, and facilitating the placement. They handle the administrative tasks related to employment, such as payroll, taxes, and benefits.

To hire the best executive search firm, you need to consider certain areas:

• Ability in the industry- Should have deep knowledge about key leadership positions- responsibilities of these roles and a good eye to recognise qualified executive talent.
• Should have a proven track record of representing companies with discretion and professionalism.
• Need to have an exceptional search team, with a foolproof search strategy that can identify and recruit the best talent for your organization.
• A firm that understands the importance of your business needs and works towards finding a candidate who is tailor-made to fit your organizational structure.
• Maintains complete transparency throughout the process.
• Proven commitment towards the hiring clients.

Typically, executive search firms charge around 30-35% of the annual salary of the candidate hired. Most firms allow payments to be made in three installments. The first installment is usually paid when the search for the executive begins.

Executive recruitment is the practice of finding applicants for senior-level positions. Firms who recruit often function within a certain sector and are tasked with obtaining hard-to-find or market leading talent.

Also classified as headhunting, this type of recruitment is usually known for its preemptive methodology and does not exclusively depend on conventional ways of finding candidates.

HR services include all the functions that support and offer services to employees. The HR service solution often extends over the whole employee lifecycle from appointment to retirement, such as onboarding, payroll, benefits and more. Maintaining records, evaluating employees, assessing policies, executing procedures, carrying out interviews, overseeing performance, creating compensation plans, retaining employees, or boosting employee morale are all part of the complete range of HR services.

HR Service Delivery stands for how a companies HR division chooses to serve and work together with employees. Whether it is managing employee requests, observing any indicators of disengagement, assisting employees with paperwork, or preserving a work culture beneficial to growth, the HR division presents a wide array of services. Conventionally, most companies follow a system where employees can walk up to the HR manager and settle their grievances and queries. However, with the evolving workplace, several other HR service delivery models have emerged.

Human resource intelligent service management systems have significantly transformed how HR services are delivered and handled by businesses. If used properly, intelligent service management can make HR staff more effective, better informed and more capable to convey how they add value to the business.