In the Sydney Accounting market, a lot of organisations use a combination of permanent and temporary staff. Whilst this type of approach enables businesses to facilitate seasonal peaks and troughs and plan their hiring accordingly, it can sometimes be difficult to identify whether temporary or permanent recruitment is the best option. In most cases, it depends on the situation. Here we discuss the pros and cons of each to help you choose the solution that best fits your needs.
When there is a fluctuating volume of work, temporary resources can often be the best solution. Whether it’s to support extended employee absences, unexpected demands, special projects or employee shortages, they can provide your business with the qualified staff it needs in periods of high demand.
Hiring temporary workers on a temp-to-perm basis can be an effective and cost-efficient way to make sure that someone is great at their job and a good fit for the company, before making an offer of permanent employment. For whatever reason, if it doesn’t quite work out then it’s much easier to find a replacement from your Recruitment Agency, if required, compared to other solutions.
If you need help right away, a temp can be a great asset. By working alongside a specialist Recruitment Agency, all you need to do is pick up the phone and brief them on your requirements. It’s up to the agency to find and vet staff and they usually have a pool of experienced Accounting professionals readily available at any given time.
Should you require specific expertise for one-off projects/requirements, using a contingent workforce means gaining access to specialised skill sets and experience for only the time they are needed.
Like any other hire, a certain amount of training and guidance is still required to get a temporary worker up to speed and integrated into the company. No matter how experienced they are, there will always be an investment of time and personnel to get the most out of them.
This can be minimised by hiring the same temporary workers each time, but as they might not be available when you require them, this isn’t always possible.
When employing temporary staff, there can sometimes be a trade-off between hiring someone who can hit the ground running or someone with an ideal cultural fit. To avoid any issues relating to culture fit and the impact to the normal team dynamic, it’s key to get the whole team on board to help create a positive, welcoming atmosphere. Where possible, do everything you can to integrate temporary workers into the team by ensuring that they’re briefed on any practical points and office rules.
The very nature of short-term assignments (perceived or otherwise) means it can be difficult to keep a temporary worker as motivated as a full-time employee, usually because they think they’re not there for the long term. This is really on a case-by-case basis, but perhaps the greatest motivation is the potential to secure a full-time position!
Knowing that your tenure in a business doesn't have an end date usually creates a level of comfort that can’t be gained from the feeling in the back of your mind that your stay could be short. A permanent member of staff has job security, long-term prospects and financial stability, so inevitably these factors may encourage them to feel more motivated to perform and contribute to the success of the company.
Those who come and go are far less likely to have the time to fully immerse themselves in the company culture. Over time, permanent employees typically experience heightened loyalty to the business and their colleagues, helping to retain your most valued staff.
With permanent staff, the option to invest in training and progressing them is far more viable. These are members of the team who can advance through their department hierarchy, take on future leadership positions and form a key part of business growth.
Finding the right talent for your workforce is a time-consuming and costly endeavour. Diverting the time and resources that are required to advertise open positions, screen candidates and conduct interviews, can stall projects and reduce productivity. This is where a specialist recruitment agency can help, so you can focus on what’s really important.
A lot of the time, the best Accounting talent will be in permanent employment already. This means that more often than not, employers will need to wait for new employees to work out their notice period before they can officially join the team. This can result in understaffing in the short term and put greater strain on the team, potentially impacting productivity.
Permanent members of staff are employed under a legal contract that both parties have agreed upon. With legislation, terms and conditions, and notice periods to take into consideration, it’s far more complex to make personnel changes than it is with temporary workers!
The reality is that when looking at temp versus perm recruitment, both have varying degrees of benefits and challenges. As such, whether you choose a temporary or permanent employee to fill your vacancy, or a combination of both, defining your company's needs is the first step in successfully creating and managing an effective workforce.
For more advice or help with your hiring needs in the Sydney Accounting market, get in touch with the team.