ABOUT THE CLIENT:
RapidHiring® is the current trend in the recruitment world as the attraction of permanent jobs fades out. Nasscom reported that the IT and ITeS is spearheading the movement by having 12 out of every 100 employees as gig workers. With around 81% of organizations already batting for hybrid workspaces, the trend is touted to be the future of the corporate world. Taking the cue, the other sectors in the country must join the league and start adopting the RapidHiring® model rather sooner. And here are the ‘whys’ of taking on the practice:
Gone are the days when keeping a watchful eye on your employees meant higher productivity and their allegiance to the organization. The old practice took top management only this far. And those who let liberty rule their work culture have not only survived the recessions and lockdowns but also managed to fly high in shrinking pockets.
Better performing teams
Every person in the world has a unique productivity cycle. If forced to work out of it, their efficiency crumbles. With a diverse workforce hired from across the world, top management gets a team that performs better than the competitors that rely on a no-diversity policy or are geocentric while hiring talent. A 2019 study revealed that organizations with a diverse workforce possess better-performing teams. It will result in enhanced productivity, better engagement, and higher morale, thereby leading to greater output for the companies.
Increasing retention rate
Creating a mix of permanent employees and gig workers allows the companies to build a buffer for layoff times. So the permanent employees feel secure during such periods, thereby remaining loyal to the organization. This in turn, increases the retention rate of the companies.
Positive interpersonal relations
As reported by Nasscom, employees value those perks more which are low-cost to their employers. Such perks include flexible work timing, remote working, and more vacation time. And around 80% of the workforce choose flexible hours over other benefits and pledge their loyalty to the employer. Thus, the top management, in turn, values the employees who think about their benefits, a rarity in today’s messed up employee-employer relationships. Happier and committed gig workers mean better results even without incurring costs on employee incentives.
Dynamism
The pandemic has taught us the need for adapting quickly to external business factors and the RapidHiring® model can prove to be an important tool in making it a reality for all business verticals. Businesses with staffing peaks benefit from RapidHiring® by employing a gig worker for the short-term project in hand. Quickly scaling & descaling as per the changing times is the key to being efficient and cost-effective.
The RapidHiring® model is picking up pace in the Indian market, especially after the pandemic. Companies adopting this model aim to reduce their operational costs while accelerating talent deployment for short-term projects. This helps them secure an adequate workforce as per the need.
Top talent recruitment
Organizations that haven’t yet adopted RapidHiring® find it difficult to hire talent for 9-5 jobs since more and more job seekers are moving towards flexible work schedules. With this shift in the preferences of job seekers, companies can find top-of-the-top talent for open job positions in the gig market. There are no limitations while recruiting the right person for the right job from around the world. Top management can take the company to the next level by recruiting the best talent when adopting flexible work arrangements.
Cost savings
RapidHiring® has resulted in cost savings for the top management of companies. With remote freelance staff and virtual offices, they can save the operational costs of running the business. Companies no longer have to spend money on fixed salaries, training, insurance, office rent, employee equipment, etc. And the savings do not end here. A study in 2017 reported that gig workers are ready to take up to 8% less than the average salary if the company offers them flexible work timings. All these saved funds can be used for expansion and other business plans.
RapidHiring® and the flexible work culture are beneficial both for the gig workers and the top management. Such flexibility instills a sense of control in the employees, leading to a morale boost. For companies, along with saving costs, such flexibility results in lesser unproductive working hours, thereby making the organizations efficient and effective to leave their legacy!
Bengaluru, India 
