Why hiring contractors is an effective talent solution

Hiring contractors is becoming increasingly popular for companies, regardless of size or industry, looking to fill specific skill sets within a tight timeframe. 

Similarly, and as a reflection of this greater demand and ever-evolving need from organisations, the number of contract professionals has increased significantly over the last decade too.

With a plethora of skills available at the drop of a hat, hiring contractors can help businesses quickly adapt and be prepared for the ever-changing market conditions. 

So, when it comes to your hiring strategies and growth plans, could hiring contractors be the answer to some of the questions you have surrounding talent in your business? 

Here are 4 reasons why hiring contractors is an effective talent solution:

There’s less risk involved

It’s fairly common for companies and hiring managers to rush through the process and bring someone into their team to alleviate the pressure that comes with having an unfilled position.

Making hasty decisions, overlooking red flags and looking beyond potential shortcomings can all become the norm if hiring managers feel rushed to fill a vacancy.

Likewise, we know that taking on new permanent hires is costly, and it is an expensive mistake to make if they turn out to not be the right fit for your business. 

However, by hiring a contractor, you have that employee for a set period only. Should they not fit, then letting them go at the end of the contract is simpler than letting go of a permanent hire. Should they be perfect for your company, then you can extend their contract easily or even offer them a permanent position. 

Additionally, with the economy looking uncertain at the moment, cutting back your contractors to save money is considerably less painful than making your employees redundant. 

Shorter time to hire

Often, lots of time and resources go into making a permanent hire. From advertising the role to training the employee it can take months; especially if you include the average 4-week notice period (which can sometimes be longer). 

When taking on a contractor you can search a talent pool that’s ready to go (or approaching the end of another contract) and on which provides the specific skills you need to meet the needs of your team.

Access a larger talent pool

Since the pandemic, many more workers are recognising the professional, financial and lifestyle benefits that can be gained from contract and freelance work. 

By accepting contractors, you are broadening the talent pool to include skilled workers that could be overlooked by the classic 9 to 5 schedule; ultimately helping businesses access skills and experience that are difficult to source through traditional hiring. 

Additionally, contractors are often very good at networking to guarantee they find their next role, which means they can benefit your business by utilising that network should they know someone perfect for your next opening. 

Help bridge the project gap

Specialist contractors can prove vital if you need to fill a temporary talent gap (such as maternity cover) or have a requirement that needs filling in the short-term in order to complete a one-off project.

Bringing in contract professionals to plug any gaps or provide additional support to manage increased workflow, means that businesses are able to carry on as usual in a cost-effective way without overstretching their teams or reducing their productivity levels.

Companies globally are reaping the rewards of utilising the skills contract professionals bring and as well as the agile and quick nature of the hiring process.

Whichever way you look at it, contractors are a crucial part of any workforce, especially in particular the digital and technology sectors. They bring with them huge positives to businesses, and these 4 reasons for you to consider them as part of your hiring strategy, only scratches the surface of the benefits they could bring to your company.

If this article has convinced you, check out our contract roles here.