Staffing Industry Seeing Signs of Improving Economy
In the staffing industry, the improving economy is reflected in the hiring patterns of our clients. Two years ago, at this time, we were seeing tighter budgets, consultants willing to cut rates to keep working, and drastic cuts in expenses. Moving through 2011, the economy is getting stronger and the staffing industry is seeing the changes.
Indicators that tell us the economy is improving:
Increase in the number of FTE placements. Clients are seeing stability in the economy and in their own organizations, giving them the confidence to convert temporary consultant positions into full-time employment. Additionally, resources that entered consulting during the downturn, to stay working, are now seeing more opportunities to move back into full-time employment.
Higher demand for remote work. One side-effect of the down economy was more consultants got a taste of remote work as clients were aggressively cutting overall expenses related to contract labor. They were able to test that work environment and liked it. At EDGE we are seeing more consultants seeking that kind of work assignment, including many of our more experienced consultants who have spent their careers in the banking industry.
Our clients are also seeing the benefit of remote workers – lower travel costs, increased productivity, and the ability to tap into talent that might be unavailable otherwise.
Increased competition for key talent. The best and the brightest are no longer on the bench, waiting for an assignment. They are working and companies must now compete for their skills and support. We are also seeing upward movement in rate cards to reflect the more competitive environment for consultants.
Five Things You Can Do to Succeed In This Environment
Be Prepared. As you see a need arising, call us. We can help you define the best resource to fit your specific situation. We can then move quickly to identify the best resource for the job.
Flexibility. It is the name of the game. As an employer, if you can find some flexibility in your rate and in the work relationship (i.e. remote vs. onsite or a combination of both), you will find more success in locking in the consultants you need and want.
Communication. From the beginning of the relationship with EDGE, stay in touch, tell us what is on your mind, what challenges you have on your plate, and what opportunities are on the horizon. By keeping the lines of communication open, we can line up the best consultants to support your organization.
Feedback. Also, give us feedback. When you interview an EDGE consultant, don’t forget to tell us how it went, what you liked and didn’t like about the consultant and what skills sets were key for you. If you have an EDGE consultant serving you, we also encourage you to keep us up-to-date on how it is going.
Be ready to make a decision. Because the consultant market is getting tighter, identified resources are not on the bench for long. By working with EDGE throughout your decision-making process, we can help you match your timelines with the best resources available.
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