A survey conducted of CEOs from the fastest growing private companies found that 62 percent believe finding and retaining good staff is the largest obstacle to growth, while 40 percent believe recruiting talent is the biggest way to stay innovative. When it comes time to hire for an open position, there are many factors to consider. Deciding whether to hire for a permanent placement or contract position depends on the nature of the job in question. It also depends upon which goals your team needs to fulfill. Temporary contractors may be a cost-effective way to replace employees who are out on maternity leave, vacation or sabbatical. However, permanent placements have several benefits of their own.
If your company is in need of someone to fill a role long-term, there are several important ways that a permanent placement can benefit your team.
Here are some of my insights into how a permanent hire can benefit your team:
1. Increase Employee Loyalty
Though contract positions, or temporary job placements, require a temporary hire, hiring an employee for a permanent position is advantageous when it comes to employee loyalty. The decision to hire an employee permanently signals to them that the company is committed to their decision, which in turn contributes to the employee’s sense of belonging to the company. By virtue of time, employees hired for permanent placements will grow closer to their peers. They are also more likely to participate in company activities and remain with the company long-term. Loyalty leads to longevity and a higher employee retention rate.
2. Team Member Career Advancement
While contractors for temporary job placements are generally hired for a set period of time based on a specific project or skill set, permanent employees who are with the company for the long haul present the opportunity for training and career development, which in turn helps the company itself grow. Your team will benefit from additional training and many will appreciate the opportunity for career advancement.
3. Curate An Enriched Culture
A sense of camaraderie among the team members of your company attracts and retains the best talent. Happy employees tend to spread the word about their enjoyable workplace. When candidates are offered permanent placements they have the opportunity to develop long-term friendships with coworkers. These strong bonds contribute to the team functioning better as a whole.
Need Help Building Your Team?
If your team is looking to recruit top talent for a permanent placement, a contract position, or temporary job placement, contact me or any of my teammates at Pinnacle: https://paf-resources.com/contact-us.