SAGEWORKS PREDICTION: THE FUTURE LOOKS BRIGHT FOR TEMPORARY WORKERS.
“Right now, when companies are hiring, 30% of them are temps.” Says Brian Hamilton, CEO of Sageworks – a company that brands itself as the “Leader in the Financial Analysis of Privately Held Companies.” In his recent interview with Fox Business, he discusses the newly acquired statistics for June in terms of employment. The numbers say that out of 80,000 people hired last month, 25,000 of them were temporary workers.
What is the reason behind these figures?
As the economy is unpredictable these days, companies are building strategies and plans on a shorter leash. Instead of creating 2-year plans, forecasting has now been decreased to where they will be 6 to 12 months from now. They are uncertain of the stability of their establishment, and this anxiety has translated in a high demand for temporary workers. Even if they are more expensive (they don’t have to be) to contract, the addition of temps does not create a dent in their permanent overhead rate – which is a bigger concern for most companies.
Another factor is evolution. With the ever – changing effects that technological breakthroughs produce, a lot of companies are struggling to innovate to keep up. Their trial goods and services create vacancies that most entrepreneurs feel safer to fill with temporary workers. A good example of this would be tech companies who risk launching new products into the market, retail lines who are now trying to fulfill orders worldwide, and service companies who are expanding their L.O.B.s. By opting for temps, they have a better grasp at what their trial phase will cost them, and would have less apprehension should the attempt go sour.
Should Temps be Weary that These Companies are in Danger of Closing Down?
There is no cause for alarm. As Brian states, majority of their clients are still showing positive growth despite the economic trend. It may be that companies are opting to play it safe. And even if the case is such, there are 27 million business owners out there who have seats to fill in at one time or the other.
Temporary Workers Should Be Looking Ahead.
As the demand is clearly there, temps should be optimistic about the future. This means that there will be temp jobs available should the current jobs they have end.
The Difference Between a Permanent Position and a Temp Position is Just a State of Mind. Temps have the upper hand when it comes to planning out their career path. As temp jobs have set ending dates upon signing, workers have the ability to seek employment in anticipation of the loss. It makes it highly possible then for the individual to have no episodes of unemployment. This is one of the more evident advantages temps have over permanent hires who worry about job security each time their employer’s growth figures take a dive. They snoop around and secretly attend interviews elsewhere, while temps can openly seek other job opportunities. Temp workers are also often rehired after their job expires, either as a full time employee or as a consultant.
The only question you have to ask yourself is, “why aren’t you temping yet?”
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