As business is slowly ticking upwards we are noticing a common theme amongst our clients. Their teams are overstretched.
Either due to making staff reductions at the start of the year or an unprecedented boost in business demand, those businesses who are hiring are most likely doing so because their teams cannot cope with a further increase in workload.
Our recent Linkedin survey highlighted 55% of respondents are feeling overwhelmed in the workplace due to a lack of staff within their organisation, demonstrating that not all businesses are looking to hire despite their teams being under pressure.
We understand that a vast majority of businesses are looking to protect their finances as much as possible right now, which may push recruitment towards the back of your mind. But what if we told you it should be at the front?
What an overwhelmed team means for your business
Assigning additional responsibilities to team members can be useful for upskilling junior and mid-level employees, if managed correctly it can create an environment of increased collaboration and learning, positioning organisations as a positive place to work and boosting employer brand.
However the danger comes when teams are spread too thinly. If teams are working on multiple projects simultaneously, a shock or failure to one element of that project could result in other projects being pushed aside to put out fires. This could push back deadlines, add pressure on other team players who rely on that individual and ultimately damage your business during the long-run.
Should I hire new employees?
If managed correctly a lean staff model which encourages multi-teaming can have benefits for an organisation, specifically around skill development and organisational culture, however in every organisation there comes a point when this is no longer possible without running teams into the ground.
For those businesses who are nearing or bypassed this point, hiring need not be a clear cut yes or no. In reality there are numerous recruitment options available for businesses which Pitch can support with.
To understand your options, it may be worth reading our blog on “Perm, Temp or Freelance: Your options for hiring in todays market”. But how many each option suit your business?
Hiring a permanent team member is likely to suit those organisations who expect to have a healthy and profitable business model for the foreseeable future. Though highly relevant to those businesses looking to expand their teams, we advise hiring stakeholders to take this into consideration if a role needs to be replaced.
Examining whether a role is necessary and if it is a financial commitment which can be committed to is a good way to ensure you don’t waste time hiring only to let the new employees go within a short-period. Engaging in this practice ensures you don’t waste time and money foremost, however it ensures your employer brand is protected longer-term.
Fixed Term Contract (FTC)
If you decide hiring a permanent member of staff is not viable for you right now, depending on the role it may be worth considering a temporary employee on a FTC. This enables you to hire an employee into your organisation, completing the daily duties of the role like a normal employee. The benefit to the organisation being that it is a short-term solution but you can maintain some form of consistency through having the same individual on a daily basis.
Hiring on a temporary basis may be a wise financial decision for companies who can’t anticipate a highly profitable future, however it is also a viable solution for those businesses who need to fill a gap whilst they search for a more permanent solution. This may apply to businesses who are potentially looking to fill a hard to find skillset, which may take a longer period to resource and hire for.
If you find that financial situations improve or you discover the temporary employee to be the perfect fit, there is nothing stopping you from extending the contract or taking them on permanently.
The freelance option won’t be for everyone, however if you are in a position where you need a project such as a digital transformation completing or a new website/product launch, taking on a freelancer can sometimes be more efficient than outsourcing.
Though they come with higher rates, they are considered specialists in their field and by taking them onboard you can rest easy knowing your project will be completed to the highest standard. Furthermore because they are embedded within your organisation they approach projects with your businesses value and culture at heart.
Freelancers offer the highest level of flexibility over the above options. You can hire just for a day or book them out for a couple of weeks, it really is up to you. If you find the project is completed early or an impassable road block appears, you are not held to a contract of employment, meaning you will be able to let them go early without ramifications.
We recognise not all businesses are looking to hire right now, however we want to ensure we have as many options available to businesses as possible. For more information about how recruiting through Pitch may benefit your organisation reach out to one of our consultants today.