According to a report published by The Indian Statistical Institute, an average-sized IT company in India spends approximately USD 142,347 on keeping employees on the bench.1 Not only is this a staggering wastage of funds, but it also contributes to organizational inefficiency and employee frustration. Every decision has a long-term ripple effect in today’s highly competitive and volatile world. This is why start-ups and MNCs are beginning to realize the value of adopting innovative recruitment strategies to maximize efficiency and minimize costs.
Why Adopt the Talent-As-A-Service (TaaS) Model?
TaaS allows organizations to access high-quality skilled talent, on-demand. In other words, this recruitment system allows you to quickly match resources to your current requirements without having to keep bloated teams on your payroll. Here are some ways it could benefit your organization.
Bridge the Gap for Specialized Skills
TaaS takes the phrase ‘the right person for the right job’ to a new level. This model allows you to look beyond your existing workforce to find the right talent with relevant skills to match your requirements. For instance, instructional design recruiters can find highly experienced professionals with expertise in curating learning experiences using a plethora of tools from instructional technology and curriculum design to cognitive psychology and innovative evaluation techniques.
Enjoy Greater Flexibility in Hiring
Across industries, the pandemic has played a vital role in changing the nature of recruitment and employment. With growing economic uncertainties, companies must work wisely to stay ahead of the competition. Finding the right talent will not be a challenge in a perfect world where companies have unlimited networking capabilities, money, and time. However, in reality, most organizations have limited budgets, a fixed project start and delivery time, stringent client commitments, and rising overheads. In such a scenario, TaaS gives you access to contract talent who will help meet your business needs without becoming a burden in the long run.
Keep Costs and Risks at a Minimum
Instructional design recruiters that use the TaaS model can significantly cut costs over time. As a recruiter, you will only have to pay the gig worker for services rendered and will not have to cover paid time off, health insurance, and other related expenses. When you work with a professional firm that offers TaaS, you will find resources that fit the bill perfectly. Additionally, if you’re unhappy with the new hire, the termination or replacement process will be much simpler.
Enjoy a Stress-free Work Environment
Instructional design recruiters using the TaaS model can be confident that new hires will align entirely with the company’s vision and goals. During the matching process, excellent care and attention to detail ensure that the right resources are allotted to your team based on skills, experience, attitude, and other vital factors. Not only is every individual pre-screened and vetted in advance, but they enter your organization knowing precisely what is expected and what is to be delivered. Therefore, whether you need to clear a backlog of pending projects or launch a new one, your new hires will be ready to start from day one.
Focus on Core Business Goals Without Distractions
The TaaS model eliminates the need for hand-holding to a large degree. Instructional design recruiters can hire an experienced individual who has worked on several similar projects before. Not only will this save time and effort, but you are assured of a high-quality result without needing multiple reviews or revisions. Growing companies must focus on meeting core business objectives without micro-managing day-to-day deliverables. This is where TaaS plays a vital role, as it helps you roll out projects without disruptions or distractions.
Are you still wondering whether talent-as-a-service is a suitable model for your organization? The good news is that the modern workplace has made room for a blended model where you can adopt the full-time-employee business model along with TaaS. However, looking into the future, there is no doubt that Flexi-staffing models will only grow in popularity as its benefits far outweigh existing recruitment strategies. The new era demands maximum productivity with minimized labor costs. Enterprises of the future need to move with the times and make bold decisions to stay ahead of the pack.