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contract staffing

Contract Staffing: The Benefits for Employers and Job Seekers

2019 was very much a candidate-driven market, and it’s no surprise that this remains true as we enter the new year. The unemployment rate is the lowest it’s been in 50 years, there are more job openings than there are people to fill them and, if you’re like most hiring managers today, you’ve felt the frustration and stress this can add to the workplace. While permanent, full-time roles are a majority of the job openings today, contract staffing can bring so many benefits to both job seekers and your teams. Here are some of those benefits and how your organization can capitalize on them in 2020.

Benefits to the client

Quick hiring process

If you’re looking to fill a position immediately, contract staffing is the way to go! Time to fill ratios for these positions is substantially lower than permanent roles. According to HireVue, the average time to fill a permanent position is 42 days. This is a huge problem because candidates are only on the job market for 17 days, so chances are you’re missing out on great talent!

“Try before you buy”

Hiring a contract worker is a great way to ensure the candidate has the right skill-set and fits well with your company culture. If the candidate isn’t working out, you can end the contract, or if they’re a great asset to the team, you can convert them into a permanent employee!

Cheaper than hiring a full-time employee (FTE)

As most employers are aware, employees are the most expensive asset to organizations with the highest risk. By hiring a contract worker, you reduce your costs associated with vacant positions, as well as the costs related to onboarding a permanent, full-time employee.

Staffing flexibility for projects and overflow

Hiring a contractor for a short-term project is a great way to get the work you need to be accomplished while not having to worry about headcount once the project is over. If you need workers with a unique skill-set or knowledge, this is a great way to tap that resource without having to invest in a full-time hire.

Benefits to the contractor

Contract workers can be a tremendous asset for your organization; however, contract assignments also benefit you as a job seeker. Here are a few reasons why a contract assignment is attractive to job seekers as well.

Quick hiring process

Yes, this is also a benefit to the temp employee. If you need a job immediately, contract positions are the way to go. You can typically start working as soon as you complete all necessary onboarding procedures. Essentially, you get to jump right into your next opportunity!

Try something new

This is an excellent way for a worker to see if the organization is a fit for them. In my experience, if candidates go in and do a great job for the organization they’re working for, they’ll often keep them on-board and convert them into FTE.

Adds diversity to your skill-set

Permanent positions, while great for the long-term, can hinder skill-set if you’re not continually taking on new challenges or responsibilities. Contract jobs are a great way to expand your skill-set and get exposure to other areas in the workforce. These skills can be great resume boosters and help make you a more valuable employee in the future.

Fills your income gap while searching for FT position

A contract job is a great way to earn income while you search for a full-time job. Searching for a full-time position can be a daunting task and usually takes much longer to get through the interviewing and onboarding process.

Want to discuss the possibility of contract staffing?

This isn’t an all-inclusive list for all of the benefits contract jobs have to offer. If you’re currently in need of a contract employee, contract job, or just would like to discuss the additional benefits of contract staffing, I can help! I have added contract employees to numerous banks and credit unions in the Pacific Northwest; I would love the opportunity to partner with more organizations and make an impact in 2020.

improve your hiring process

Improve Your Hiring Process: Time Comes with A Price Tag

I couldn’t even imagine sitting in an office trying to juggle a million other tasks as a human resource manager or hiring manager, all while recruiting on critical roles at the same time. Recruiting takes time, lots of time, and pockets full of patience. It is certainly not an easy job, nor for those of the ‘faint of heart.’ The resumes, the people, the falling, and most of all, the getting back up.

Here at Johnson Search Group, we care about both our clients and candidates. Finding that perfect fit for you and your team is at the forefront of our mind as many of the positions we fill are critical to our clients. These roles, if left unfilled, often cost our clients a great deal of money. And besides the cost of vacancies, your current employees are probably working longer hours during the holiday season, and thus, are spending valuable time away from their loved ones.

Cost of vacancies can start to add up

This is why partnering with a recruiter makes sense. In the long run, it’s actually easier on the pocketbook, and I feel confident in saying that it’s better for your brain too. Let us handle the heavy lifting for you so you can focus on your normal day-to-day job responsibilities. We understand that you’re busy, so let’s team up to find the right people for your open positions. The sooner we get those vacant positions filled, the faster you can get your production back on track.

Let us save you time, money, and provide you with peace of mind. However, be aware that when we submit a candidate that is actively on the job market, you must quickly engage before some else does, and you miss out on a stellar candidate.

You have to improve your hiring process

Qualified candidates know their value. I was recently working with a candidate with a strong background in professional facilities management. I submitted them to one of my clients for a Facilities Director position, but he was also interviewing with several other organizations. My client took their time (a couple of weeks) to extend an invitation for an interview. Once they finally decided to pull the trigger and bring them onsite, my candidate declined because they already accepted another position. They even told me, “I had to move forward. I knew it wouldn’t take long for me to land something, and you have to admit, they didn’t move very fast for someone with my background.”

This is a very true statement. We have a saying in our industry: “time kills all deals.” So, for the sake of your team and budget, act fast before someone else picks up your perfect fit!

Partner with a recruiter

So please give me, Stephanie Brown a call to fill your critical roles by the end of the year. At Johnson Search Group, we pride ourselves on our clear, efficient communication with both our clients and candidates. We can partner together to get the people you and your team need so you can move into 2020 with a peace of mind. We’ll even help you find ways to help improve your hiring process. Even if you are working with a few different agencies, add Johnson Search Group to your list and watch as the qualified candidates flow into your organization. Let’s have a conversation today!

employee retention

How to Increase Employee Retention in Today’s Market

More and more employers are struggling with employee retention in today’s market. With a near 50-year unemployment rate and 7.22 million job openings in the United States, many-valued employees are leaving for greener pastures. If you are one of the thousands of employers facing a steep decline in employee retention, here are a couple of things you can do retain your employees.

Fill vacant positions quickly

If you have vacant positions at your company, it’s in your best interest to fill them quickly. They probably cost your company more than you think. Not only is your production taking a hit, but the average cost of an employee exit is also 33 percent of their salary. It costs thousands of dollars and hundreds of hours for a company to fill a vacant position successfully. The faster you fill your vacant positions, the more money you will save.

Additionally, if you have a vacancy, someone else on your team is probably picking up the slack. Every day that goes by with that employee doing extra work, their likelihood of leaving skyrockets. Vacant positions can be a vicious cycle that your company doesn’t want to be stuck in.

Foster a healthy work-life balance

Ninety-five percent of human resource professionals claim an unhealthy work-life balance is detrimental to employee retention. If you don’t provide an excellent work-life balance, they’ll find a new employer that offers more time away from work. Again, employee vacancies play into this. If your team has multiple vacancies, your other team members are picking up the slack. They’re likely working longer hours, doing extra tasks, and feeling burnt out. If you keep these positions vacant, your employees will seek other opportunities that give them a life outside of work.

If you don’t want your company to fall victim of the current quit rate of 2.4 percent (the highest rate ever recorded), you need to take care of your current employees. And the best way to do that is to ensure they aren’t covering the workload of two or three different positions. Therefore, if you want to avoid this predicament, reach out to our expert team of recruiters at Johnson Search Group. We will help fill your open positions and keep your employee retention rate manageable.

Today's Job Market

How to Navigate Today’s Job Market

Today's Job Market

As most of you know, the labor market is tight. Business payrolls increased by an astonishing 195,000 jobs in August, well-surpassing economists’ predictions of 148,000 jobs. There is a lot of talk about an upcoming recession, but each month, more and more jobs are added in the United States. Plus, the total number of people claiming benefits in all programs for the week ending August 17 was 1,639,60. That’s a decrease of over 4,000 claims from the previous week and almost 9,000 from the same time last year. In other words, the job market is strong.

However, as an employer, this can be tough. If you are struggling to fill your critical roles, here are a few tips to help your team navigate today’s job market.

Move quickly

In today’s market, regardless of your industry, your hiring team has to have a sense of urgency. Frankly put, you don’t have time to mess around and be picky when candidates are only on the market for an average of 17 days. Don’t believe me? Listen to Krista Portolesi, one of our executive banking recruiters:

If talent is only on the market for 17 days, your organization must make a decision and onboard your candidates faster than the market average of 42 days. The longer your hiring process takes, the more you will struggle to fill your critical positions.

Be proactive

In this tight market, you cannot be reactive as an employer. You must identify your hiring needs before they become pitfalls. The last thing you want is to be unaware that your team or department lacks the talent it needs to keep up with production. If you’ve identified a hiring need, act now before it costs your bottom line. The average cost of vacancy (at an average of 42 days) is $4,129. That’s four grand you could have allocated towards a new software or piece of equipment. If there is a hiring need on your team, fill it now, or those cost of vacancies will start adding up really quickly.

Work with a recruiting firm

If your hiring process needs a helping hand, why not reach out to a recruiter? At Johnson Search Group, we have talented recruiting professionals that specialize in your industry. We know the market trends and genuinely understand your hiring needs. We have heard time and time again from employers that they are struggling to fill their critical positions – sometimes even taking months to do so. So, instead of worrying about meeting production goals, give us a call and let us help you navigate today’s job market.

Contract Workers

Why Contract Workers Are Appealing in Banking

Contract Workers

With the market as hot as it is, we need to talk about contractors. Most banks don’t think about using contractors for those urgent or critical roles. It is not at the forefront of the minds of hiring managers and HR professionals like it is in other industries, such as Healthcare. Hospitals and healthcare providers are continuously using contractors to fill their most critical positions. However, in this tight market, more and more banks are utilizing contract workers.

In fact, I placed two contract positions last week for two different banks. If you think banking institutions aren’t interested in contract workers, you are definitely mistaken. So, when can or should you use a contractor for a role?

Critical Job Vacancies

For any role that’s vacant and is vital to your organization. For example, the operations side of the bank is an area that makes perfect sense to utilize a contractor. A recent study claims that over one-third of workers are considering quitting their jobs to take advantage of today’s market and find a new job opportunity. So, hiring a contract worker is ideal when you lose that critical person on your team, and you need someone to fill in immediately. Plus, it will help ensure you don’t burn out your other staff that is going to have to fill in for them until you find the person to replace the loss.

My team and I can fill those contract roles incredibly fast. I just filled a Mortgage Closer/Funder role for a bank in less than 24 hours. They lost a critical member of their team and needed someone that could handle those closings within a day of starting. We were able to get this bank a great professional contractor to fill in until they can find the right person. And if the contractor continues to do a fantastic job, they may get converted into a permanent employee.

Leave of Absences or Vacation

Another great reason is for Leave of Absences (LOAs) or extended vacations. With the laws changing with LOAs to offer more freedom for new parents, banks are in a pinch as they let their employee take the time they need with their new child. Or when someone needs to take an extended vacation but has essential tasks that still need to be done while they are gone. This is a natural place for a contractor.

You may not be looking to replace all of what that person does daily, but the bulk of what they do. You need to prioritize what that person does, and which tasks/responsibilities are essential to the organization. After you determine that, your team now knows what to look for in a contractor.

To put this in perspective, one of my top clients called me last week needing a senior accountant. One of their accountants is going on an extended leave, and they need a contractor to fill their place temporarily. We discussed the most critical responsibilities they required the contractor to be able to handle. We received this job order on a Tuesday, and we had a great accounting contractor in the next afternoon. She covered the must-haves and had some additional skills that will help cover the role of the employee on leave.

Hiring for a project

A common need for a contract employee is for project work. We do a ton of this in many areas of banking, including IT, Risk/Quant, HR, and BSA/Compliance. Our team has placed many people in these areas. When your project needs a subject matter expert or a regulatory requirement change, this is where we can help you get contractors in place. You will save money on the contract, and you don’t have to figure out how to utilize that person after the project if you decide not to bring them on in a perm capacity.

Plus, we handle everything for you; they just show up, work on their assignment, and move on to the next project. Many of our clients see the value of contract workers and consistently utilize Johnson Search Group to fulfill their temporary hiring needs. In fact, we just filled a role for a massive technology conversion with one of our banking clients. The contractor we placed with them has helped multiple banks convert to this new technology and knew the hurdles, pain points, and shortcuts to help make their project go smoothly.

Work with us to find your next contractor

So, when your next perm employee quits without notice, think about calling us to fill the role on a contract/temporary basis. Or, if one of your employees goes on an LOA, think about utilizing a contractor to perform the critical aspects of their job. Johnson Search Group’s banking team can get the bulk of the workload off your other employees’ shoulders, so you don’t lose them too due to work overload. If your organization needs someone now, give us a call and let us help you find your next contractor.

hiring process

How to Get the Candidates Your Team Needs

hiring process

If you are like many other employers, it’s becoming incredibly difficult to find talented candidates to fill your open positions. The U.S. Department of Labor recently released a report demonstrating that nine different states have record low unemployment rates. So, are you one of the many employers’ struggling to navigate today’s tight labor market? If so, here’s how to streamline your hiring process.

Speed up your hiring process

The first (and most important) step to successfully recruiting candidates to your team is to speed up your hiring process. And we’re not just talking about getting the job description posted! Think about the entire process, from the beginning to the candidate’s start date. The average time to fill across all industries is 42 days at an average cost of $4,129. The longer your process, the longer your job vacancy will be, and thus, the more money your company is wasting.

Gone are the days of bringing candidates back for three or four interviews and taking your sweet time. In today’s market, employers do not have that luxury. Try to find areas throughout your process to eliminate time or unnecessary steps. If you can remove a phone screening and move straight to an onsite interview, do it. Cutting out unnecessary steps will save you time, money, and ensure you’re getting the talent your team needs to keep producing.

Make decisions quickly

Eliminating redundancies and inefficiencies throughout your hiring process is critical. However, the interviewing process is only just the beginning. Once you and your team choose a candidate, you must make an offer and agree on a relatively soon start date. In this market, if you take your time to extend an offer after the final interview, you’ll likely miss out on a great candidate. It’s a candidate-driven market. That means candidates have options (and lots of them!). The more time before an offer is extended, the more time candidates have to explore additional lucrative job opportunities.

The same thing goes with excessively long start dates. If you make an offer to a candidate and set a start date for a month or more down the road, your organization runs the risk of missing out on your hire. Even if a candidate accepts your offer, a lengthy onboarding process grants them the opportunity to check out other jobs or receive additional offers. In this job market, candidates may move on if they find a job that may offer better benefits, a higher salary, or is more appealing to the candidate. Make your decision quickly and onboard efficiently to ensure your candidates don’t jump ship or ghost you at the last second.

Ask a recruiter for help

Having trouble identifying areas in your hiring process that need improvement? Don’t worry; you’re not alone. It can be challenging to find areas to improve to ensure you’re getting the best candidates possible. If you need a hand finding areas in your process to improve, reach out to one of our talented recruiters today. We can go over your hiring process with you and help find ways to streamline your process and ensure you have the talent needed to keep producing. Reach out to Johnson Search Group today and let’s work together to fill your critical roles.