18 Dec 2021 Ankit Chadha

What Is Loan Staffing and Everything You Need to Know About It?

Loan staffing | TRC Corporate Consulting

Loan staffing is also known as contract staffing, and it is the process of hiring temporary employees only for short durations, sometimes even on a project basis. The idea of loan staffing is to hire eligible and skilled people for certain tasks or clients without providing them with the extensive employee benefits of the organization. It’s a great, efficient, and affordable way of getting important things done in a limited time.

Today many organizations decide to go for loan staffing services, and they partner with reliable consulting firms such as TRC Corporate Consulting to hire temporary or contractual staff. We have a panel of experienced consultants who can help you connect with the potential candidates who have the apt experience and qualifications to get your job done in the given time.   

The temporary employee who works under your organization is working on the payroll of the 3rd party staffing or the consulting firm. Loan staffing is a tri-party arrangement between the consulting/staffing firm, employee, and the client company.

Now that you know what loan staffing is, we can say that the employees recruited on loan staffing are hired for short-term employment, in contrast to the permanent full-time workers.

To help you understand loan staffing meaning more precisely, here are a few features of a contractual staff hired through loan staffing services:

  • The staff working as contractual or temporary employees can take up part-time work, independent contracts, seasonal work etc.
  • Unlike a regular permanent employee, loan staffing hires people who, instead of working from 9-to-5, work more in line with your and their needs and schedules.
  • Contractual staff also have complete control over their work nature, usually even the prices they incur and the amount of work they wish to do.

 

The Benefits of Loan Staffing: An Employer Perspective

If you are planning to hire a consulting firm that can help you provide contractual staff but are slightly sceptical of the loan staffing services, then here are three significant benefits that you can get out of these services:

  1. Enhanced Hiring Speed

The loan staffing firms usually know several people who are ready to work on a contract basis and can join immediately. If you are hiring staff directly, then recruitment, training, internal sign-off and joining formalities etc., can consume a considerable amount of your time.

Thus, with the help of loan staffing services, you can save all that time and utilize it to make core decisions and strategies. A loan staffing agency takes care of everything from shortlisting the candidates, joining process of the employee to their training and making sure that you have staff in place as promptly as possible. It is mainly considered an efficient option for companies accelerating their growth, such as start-ups.

  1. Multiple location hiring

You can have a great understanding of your local market, but when it comes to other states and cities, you might feel lost and find it a bit tricky to hire someone who is from an entirely different geographical location.

Organizations hire staffing agencies for loan staffing because these firms primarily operate over large areas (be it nationally or internationally), which means a single consulting firm can hire for a large multi-location business.

  1. Scope for Flexibility 

When you opt for loan staffing services for your organization to hire contractual or temporary staff who can work on a specific project, you can have the benefit of flexibility over your staff. How? Well, with loan staffing, you can choose to extend the contracts of people who worked beyond your expectations and were diligent enough to help the company move ahead and achieve its organizational goals. Otherwise, you can decide not to renew their contracts in case they were not able to contribute as per your expectations.

Why Is Loan staffing growing at a fast pace?

With the modern tools and platforms, the employees no longer have to stand near file cabinets and fill paper forms to complete their work. Businesses today increasingly work digitally. Due to digitalization, the employees can access work files and documents from locations other than the office.

This allows the employees to work remotely and with utmost dedication and credibility. Many employees also use several part-time or casual opportunities to shape their ideal lifestyle.

Why Choose Staffing Solutions at TRC Corporate Consulting? 

We, at TRC Corporate Consulting, get what it means to have the ideal workforce. We understand that finding the appropriate employees have become a challenge, considering the economic conditions that are constantly fluctuating and skill shortages that only lead to a war for talent. You can leverage our specialized loan staffing services that can prove to be of great help when it comes to finding the eligible candidate that can contribute and enhance your organization’s productivity and help you achieve your objectives efficiently in the longer run.

You can rest assured with us as we have helped several big and small organizations with our 70+ years of expertise and extensive industry knowledge by delivering effective HR solutions for different HR functions. At TRC, we provide custom-made packages, keeping in mind your specific organizational requirements considering the type of industry you are in. Therefore, we let our esteemed business partners across the nation focus on their core business while we hire and supply the best loan staff for them. For any queries, contact us!

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