Lot of companies are scaling up their operations offshore. One of the biggest challenges they face is setting up a good team. It is not easy to scout for talent in a foreign land. In such situations, staff leasing companies come in useful. IT body leasing is another term generally used to describe this service. Let us understand in detail what each means:
Body leasing service
This service scouts individual experts for a company. These individuals bring a variety competences to companies which need them. They are specialists who are periodically hired by the lessee. Companies benefit from their support in the projectthrough the use of their knowledge and experience.
Team leasing service
This service refers to bringing on-board an entire team of specialists. They are assigned pre-defined tasks to be performed for the hiring company.
When you work with a team leasing service provider, you no longer have to do the hiring process yourself and deal with a number of aspirants. Your team leasing service provider will be the only contact person to deal with every time.
So, if you are an SME and want to set up a team of ten people, it is advisable to lease staff than to hire them one by one. When you want all of your staffs to be located in a specific city or place, you might as well get an office for all of them to work in.
That, of course, is another story, butfor nowlet us look at some of the best practices that companies follow when they decide to lease staff from a service provider.
Fix Your Budget
The lower operational cost is the primary reason why businesses want to outsource. It is also the determining factor when choosing the team leasing company you want to work. Set your budget at a lever that allows you to get the best value out of what you pay for.
It is important to carefully consider your budget constraints and be fully aware of the average overhead costs. You want to get as many people as you can to work on your project because lacking people in the team, can result to mediocre results and unnecessary mental stress on you and the bottom line.They always say quality over quantity, but these two factors work hand in hand in the staffing industry. Having more employees brings a higher possibility of a better output, so keep your budget and expectations clear.
Find The Best Agency
Another important factor to consider when finding the best staff leasing company is to network with the right agencies that will connect you to the right service providers. These agencies, should be based out of the offshore location where you want to hire. Make sure they have a comprehensive database or CRM (Customer Relationship Management) tool that is easily accessible. This way the process of finding a staff leasing company will be easier and more efficient.
That would ensure you do not have to look for the cream of the crop under a haystack anymore.If you do not want to connect with a business mediator, you can also depend on direct referrals from your peers or from other review sites.However, thereview sites can be misleading sometimes. A service provider company who is always looking for new projects could either mean they are always growing or they have high turnover rates. That means they could be either adding more people to the team to cater more clients, or they could be adding more projects because they are always losing business.
Outline Your Priorities
The art of finding an outsourcing business partner who gels well with your company values is a critical thing. For that you need to delve deeper into understanding the partnering company’s values, mission, and vision as a company. A company with a vision is a company with a sustainable future. If you plan to have a long-term profitable business, you need to partner with someone who will stay with you for the longer duration.
Besides values, experience counts as well. If experience is in your priority checklist, you should know if the company you are planning to work with has enough machinery, experience, and skilled team to handle their business and yours.You can start by looking at the growth graphs of your prospects. A consistently growing company might be doing something right and a fluctuating business chart indicates the company is still in the process of learning.
Chart a clear future goal
Understand how fast is your business growing and what are the future prospects of it in the new location. If your business is flourishing and you anticipate rapid growth in the next few years, then leasing gives you greater flexibility. This also applies if you think your business may downsize in the next few years, you can still benefit from the flexibility associated with outsourcing.
Understand the local economy
Hiring market is more volatile than one thinks. If your local area has been in a slump but is coming out of it, then this could be a good time to hire people at a lower price. Remember the demand-supply rule holds true even while hiring.
Be specific in your search for skills
After an analysis of project requirements, you should be able to list down the set of skills you want to bring in. It can be both knowledge or ability driven skills. It can be a short term or a long term requirement. Whatever it is, make sure not to ask for more than you need. The more skilled the employee is, the higher you will have to pay him. So the most rational thing to do, is to seek someone who has only the skills you need and not much more.
As you can see, hiring a short term employee is a good way out of many difficult situations in the project. By having in mind a possibility to use IT body leasing agency, you give your company a much impetus in hiring. Another benefit of body leasing is you can get services of specialists whom to cannot otherwise afford to hire full time. The rule is to keep looking for situations when body leasing or team leasing services will benefit your company the most. You will create better growth prospects that way.