Temporary work has always been noteworthy and necessary, but because it ebbs and flows along with the market, we’re currently seeing it boom. Because of the accelerated growth rate and extra workload many companies are experiencing, they need extra manpower to operate at maximum capacity.
Employers are also becoming increasingly fond of temp work. They’ve found that they can quickly fill talent gaps without bringing someone on permanently. This can offer solutions to niche problems that need immediate, expert attention.
This isn’t the only reason temp work is especially in-demand right now. Temp workers find the diversity of tasks and environments appealing and enjoy taking advantage of new opportunities as they come along. Flexible work is also a perk that comes with some forms of temporary work.
So, as the temp market grows, let’s take a closer look at its nuances and trends.
How the Economy Affects Temp Work
Right now, we have an extremely low unemployment rate of 3.6%. This means that not many people are generally looking for work. This is true for the temp space, as well. In order to access top talent that isn’t necessarily on the market, many organizations are turning to recruitment firms. Right now, these partnerships are essential.
When there is not an abundance of talent available on the market, it is considered candidate-driven. This means that candidates can be a little more particular about where they work and the compensation packages they’ll accept. Employers will most likely have to compete for top temp talent, so they should prepare accordingly. In order to do this, we recommend that companies are ready to make a competitive offer and have an existing partnership with a recruiter. That way, there is no time wasted explaining the needs of the organization, company culture, etc. The recruiter will already know those details ahead of time.
The low unemployment rate also affects employers’ ability to hire full-time talent. To solve this problem, many of these businesses turn to temp workers to fill the gaps. While they are looking for permanent talent, many companies will bring on temporary workers as a stop-gap.
What Kind of Temp Talent is Available?
The current temp market is extremely competitive right now. Finding excellent temp candidates is becoming increasingly difficult, so companies need to act quickly. Specialists are particularly hard to come by. Employers will have to dig through their networks and scrutinize resumes to find a viable candidate.
Even in this candidate-driven market, you can find temp talent across industries, disciplines, and regions. This is where firms like Michael Page come in. For example, clients have recently turned to us for placements in the following disciplines:
- Accounting and Finance
- Audit and Risk
- Cyber and Information Security
- Human Resources
- Legal and Compliance
- Operations and Middle Office
- Technology and Data
How We Can Help
At Michael Page, we have a widespread network of top talent with whom we work on a regular basis. As we place a lot of temporary workers, we know who has contracts that are close to ending. We may know the perfect candidate for you and when they’ll be hitting the market.
When you’re dealing with a candidate-driven market like we are right now, you must be pursuing talent that is not actively searching for opportunities. We can do exactly that. We work with candidates of all kinds and can discuss temp opportunities with them, even if they haven’t considered it before.
Michael Page supports recruitment on a national level and has a reach that spans far and wide, and we’re expanding that reach every day. We’ve followed and assisted with clients’ expansions as they open offices outside of New York, in states like North Carolina, Washington, Texas, and Florida.
We make it a point to understand our clients’ needs and use a personalized approach when searching for talent on their behalf. We’re extremely solutions-oriented and want to find the ideal candidate for any given situation. Because our clients are important to us, we maintain our relationships with regular catch-ups and touchpoints.
Additionally, we’ll act as a consultant for our clients when they are ready to make an offer. We have knowledge of appropriate compensation and pass that information on. We have our finger on the pulse of this fluid market, so we can ensure that you’ll make a solid offer the first time around. In this kind of market, there is no time to waste. If you start a back-and-forth with a candidate, you very well could miss out on them. However, if you make a good offer the first time, you may be able to land a top candidate.
Michael Page can help you to navigate the temp market with accuracy and urgency, which can make all the difference right now. If you’re interested in learning more, please reach out to our team of expert recruitment consultants today.