Just like in other countries, the Canadian economy has its ups and downs. When it’s up, businesses all over the country flourish. But when it’s down, many companies fail. They can’t make enough revenue to pay their staff members on top of their other expenses. They start laying off employees. And sometimes, even layoffs aren’t enough to keep their doors open.
Only the smart and strong survive. That is, the companies that can adapt to a changing market. Companies with a flexible workforce in Canada have the elasticity to stay afloat during the hard times. Their labour costs are significantly lower than those with many permanent employees, and they can adjust the number of staff members they have based on their current revenue and the economy in Canada. Here are three reasons why having a flexible workforce will allow you to thrive in Canada.
Save Time and Money
Of course, every company wants to save time and money. With a flexible workforce, they can do just that. Recruiting and hiring new employees as you need them can be incredibly time consuming. From reading dozens of resumes to interviewing the top applicants, you can spend much of your day on the hiring process. But with a flexible workforce, your staffing agency takes on the task of finding you the right employees whenever you need them.
Permanent employees are also more expensive than you might initially think. Their base salaries alone will run you more than your temp workers, but you also have to take into account sick and vacation days, leaves, benefits, RRSP contributions and anything else you offer them. And when there isn’t much work to do, you’re still paying them just to show up. With temp workers, you only pay for what you get, so you save a lot of money.
Minimize or Maximize Your Workforce Whenever You Need
When the economy gets rough in Canada or you’re just having a bad few months, it can be a real drain on your budget to keep all of your permanent employees on staff. With temp workers, you can minimize your workforce whenever you need to, whether you’re having a slow couple of weeks or even months or years. They understand that they won’t be coming into work if there’s no work to do, so you don’t have to worry about laying anyone off. And when business picks up again, you can get them right back where you need them with a call to your staffing agency.
Expand without the Financial Risk
When you want to try out selling a new product, you don’t have to worry about having enough employees on hand to take the extra workload. You can test out your new products, ramp up your production, and get more sales reps to concentrate on selling them—for as long as you need. You don’t have the commitment of having to keep these workers on staff if the product doesn’t work out, so your financial risk is lowered—you don’t see as many consequences. If you see an increase in demand, you can easily add more temp staff members, too.
Thrive with a Flexible Workforce
Business in Canada has its ups and downs. Every business owner knows this. But it’s only the innovative ones who know how to adapt and thrive when the market changes. Having a flexible workforce can allow them to minimize and maximize their staff whenever needed while saving time and money. They’ll never miss an opportunity to grow and expand, and they’re less likely to succumb to a bad economy in Canada.