In today's highly competitive world, businesses race against one another to get on top of the success ladder. Small businesses are bogged down by issues like the problem of inventory due to scale of operation, marketing, and R&D budgets etc.
The most pertinent of these issues is staffing. Some businesses are of a seasonal nature because of which it is hard to predict the turnover and the staffing required.
To circumvent such hitches, small businesses can now utilize the concept of temporary staffing.
4) This certainly is better than the idea of maintaining an HR department especially in case of businesses that rely heavily on temporary staff as the nature of projects they undertake is seasonal in nature.
5) Also, businesses don’t have to invest resources in filing taxes and TDS as that is taken care of by PaySquare.
6) The prospect of hiring talent and managing them is removed from small businesses' shoulders as PaySquare can manage all the aspects regarding temporary staffing including their time and leave management system recording.
7) Employment terms remain flexible with customized services according to the customer's requirements across various sectors like BFSI, consumer durables, retail, telecom, chemical, manufacturing, e-commerce, pharmaceuticals, and healthcare.
8) In order to maintain parity of the temporary staff with the permanent staff, industry standard benefits can be suited to the business needs.
9) Reimbursement and claims policies, leave policy and, retiral benefits policy are taken care of by Paysquare and a consolidated report is sent.
10) With the right people and technology, it can be ensured that the business' productivity is improved, with time and cost-saving advantages in the long-run.
Issues with Temporary Staffing In India
Temporary staffing in India has picked up following global trend ever since the popularity it gained in the USA since the late 1940s. The concept still remains relevant, for many businesses consider temporary staffing as an extremely useful tool for varied reasons. Even if organisations were to go with temporary staffing in India, they would still have to invest a substantial amount of time in their HR department which would divert valuable resources away from their core operations. The other alternative is to outsource the operations to payroll service organisations like PaySquare so that small businesses can focus on their core activities.How can Paysquare Help?
The process of recruitment involves the whole task of drafting a contract, including clauses that speak of their termination in cases of both when the project is finished or when the project doesn’t come through, lies on the business. If not drafted meticulously, the employees will rise in objection. This is where Paysquare comes into the picture. Paysquare offers resource management services both to the temporary and the permanent staff where the payroll services for those staff are maintained on their rosters and all relevant benefits are administered by them. In other words, all the required compliance data including statutory compliances, provisions that are required to be made such as provident fund, pension schemes, and other employee benefit programs and deposits will be the onus of Paysquare services. In addition to that, if there are any industry-specific benefits that need to be administered, then that is taken care as well. This way, small businesses can utilize temporary staff without having to worry about the legal intricacies of the contractual obligations in their purview.Ten ways how small businesses can utilize temporary staffing services of Paysquare are as follows:
1) Detailed reports including the breakup of CTC, the benefits provided, the deposits made, leave management roster, salary advances and loans roster and other relevant documents will be provided. 2) Statutory compliance reports are periodically sent to small businesses so that they don’t have to worry about compliances with the law and they can assign the needed temporary staff for the required projects. 3) With an external agency managing all the HR formalities, these businesses can move on to their tasks focussing on improving their core competencies without worrying about the clauses in the contract regarding their hiring and termination in case the project doesn’t come through.
4) This certainly is better than the idea of maintaining an HR department especially in case of businesses that rely heavily on temporary staff as the nature of projects they undertake is seasonal in nature.
5) Also, businesses don’t have to invest resources in filing taxes and TDS as that is taken care of by PaySquare.
6) The prospect of hiring talent and managing them is removed from small businesses' shoulders as PaySquare can manage all the aspects regarding temporary staffing including their time and leave management system recording.
7) Employment terms remain flexible with customized services according to the customer's requirements across various sectors like BFSI, consumer durables, retail, telecom, chemical, manufacturing, e-commerce, pharmaceuticals, and healthcare.
8) In order to maintain parity of the temporary staff with the permanent staff, industry standard benefits can be suited to the business needs.
9) Reimbursement and claims policies, leave policy and, retiral benefits policy are taken care of by Paysquare and a consolidated report is sent.
10) With the right people and technology, it can be ensured that the business' productivity is improved, with time and cost-saving advantages in the long-run.
