MightyRecruiterAccording to the Bureau of Labor Statistics, the temporary workforceï has more than doubled since 1990, swelling the ranks to over 2.3 million. As the result of massive layoffs throughout the recession, more highly-qualified part-time temps than ever bring high-level skills, such as graduate degrees and management experience. For an employer, the benefits of choosing highly-skilled temp workers overï overqualified candidates are clear, but calculating how to pay them may become complicated.
Temps, outside contractors, contingency workers, and other types of freelance employees can come to the rescue when your business needs help on a particular project without requiring long-term commitments. In fact, highly-quality part-time temps provide the flexibility your organization needs to manage risks and stay lean. The high levels of specialized training or talent they provide can be exactly what your business need. Keep these guidelines in mind to ensure you are paying them what they deserve.
How to Calculate the Right Salary Rate
To help employers calculate the right rate for highly-quality part-time temps, try using a simple formula based on the equivalent salary of a full-time employee in the same job. Annual wages for most positions in any industry can be investigated on myriad salary databases. Divide the median annual salary by the average number of working hours in one year to arrive at an acceptable hourly compensation rate.
Part-time employees are an ideal trade-off between non-employee staffing solutions and full-time employees. While they enable employers to control the employee’s work, they cost less because they do not receive as many benefits as full-time employees and usually work fewer hours. In certain situations, you can ask part-time temps to work as many weekly hours as are required depending on your work needs. However, part-time employees may have full-time jobs with another employer, so you might lose out to employee loyalty. Highly-qualified part-time temps may also leave your company if they are extended an offer of full-time employment, leaving you with anï employee turnoverï dilemma. Remember, even part-time temps are counted as employees for determining liability under anti-discrimination laws.
Motivate Performance with an Equitable Compensation System
As the ideal balance between work and life becomes a fundamental factor for employees, many professionals are choosing freelance, part-time, contract, or temp work instead of committing to just one organization. The problem, however, is that part-time temp positions don’t always come with the same benefits packages as traditional full-time jobs. One principal strategy to keep highly-qualified part-time temps might be to use an incentive-based pay structure that allows for real rewards and huge bonuses for loyalty. In most industries, competition among part-time temps is high, and a compensation system that encourages quality output is essential.
Build in Accountability
It’s best to think about part-time temps as consultants doing project-based jobs for your organization. For example, providing a contractedï manager with well-defined goals enables successful completion of the project with expected results and within the desired timeframe. You can also create incentives or bonuses for completion of the project on time or ahead of schedule with performance standards. Highly-qualified part-time temps should earn more if they achieve optimal results ahead of schedule.
Offer Extra Perks
In addition toï performance-based incentives and salary negotiations, some employers allow contractors to use business facilities such as an on-site restaurant or gym. You can also introduce highly-qualified part-time temps to existing full-time staff, particularly those they will work with to realize success. Contractors perform best when they feel like insiders, so make sure to include them in relevant conferences where their contributions or experiences directly affect the results of the project.
Some organizations offer health benefits, dental coverage, andï retirement plans, to highly-qualified part-time temps who work less than 30 hours per week. As businesses struggle for qualified part-time workers, many realize that giving a benefits package is an excellent way to entice the best temps. Some offer generous benefits packages that extend beyond medical coverage and often include childcare costs and tuition reimbursement.
The Larger Pool of Possible Employees
An additional advantage of keeping part-time temps is that it may expand the pool of possible candidates from which to select full-time employees. As an employer, you will find a wide variety of groups that can work for your business if you offer part-time contract work. Offering flexible hours may also attract individuals with children or those with irregular work schedules.
As you look for ways to help compensate highly-qualified part-time temps, use the resources here on Mighty Recruiter to help learn the best ways to do so.