As companies fully embrace the concept of remote work, staff leasing has become a predominant business solution. This is especially true for organizations that are looking to expand their workforce but lack the needed resources.
Having said that, what exactly is staff leasing? How is it different from the other forms of outsourcing? Most especially, where can you acquire staff leasing services that best suit your business needs? Let’s find out!
How does staff leasing work?
Staff leasing is also known as employee leasing or co-managed staffing. It is a type of outsourcing delivery model wherein you hire a third party to perform the following for your leased employees:
- Recruitment, hiring, and onboarding.
- Payroll and tax administration
- Insurance and benefits
- Employee engagement
- Regulatory compliance
You can acquire staff leasing services from a professional employer organization (PEO) like Booth & Partners. You may also procure leased employees from staffing agencies or other business process outsourcing (BPO) companies.
What makes staff leasing a viable solution for growing businesses is that it gives organizations more flexibility and involvement in selecting and managing their leased employees. Meanwhile, the PEO provides the needed tools and resources for the leased personnel to perform their roles.
You can adjust your workforce according to your evolving staffing needs. And this includes your leased employees’ length of contracts, which is also applicable to all your required job positions.
Staff leasing vs fully managed outsourcing
While staff leasing is also considered a form of outsourcing, it has its distinct differences from the fully managed outsourcing model.
Both outsourcing models are advantageous to businesses in all sectors, but it is always best to choose which suits your needs best.
With staff leasing, you are given full control over your leased employees. This means that they will directly report to your management. On the other hand, your provider will take charge of building your outsourced team, payroll, HR, and office facilities.
Meanwhile, fully managed outsourcing provides end-to-end staffing services. This means that your outsourcing provider will handle and manage every aspect of your outsourced activity and personnel.
3 reasons why you need staff leasing services
Staff leasing lets you leverage the following:
1. Get access to seasoned experts
PEOs have a wide talent pool of qualified candidates according to your job requirements. More so, with staff leasing providers like Booth & Partners, you are also given the opportunity to be involved in the hiring process.
2. Take full advantage of your staff leasing provider’s resources
Staff leasing is a perfect solution if you are in urgent need of extra sets of hands but do not have enough office space, equipment, and tools to support your employees’ roles.
Apart from providing resources, employee leasing companies ensure that they can utilize the latest technology for their services.
3. Save up massively on your overall operational costs
Outsourcing, in general, helps businesses save on costs. With staff leasing, you can save up to 70% on operational costs as you won’t be required to invest more in your labor costs. This includes providing training, fixed salary packages and benefits, workplace, and other needed resources.
Staff leasing: Build your offshore team with Booth & Partners
Get hold of that additional manpower you urgently need through Booth & Partners! No need to worry about giving up control as your leased staff will function as an extension of your in-house teams.
Get an exclusive quote and start your staff leasing journey with Booth & Partners today!