There’s a lot of good news for businesses right now. Covid restrictions are being lifted as the general population becomes increasingly vaccinated, while the U.S. economy has surpassed its pre-pandemic size and consumer spending is surging.
There are some issues too though. Without doubt, the biggest issue for many businesses is a lack of staff. The Cedar House Sport Hotel is just one example that exemplifies the hospitality industry right now. The opportunity to do business is there, but it’s hard to take advantage of it without willing employees.
So what can you do? A solution we’ve been encouraging in hospitality staffing is a 70/30 workforce – 70% full-time employees and 30% contingency employees. This model comes with advantages, ranging from the ability to find more predisposed workers to the opportunity to transform how you run your business for a maximum return on investment.
The Market is Tough Right Now – But We Can Help
Let’s face it: the biggest problem you’re likely facing right now is finding staff. The 70/30 model is designed to do this first and foremost.
The Cedar House Sport Hotel isn’t alone. Companies all around the U.S. are finding it hard to hire, and that is especially the case in hospitality, where low-income employees are reluctant to return. This has been shown in the unemployment rate dropping dramatically from mid-2020, when the pandemic was out in full force. Now, unemployment levels are staying relatively steady. The number of people looking for work is staying the same, and the market for new full-time employees really isn’t there.
A 70/30 model gives you a more attainable goal. Rather than trying to find people who are hard to find (or, worst case scenario, simply aren’t out there), you can fill the gaps with contingent employees. This is especially possible in hospitality staffing where many people work multiple part-time or temporary jobs across different days and/or hours.
This is also where a staffing partner can help. At The Party Staff, we have been helping our partners embrace this 70/30 model by working with them to find the right workforce, both from our long-time and new staff. We’re not just providing you anyone either – we work with a team of true industry professionals who understand the industry and enjoy working in it. Our people are your people, and we want to help you.
It’s Not Quite Business As Usual
The job market isn’t the only thing that’s changed. In all likelihood, the pandemic has changed your business, and will continue to do so.
Yes, Covid restrictions have largely lifted, but things are different, especially for hospitality businesses. State by state and even county by county, there are varying restrictions and beliefs that are changing how businesses operate. That means staying nimble is vital.
A 70/30 model gives you the chance to scale as you need. If business is down due to new restrictions, a new pattern you’ve noticed, or even a community outbreak scare, you can reduce the number of contingent employees you have. If business suddenly goes up, then you can rely on a partner to quickly bring contingent employees on at a speed you couldn’t by hiring full-time staff yourself.
Reading this now, I’m sure you can identify some peaks and valleys you’re seeing in your business already. Contingent staff can help you scale for them appropriately. At The Party Staff, we pride ourselves on responding quickly to ensure your needs are being met, whether that means bringing more people on at speed or scaling down when it makes sense.
Contingent Employees Offer You Cost and Time Savings
The scalability of your business doesn’t just help you make money by bringing people on when you have more customers to serve – it also saves you money when you have fewer contingent employees on due to there being less people to serve. The cost and time savings go beyond that too, though.
Using contingent employees creates savings in the areas you’re no longer responsible for. Liability, workers’ compensation, insurance, vacation, sick pay, retirement, and more are either no longer applicable or in the hands of your partner. And while a good partner will keep you abreast of their policies, you’re no longer bogged down by the time and costs of these benefits. These can be serious savings too – according to the Bureau for Labor Statistics, benefits for private industry workers can make up 29.8% of total employer compensation costs.
An experienced partner, such as The Party Staff, will also find you significant savings in onboarding. The contingent staff you work with should already be experts in their industry and require minimal training to understand how your business might do things slightly differently. Your full-time employees will therefore be able to spend more of their time on their work too, alongside your new contingent staff.
As times remain somewhat uncertain, all businesses could do with cost and time savings. Utilizing a 70/30 model in conjunction with The Party Staff finds you those savings – as well as the workforce you need to serve your customers.
Are you having issues finding the staff you need? Reach out to us today to learn how we can partner with you to find you a 70/30 workforce that brings a tangible ROI.