Flexible hiring is one of the savviest ways for businesses to rein in costs while securing top talent. The way a company builds its team holds the purse strings to its financial well-being, and for many, uncovering inventive methods to stay nimble without diluting expertise is non-negotiable.
But how can businesses put this into practice?
The answer lies in flexible hiring - a strategic approach that enables companies to scale their workforce efficiently, optimise costs, and maintain access to high-calibre professionals. By embracing flexible hiring models, businesses can balance workforce efficiency and financial sustainability, ensuring they remain competitive without overspending.
With over 14 years of in-market experience of assisting companies with flexible hiring, we at RecruitMyMom wanted to share some of the best flexible hiring practices.
Different Ways to Hire Flexibly and Cost-Effectively
Flexible hiring allows businesses to pay for skills and time when needed, helping to manage cash flow more effectively. This type of flexible hiring comes in many forms, and companies have several recruitment options beyond the traditional full-time model that are available to them. Each has its own financial and operational advantages, which we explore in three examples below:
Flexible Hiring Options for Employers
1) Fractional Consultant Hiring: Executive Expertise Without the Price Tag
Fractional hiring allows SME’s to engage high-calibre professionals – from C-suite executives to specialists – on a part-time, project, or retainer basis. This flexible arrangement delivers premium skills and experience at a fraction of the cost of a full-time hire.
For smaller to medium sized businesses, this means access to executive-level expertise that might otherwise be unaffordable.
For example, an SME Johannesburg manufacturer facing marketing challenges might be unable to afford a full-time CMO. However, bringing in a fractional marketing executive on an independent contract for strategic oversight can transform their market approach at a manageable cost.
At RecruitMyMom we offer several fractional C-Suite Strategists, including CHRO, CTO, CMO and more.
2) Project-Based Contract Hiring: Pay for Outcomes, Not Hours
For businesses with defined projects or goals, outcome-based hiring offers good value. Instead of committing to indefinite hourly or monthly costs, companies can engage professionals on fixed-term contracts for project completion, paying for deliverables and results rather than time.
For example, consider a mid-sized Marketing company in Durban tasked with implementing a web-based campaign for a manufacturing client. Rather than hiring permanent UX specialists at R50,000+ per month each, the company can bring in experienced UX consultants on a project basis to deliver specific deliverables for a fixed fee. This approach reduces costs by avoiding unpredictable hourly commitments and brings in professionals with focused expertise exactly when needed to complete a task.
3) Part-Time Professionals: Right-Sized Expertise
South Africa has a growing pool of highly qualified professionals seeking part-time opportunities. These individuals – many of whom are moms balancing career and family responsibilities – offer businesses the perfect opportunity to access premium skills at reduced cost.
For a Cape Town-based tech startup, engaging a part-time HR specialist might cost R20,000 monthly instead of R45,000+ for a full-time professional – without sacrificing quality or expertise.
Over and above the above examples, flexible hiring types can also include:
4) Remote Workers: Hiring remote and flexible employees can significantly reduce office-related expenses while broadening the talent pool. Hiring remote workers enables companies to reach into cost-efficient geographical regions, locally and internationally. Hiring South African remote skilled moms from Europe and USA makes perfect business sense. Many of these are independent contractors, freeing companies up from long-term contractual costs and commitments.
5) Seasonal Workers: Seasonal work refers to flexible work that follows predictable cycles based on specific times of the year. This includes extra staff requirements in retail, during holiday shopping periods or in tourism, during the summer holiday months, or hiring tax professionals to assist during tax season. These workers can be hired on contract to ease the load in a cost-effective in a labour law-compliant manner.
6) Job Sharing: Two employees share one full-time role, allowing businesses to retain skilled professionals while keeping salary costs under control. Both employees share responsibility for the outcomes of the role. This is one salary shared between two. This can save the company money in the long run by ensuring continuity and reducing downtime when one is sick or on leave.
7) Virtual Assistants: Outsourcing work that busy executives should not be doing can save enormous costs. Examples include hiring marketing support to virtual admin assistants with a flexible work arrangement, helping companies streamline operations without hiring full-time, in-house staff.
Why Flexible Hiring Makes Financial Sense
Traditional hiring models typically have fixed costs, irrespective of workload. However, the cost savings of flexible hiring extend beyond basic salary considerations. These include the fact that flexible hiring helps companies benefit from reduced overhead costs, with oftentimes no additional office space, equipment, or resource allocation needed. This is particularly valuable for smaller companies or those looking to expand without increasing operational costs. Furthermore, the absence of benefits means savings on taxes, pensions, and medical aid contributions.
Businesses that embrace flexible hiring experience lower recruitment costs with reduced expenses for onboarding and training while enjoying minimised risk through lower financial exposure if business conditions change.
Smart Choices in Flexible Hiring
For flexible hiring success, businesses must define job requirements clearly, set measurable outcomes, and use a trusted recruitment partner (like us) to find skilled professionals.
Creating effective communication channels ensures smooth integration with existing teams, while establishing performance metrics helps determine how success will be measured. Building accountability frameworks that develop systems focused on results is equally important, as is considering cultural fit, as flexible staff should also align with company culture and values. Use vetted flexible hires from a reputable source.
Flexible Hiring Means the Right Talent at the Right Time
In the current VUCA economic landscape, businesses must consider their hiring strategies while keeping a firm grip on financial prudence. Flexible hiring emerges as a smart solution - trimming costs while equipping companies with a tactical skills edge in an ever-demanding market.
At RecruitMyMom, we've seen first-hand how flexible hiring transforms businesses. From SMEs accessing high-quality marketing expertise through fractional CMOs to businesses supplementing their teams with specialist part-time professionals, the cost-consciousness of flexible hiring is enabling companies to survive and compete more effectively.
RecruitMyMom specialises in connecting businesses with experienced talent seeking flexible work opportunities. Contact us to learn more.
