83% Of Executives Say They Are Increasingly Using Contract & Interim Professionals

Businesses of all sizes are increasingly looking beyond their conventional hiring models. Permanent staff remain the backbone of the workforce, but the workplace is evolving, and temporary and interim professionals are playing a greater role alongside permanent employees.

Firms’ leaders are tapping into the flexible labour market and the advantages of hiring contract and interim professionals, benefiting from:

Staff resource flexibility as business demands shift – Using contract / interim professionals gives your business flexibility and the ability to bring on staff during peak seasons or to assist on mission critical projects without pulling from other resources within your organisation.

With the ever-changing market, contingent and contract resources are also able to downscale quickly based on demand, the completion of a project, or sudden changes in business needs.

Access to highly skilled, experienced talent on a project basis and to fill skill gaps – By bringing on interim professionals you can access a completely new talent pool that is highly specialised to assist with niche projects within your organization that may not warrant a fulltime hire.

Hiring specialists takes time and can be more costly than hiring for traditional roles. If your business plan is to make a hire within a highly specialized skill set, it may be beneficial to engage an interim resource to fill the gap until the position can be filled on a permanent basis.

Lift morale of permanent staff by providing contingent support during times of increased demand – Retention rates have hit record lows following the “Great Resignation” and remains a “hot button issue” as we enter 2022. The hiring of interim and contract professionals during times of increased demand can positively impact your workforce’s morale, prevent burnout, and decrease overtime.

Faster onboarding to provide an immediate solution to staffing shortage – Recruiting, sourcing, hiring, and onboarding takes time and can be extremely challenging in an active talent market. By hiring interim resources your firm can move quickly to fill your most pressing openings.

Ability to assess contingent workers fit and skillset before committing to a full-time hire – When hiring an interim resource to fill a current opening, your firm benefits by not only having the role filled on an interim basis but this also gives the business the ability to vet the interim candidate for the permanent role.

If you are looking to hire expert Compliance, Financial Crime, Risk, Legal or ESG interim or contract support, and would like to discuss market rates, availability, or terms, please reach out to:

Katherine Lord | Partner & Head of Danos Consulting (EMEA)
E: klord@danosconsulting.com  | T: + 44 (0) 207 010 1153

Jace Olander | Associate Partner, Head of Danos Consulting U.S. (Americas)
E: jolander@danosconsulting.com | T: +(1) 212 600 4807

Adnan Maddix | Partner, Head of Singapore (Asia Pacific)
E: adnanmaddix@danosassociates.com | T: +65 6950 4505 

Source: Oxford Economics