Using consultancies to fill your talent gaps? Find out why this might not be the best approach
In this article we bust the myths and explain how savings can be found without compromising on quality of talent.
Whilst wavering client demand has softened some UK hiring volumes, businesses with resourcing requirements continue to face stiff competition for talent with vacancy levels for Q1 2023 27% higher than pre-pandemic levels (*UK Labour market statistic). This is coupled with a buoyant contractor market and low candidate confidence in the permanent hiring arena, making it hard for businesses to attract and retain the right talent.
With many organisations still driving necessary reform through Transformation programmes this hiring pinch is particularly acute in the fields of Change and Technology where Consultancies providing related advisory services are similarly affected by talent shortages.
Subject expertise – or resource augmentation?
Consultancies of all sizes play an important role in providing strategic advice, guidance and expertise on complex issues, however they are commonly misused by organisations who rely on them to solve what is fundamentally a staffing issue. This often stems from a belief that there is no other option to find the resource in time, or that the programme itself is too important to consider alternative options. At Resource Solutions we know there is a better way to meet the same objective.
There are myriad reasons why we can make that statement with certainty, but the main highlight is that the expense of resourcing through these channels is just unnecessary.
As an example of how impactful this is, Resource Solutions saved an Asset Management client over £48,000 this week alone through effective triaging of business requirements; we worked with the Head of Programme to understand the needs of their upcoming project, and rapidly found and onboarded a Programme Manager through our Workforce Consultancy team where that same ‘Consultancy Requirement’ was originally intended for a Big 4 firm.
Applying the same approach, we will deliver the wider Project resourcing requirements in coming weeks which and in doing so we will positively impact our clients’ bottom line so that the Project budget can be reallocated.
Examples of cost savings for individual consultants to small project teams, when compared with cost of resourcing through consultancies
Myth Busting: Why resourcing through consultancies might not be the best approach (and how to make savings without compromising on quality talent).
Hiring through Consultancies (both large and small) is often unnecessary and frequently the incorrect route to market where non-permanent resource is required. Here are three further reasons why:
- It is a misconception that routing resource away from Consultancies means sacrificing quality or expertise in favour of cost savings. Resource Solutions meet a wide range of highly specialist business needs across Change, Transformation and Technology – 100% of our consultants have been assessed as ‘above expectation’ in their client-led performance reviews which are held each quarter to ensure success in the assignment. These high standards are reflected in the retention rate for our consultants which is likewise 100% year to date.
- Time to Onboard is often dictated by your Day 1 requirements – typically laptop and access – and in most cases Resource Solutions’ Workforce Consultants are sourced and deployed as quickly as you can onboard them. You may also have contract / SOW headaches to navigate.
- As Resource Solutions’ Workforce Consultants are fully employed there are zero IR35 risks and other compliance headaches found with consultancies who may deploy associates.
If you are considering how to resource for immediate or upcoming project requirements across Change, Transformation and Technology, then bring us into the conversation to find out how we can impact your bottom line.
For more information, Get in touch with us.