Hiring Remote - Your Team in Asia

As businesses continue to adapt to the changing landscape of work, one trend that has gained popularity in recent years is staff augmentation. Staff augmentation is the practice of supplementing an organization’s workforce with external resources such as contractors, freelancers, or temporary workers. This approach allows businesses to quickly scale their workforce up or down based on their needs without the long-term commitment of hiring full-time employees. In this article, we will discuss the latest trends in staff augmentation and how they can impact businesses in the UK.

Trend #1: Remote Work

The pandemic has accelerated the shift towards remote work, and this trend is likely to continue even after the pandemic. Staff augmentation providers can help businesses navigate this transition by providing access to a global talent pool of remote workers. This not only allows businesses to tap into a broader range of skills but can also save costs associated with maintaining a physical office space.

Trend #2: Specialist Skills

As businesses continue to evolve, so do their needs for specialist skills. Staff augmentation providers can help businesses access a range of skills and expertise that may not be available in-house. For example, a company may need to hire a data scientist for a specific project, but they may not have the budget or resources to hire a full-time employee. In this case, a staff augmentation provider can help them find a qualified candidate for the duration of the project.

Trend #3: Agile Workforce

Agile methodologies have become increasingly popular in recent years, and staff augmentation can help businesses adopt an agile workforce. By supplementing their team with external resources, businesses can quickly adapt to changing demands and allocate resources more efficiently. This approach can help businesses stay competitive in an ever-changing market.

Trend #4: Compliance and Regulation

Compliance and regulation are a growing concern for businesses across all industries. Staff augmentation providers can help businesses ensure compliance by providing expertise in areas such as data protection, tax compliance, and employment law. By partnering with a staff augmentation provider, businesses can ensure that they are following best practices and avoiding costly legal issues.

Trend #5: Diversity and Inclusion

Diversity and inclusion are becoming increasingly important for businesses. Staff augmentation providers can help businesses access a diverse talent pool, which can lead to increased creativity and innovation. This approach can also help businesses improve their diversity and inclusion metrics, which can have a positive impact on their reputation and brand.

In conclusion, staff augmentation is a trend that is likely to continue as businesses navigate the changing landscape of work. By leveraging the latest trends in staff augmentation, businesses in the UK can access a global talent pool, tap into specialist skills, adopt an agile workforce, ensure compliance, and improve their diversity and inclusion metrics. By partnering with a staff augmentation provider, businesses can stay competitive and adapt to changing demands.

Inflation in the UK hits a new high.

For the first time since 1981, inflation in the UK hit 11.1% in 2022–bringing with it worsening job shortages, as more people leave the workforce and wages increase at their highest rate in over a year.

In terms of SMEs, budgets are being impacted by the rising cost of living: as global crises affected commerce, more than half of SMEs saw operating costs above inflation, and 95% cited higher operating costs as a result of the rising cost of living.

Wage negotiations and interview no-shows are the main recruitment issues for SMEs.In addition to this, recruitment challenges continue to be costly. Nearly a quarter of employers have experienced early departures of new staff.

Talent problems and salary inflation are being fueled by staff attrition: More than a quarter of SMEs indicate they have been unable to fill open positions as a result of the so-called “Great Resignation,” which has put a shadow over the sector. According to statistics, 29% of millennials are the age group most likely to have quit their jobs in SMEs.

Neil Davies, CEO of Close Brothers’ Commercial Division says:

“Businesses have, for some time now, borne the brunt of both rising costs and inflation along with supply chain problems that have made it difficult to plan – both finances and stock – while trying to meet customer demands. But it’s encouraging to see that firms are still keen to invest despite all the challenges they are facing.”

The Skills Shortage in the UK

The skills gap is straining businesses’ remaining employees and resulting in a loss of productivity, with 78% of them reporting decreased output, profitability, or growth.

Finding the right qualified employees is one of the issues contributing to the stress UK SMEs are feeling, according to last month’s SME tracker. Half (50%) of UK SMEs say that skills shortages are harming their client services.

The skills shortage continues to hamper SME growth in the UK. This lack of access to talent, coupled with the economic downturn and turbulence, is causing SMEs to deprioritize hiring, which will have a long-term negative impact on SME growth as well as exacerbate already existing strains. Nearly one-fifth (17%) of businesses are not actively looking to grow in the next year.

The annual OU study, which this year was produced in partnership with the British Chambers of Commerce, is based on a survey of more than 1,300 organisations of all sizes from the governmental, corporate, and nonprofit sectors throughout the four countries.

What’s the solution?

If you’re an SME from the UK, YTA makes it simpler to hire, onboard, pay, and manage your staff. You can hire remote workers in Asia with YTA, saving you a lot of time while efficiently addressing the skills shortage problem in the UK and saving you thousands of pounds.

With the aid of YTA’s experts, assemble a committed team of professionals in Asia who possess the ideal combination of abilities for your company. Join the UK’s fastest-growing startups that sourced even their most difficult tech roles in under 2 weeks and save 50%+ on direct staffing costs.

At YTA, you can find top remote talent starting from just £2.99/hour!

Reach out to us if you have any questions at all–we’re just one click of a button away!

Category: Hiring Remote

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Unveiling the Latest Trends in Staff Augmentation: How it Can Impact Businesses in the UK