Freshers and seniors make up the ‘bench’. This is a term that indicates employees who are not on any project anytime. They are idling away their time by staying at home, or just swiping in and out of work, or signing up for training and doing courses on Udemy, Coursera and so on. The churn period between being put on a bench and getting deployed on a project can vary from two weeks to even six months or more. The worst part is that out of every ten employees on a bench, one gets fired. In such a scenario, we list why contract or flexi staffing is way better than having a bench for a company. These very reasons should also prompt the bench warmers to sign up with Workflexi for a fixed-term contract job that will make effective use of their time and fill that crucial time gap in their resume.
Companies spend much money in keeping employees on the ‘bench’. They keep giving them a basic salary, and even spend on upskilling or reskilling them. Some of their sales force is deployed to look out for jobs for them. Statistics reveal that big companies like Infosys have nearly 17% of their employees on the bench. That’s nearly 8500 of their total staff strength. And which employee wants to be on the bench the first day of their job? Here is where hiring contract workers resolves all these issues and keeps both the parties happy. The companies don’t have to spend on their bench-warmers and those on the bench can fill the blanks on their resume by being productive at jobs right away. Think of contract staffing as a virtual ‘just-in-time’ bench where there are employees when you need them.
Workflexi’s ‘basic payment system’ (BPS) takes care of the contract workers who worry about losing their job even before their contract gets over. Statistics reveal that 10% of the employees are asked to go on or before their term ends for various reasons. Here is where enrolling with Workflexi helps. We provide a basic minimum pay for one month (if you’ve worked for a minimum of six months), so you can look for a job, sign up for that certification course you always wanted to but didn’t have the time or just reboot, restart and unwind.
NO REVENUE LEAKAGE
When there are no employees on the bench, there is no revenue leakage of hiring and retraining or upskilling them. Importantly, the workers don’t get bored or feel helpless that their resume is empty. They are being put to use where it matters while the company can focus on its work instead of worrying about hiring and firing.
In their annual reports, top IT companies in India have clearly indicated that high employee utilization rates boost productivity and operating margins. With a negligible bench, that margin is only going to shoot up. With most big companies recording 15-20% benches, that is a clear gain in revenues.
Most employees sit on the bench because their skills don’t match the company’s requirements. This can be because you are a fresher from college or because you fudged your resume or because automation and other new technologies are rendering people jobless, prompting companies to retrain them.
When you are on the bench doing nothing but getting trained on things that you might or might use in the near future, employees not only get bored but also feel uncertain about their place in the company. Job insecurity hits them hard when the churn period stretches on endlessly. That is the time they realize that the company is not worried about their career growth. With contract staffing and Workflexi’s Basic Pay System, not only is this insecurity taken care of but also puts them at a bargaining position. Some contract employees even get paid 20% more than the regular workers, depending on their expertise and experience. In such a scenario, they are in the driver’s seat who get to choose the companies they want to work with and the projects they prefer. In addition, they get to strike the right work-life balance. They can take on only what they want rather than what they are given by companies if they were full-time employees. They can take breaks between jobs and pursue their various passions or just unwind and get back to work a month later.
In this new world of automation, leave the problem solving to the machines. Focus on problem finding. Bench is a problem and Workflexi is your solution. So what are you waiting for? If you are a bench-warmer or a Company, sign up with us now and say goodbye to the ‘bench’.