May 7, 2022
How Manpower Supply Companies Act As Contingency Solutions
The world is currently experiencing an ongoing labor shortage. In a survey conducted in 2021, it was shown that globally, 69% of companies reported talent shortages for that year alone, up from 35% in 2013. Significantly, in a study released by Korn Ferry, it was estimated that the global talent crunch could reach up to 85.2 million people by 2030, resulting in the loss of trillions of dollars in economic opportunity for companies all over the world.
There are several causes for this. First, the older and more experienced workers are retiring. This is significant because according to reports, in the U.S. alone, Baby Boomers represent a quarter of the total labor force. Second, there is a labor mismatch. According to research, this is among the biggest causes of labor shortage as the types of jobs available do not complement the skill sets and willingness of workers, causing companies to employ less than the number of employees required by their plantilla.
To remedy this ongoing shortage in labor supply, it becomes wise for companies all over the world to develop contingency solutions that would address these problems so as not to compromise their productivity and overall, the economy. One of the best solutions available is to engage the services of manpower supply companies who give the following advantages for contingency:
A labor pool is a network of independent and readily available workers who are knowledgeable and skilled in a particular field. Through manpower supply companies, organizations and businesses will be able to have a group of workers within their reach as needed. For example, should they have a number of civil constructors retire, manpower suppliers can provide them with the number of workers required so as not to impede legitimate business transactions, allowing them to function in their full capacities as the retiring employees can be replaced for as short as two to three days. Moreover, since the replacement workers are already skilled in the job, employers would no longer need to spend a significant amount of time and resources in training, allowing them to have such workers work immediately.
Document processing with ease
Especially in the biggest job markets like the UAE, who, according to the International Labour Organization, hosts the fifth largest migrant worker populations in the world, organizations and businesses typically undergo long and tedious document processing in order to comply with the legalities required by states, such as visa arrangements and employment contracts. This usually causes deployment delays that can hinder companies from expediting their processes. With the help of manpower supply companies, however, they would no longer need to worry about this.
Manpower suppliers undergo stringent documentary processes to ensure that once employees are deployed in the field, organizations would no longer need to spend a substantial amount of time on their documents. With this, they can have the needed workers timely as their legal requirements have been already processed.
Manpower Solutions and the Labor Shortage
With all the advantages that manpower solutions can provide as a contingency, organizations can ensure that they will have the workers they need in no time amidst labor shortages through a wide network of highly qualified laborers, both in the blue and white collar sectors. If you are in an in demand labor market like Dubai or Abu Dhabi, reach out to World Star Manpower for manpower supply in the UAE and have your technical needs addressed in no time.