We’ve all heard of Software as a Service (SaaS), a model that allows companies to enjoy greater efficiency, lower costs and more scalability. Now apply the SaaS concept to talent and you’ve got Workforce-as-a-Service, or WaaS.
WaaS, also called Talent-as-a-Service, or TaaS, allows companies to quickly access highly qualified workers as needed through an on-demand, pay-as-you-go model. Just like with software, the WaaS model helps companies become more efficient, reduce overhead and boost productivity.
How does it work? Let’s say you need a digital marketer, a web developer or a customer service specialist. Instead of relying on the time-consuming and expensive formal hiring process, you can very quickly engage in a short-term contract with highly skilled virtual talent. What are the advantages? Let’s take a look:
Hire more quickly: Let’s stress the word “quickly.” According to Glassdoor, the average length of the hiring process in the U.S. is about 23.8 days, and then there’s onboarding and training. In cities like Washington D.C. and San Jose, CA, hiring takes even longer. With a WaaS model, you can have a new skilled worker on your team in just 5-10 days.
Increased scalability: These workers can work full-time and integrate into your team just an employee would, yet you can scale up or down whenever you want because of nimble nature of the contract. That helps you adapt more efficiently to the ebb and flow of market demand and external factors. Plus, incorporating remote talent has become much easier and more common since the Covid-19 pandemic.
Greater agility: Having such agility is extremely important, yet hard to achieve under normal organization structures. A whopping 92% of executives say organizational agility is key to success, yet only 27% believe they’ve achieved that level of adaptability, according to a Project Management Institute and Forbes Insights report. WaaS helps companies get ahead of the curve.
Lower costs: There’s a huge benefit on costs, too. Because WaaS workers are remote, you can tap into a diverse, global network of skilled workers. You don’t have to worry about benefits such as medical insurance or workers comp because your staffing company takes care of all of these perks. You can also avoid the risk of a bad employee hire, which can prove quite costly. At a time when U.S. inflation is at a 40-year high, lowering costs is essential.
Amalga Group can help you leverage the Workforce-as-a-Service model so you can better satisfy demand, compete on a global scale, and ultimately accelerate your growth. Contact us at info@amalgagroup.com to learn more.
