WaaS up HR?

Posted 14-Oct -2019

With the Internet and smartphone revolution, we no longer have any time and geographical boundaries. We’re always ‘ON’, forever connected, and can buy or get anything, anytime, on just a tap. The on-demand economy is replacing traditional business models faster than we anticipated. The services coupled with a couple of apps enable instant availability of goods and services.

What started as the fastest way to hail a taxi, Uberization has changed the way businesses perceive demand, provision the supply, and deliver.

For the employers, one of the major benefits of a services-delivery model such as software-as-a-service (SaaS) is the capability to quickly scale computing resources – networking, storage, and bandwidth – on a demand basis. IT simply adds more resources when they’re needed and removes them when they aren’t. What if you could do the same with personnel resources; that is, add teams of skilled professionals on-demand and release them once a project is over? That’s what Workforce-as-a-Service (WaaS) is all about and HR must be up for it.

A lot of HR professionals would agree that today, employee motivations have changed dramatically. Gone are the days of slogging to the same desk every day. Instead, modern workers understand the importance of developing skills, work-life balance, and earning their money without spending too much time in the office. As a result, a few companies are swapping office setups for cool co-working spaces and coffee shops and of course even our own homes or anywhere where employees feel liberated…

This shift toward independent, free working is changing the hiring game for the HR. Companies are breaking traditional hiring practices and recruiting freelancers and consultants to collaborate in groups on various short-term projects. This has gained popularity especially due to the emergence of the gig economy. A report by an HR tech platform, Noble House, confirms the mind-set shift of the HR with 81% of organisations hired freelancers/gig workers in the last one year.

The on-demand economy is here and growing and it is not unreasonable to expect that, by 2025, 30-40% of the workforce will represent the on-demand economy.

The WaaS model simply bridges the gap between the rising demand and supply of the freelancers/gig workers, wherein businesses can create their own flexible talent pool and access it as needed. Imagine if, for every product, you could hire the right talent, for the right job, at the right price, and at the right time. Wouldn’t that be great?

With this model, employers can scale their workforce up or down to match business ebbs and flows.
There are a few trusted portals, such as Noble House and Work Market that allow HR to access skilled and experienced professionals that are already vetted and registered with them. Services such as skills requirements, the scope of work, implementing compliance, ensuring process alignment and payments are offered by such portals to save time and cost of the businesses. And, with efficient tools, technology and data HR can find, hire and manage flex workforce with ease.

The WaaS model can be used by employers of all sizes. However, on-demand workforces can be especially beneficial to large enterprises with thousands of employees where millions of dollars are invested in labour costs.

With WaaS, HR can lower the labour costs, source niche talent beyond geographical boundaries and improve customer
satisfaction.

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