Question: How to Leverage Staff Augmentation Amid the Pandemic

The pandemic has changed how businesses around the world run their operations. Much of the change can be attributed to the heavy strain created by wor...
The pandemic has changed how businesses around the world run their operations. Much of the change can be attributed to the heavy strain created by work fluctuation. It is hard to plan for the future with the uncertainty that the virus has brought to work and supply chains. Businesses have been forced to make the difficult decision to furlough or lay off staff to stay viable, but running with an intentionally lean staff then makes it difficult to complete short-term projects. Productivity drops. What this looks like is unfinished projects, strain on existing employees, and/or gaps in experience. As the organizations learn to operate within the new reality, more companies are looking toward staff augmentation as a way to stay afloat and even scale.

Staff augmentation makes sense for many companies because they have the flexibility to stop and start the engagement at any point if they are financially hit. The knowledge that you can disengage from the agency providing the service makes it an attractive alternative to hiring, especially during this time when being able to guarantee job security isn’t possible.

The hiring process for a full-time employee (FTE) is normally time-consuming and costly. Even if you find an ideal candidate, there is still an onboarding process, which also takes time. Under normal circumstances, all of this is typically completed without much concern, but when businesses are battling with the pandemic, it can seem overwhelming. That’s why staff augmentation can be the right avenue in which businesses can address needs quickly...

Source: The Staffing Stream

Michael Lee
Principal, Wealth Advisor & Focus Team Lead

With over 10 years of experience as an advisor, Michael brings a laser-focused approach to holistic wealth management. His first foray into retirement planning was when his mother retired from Kaiser Permanente Walnut Creek. As a first generation American, Michael had the duty of translating for his family – and he felt, firsthand, the stress and anxiety that large financial decisions can cause for

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