Staff leasing could allow your company to increase its productive output without burdening you with administrative tasks that come with hiring a new recruit. But to be able to make the most of this strategy, you first need to know how it works.
Staff leasing is an outsourcing model that allows companies to outsource workers through a Professional Employer Organization (PEO). However, you - as the client - are still responsible for managing the outsourced team through a team leader who will work alongside the leased staff.
Here is a summary of the steps you need to take if you want to implement this model:
- See if the benefits of staff leasing are favorable for your business. Inquire through your PEO about the positions and job descriptions that you need, and raise some concerns if you have any.
- The PEO will provide you with a comprehensive proposal where you can read and understand the scope and objective. Be mindful of the key information you need and ask questions if you find that there are details that need more clarification.
- Sign the proposal and contract if you deem it sufficient.
- Go through the recruitment process to find the appropriate leased staff.
- Select and hire qualified applicants.
- Plan and implement their starting date, onboarding process, and training plan.
- Evaluate the recruited employees. The PEO will find you a replacement if necessary.
Learn more about staff leasing and its advantages and disadvantages in the infographic below.
Author: Carmen Booth works as a managing partner for Booth & Partners. She is passionate about helping companies optimize their operations and improve business performance. In her free time, you can see her attending an indoor cycling class or spending time with her family.