Hiring on a project-by-project basis is a booming trend...

As Baby Boomers reach what used to be considered retirement age, many are opting to keep working – just not full time. Companies hire these semi-retired workers on a project-by-project basis, which gives them the ability to work for a certain length of time, then off for a period of equal or greater time.

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These arrangements are not only desirable to semi-retired professionals, but are also attractive to employers. With more industries facing a critical shortage in talented employees, many businesses are eager to contract with experienced project-based workers, making the cyclical or project-based workforce an increasing trend in today’s business market.

Hiring strategically on a project-by-project basis can benefit your business. Acquisition of talent becomes a variable expense rather than a fixed payroll cost, allowing you maximum flexibility in a rapidly changing business environment. You can focus in on the specific expertise needed for a particular project for exactly the period of time it is needed, thereby maximizing your return on human capital investment. Contract workers can begin working in a matter of days instead of the weeks or months it typically takes to recruit and hire permanent employees. Furthermore, many companies have found that the use of project-based talent can help minimize burnout and increase retention of permanent staff by reducing workloads.