The workforce is vital to a company’s success. It should not be underestimated. Companies need to adapt to evolving labor market trends to ensure a stable workforce population. Factors like the market, personal preferences, national economic outlook, and many others dictate or shape these trends.
Today, several institutions have observed an increasing trend of working part-time. A job that falls under a part-time job if it is less than 35 hours per week in most states though some are less hours a week. This article will dwell on the rise of part-time jobs, the factors that led to the rise, and the benefits it gives to companies.
Shift to Part-Time Jobs Rising
The Bureau of Labor Statistics reported that March 2024 had the highest number of part-time workers in the past ten years. It had 28.63 million workers. That is 17.73% of the workforce. Before this, the highest was July 2014 which had 28.03 million workers.
With this rise, a company could potentially have myriad applicants. Each applicant should go through an employment background check. This helps in a smarter, evidence-based decision on hiring. Your company deserves the best and brightest employees.
Reasons for Part-Time Jobs Rise
Non-Economic Reasons
Recently, the majority of those choosing part-time jobs are for non-economic reasons. It is voluntary. They opt for a part-time job for a better work-life balance, care for children and other reasons.
Post-pandemic Readjustments
The COVID-19 pandemic significantly influenced the current trend toward part-time work. As employees adapted to remote work and work-from-home setups during that period, the idea of long-term flexibility gained prominence.
Numerous workers realized to readjust their priorities in life. Some discovered that they should keep a balance between life and work. Some find it convenient to work remotely. Working part-time emerged as a practical and sustainable option.
Work and Life Balance
Building upon the previous point, the widespread adoption of work-from-home setups during the pandemic led employees to recognize the critical significance of work-life balance. This realization resonates particularly with those who have grown weary of the corporate grind.
While they acknowledge the necessity of work, they also prioritize setting aside time for themselves and their families. When full-time employment fails to strike that balance, part-time work emerges as a viable solution.
Economic Reasons
Two categories of workers—those who have been laid off and those who are struggling to find opportunities—are receptive to part-time employment. If hired, they fall under the category of part-time workers for economic reasons.
Their ranks may be modest, yet they are on the rise. Currently constituting nearly 11% of the workforce, their proportion has ascended to almost 12% within the past 12 months. This trend indicates a sustained growth in the contribution of this group within the part-time workforce.
Job Cuts
Numerous tech, media, and financial companies have recently laid off workers. And these workers are now looking for jobs. A significant portion of these individuals may find part-time employment to be a viable option. Given their work experience, many companies would readily consider hiring them.
Limited Job Prospects
Despite the robust job market, numerous candidates still face challenges in finding job opportunities. They have several possible options that they can consider. One possibility is for them to find a part-time job.
While a part-time job may not always be the ideal work setup sought after, it still offers significant benefits to the worker. Specifically, it provides both financial compensation and valuable work experience.
Recovery of the Service Industry
Related to limited job prospects is the slow return of the service industry. The service industry was severely impacted by the pandemic. This resulted in widespread job losses during the height of the COVID-19 outbreak. Even when pandemic restrictions were lifted, the recovery was slow.
But the industry has now regained momentum. It is actively recruiting workers. It’s important to note that the service industry remains a significant source of part-time employment opportunities.
Benefits to Employers
The rise can also be pointed to employers’ accommodation. Companies see benefits in offering part-time jobs.
Tapping into Diverse Talents
As previously mentioned, numerous individuals are eager to contribute their skills and talents to companies, but they prefer part-time work. Among them are mothers with children who can allocate a few hours each day for work. Additionally, retirees often find part-time employment appealing.
Get them on board. Get to know them through each one’s pre-employment background check. The company will greatly benefit from their skills and experience.
Keeping the Operational Cost Down
One main concern of companies is keeping the operational costs down. This is very true with a start-up or small companies. Hiring part-time workers can help with this. You do not have to pay full-time for these workers. If they work remotely, you save on office space and utilities.
Additional savings emerge in the realm of work benefits. Part-time positions typically do not entail the provision of benefits. Work benefits represent a substantial portion of operational costs.
Workplace Flexibility
After the pandemic, companies have adapted to accommodate remote and part-time workers. They find these setups highly feasible. Part-time workers can cover hours that full-time workers cannot. They can also be available for on-call or seasonal work.
These arrangements contribute to stability in productivity. Through part-time jobs, workers are available at all times and throughout various seasons.
Enhance Staff Morale
Employing part-time workers can significantly boost morale in the workplace. They effectively cover the non-working hours of full-time employees, eliminating the need to pressure full-time staff into overtime.
Additionally, part-time workers play a crucial role in compensating for seasonal work surges, ensuring both productivity and employee well-being. This approach not only enhances morale but also reduces the risk of burnout.
Boosting Overall Productivity
Considering all the previously mentioned benefits, companies should seriously evaluate hiring part-time workers to enhance overall productivity.
Target high-performing candidates who will help elevate team productivity. Incorporate a thorough employment background check as part of the hiring process.
Part-time work set-up is on the rise. It has become a feasible option for many workers after the pandemic. It can be for non-economic or economic reasons. For companies, it is important to take notice of this. Part-time workers bring benefits to the company. However, companies must conduct a comprehensive candidate pre employment background check. This ensures that the benefits will be reaped.
