Economic uncertainty adds to appeal of flexible contracts
By Annabel Cooper
At a time of great economic uncertainty when companies may not have the capacity to hire new full-time employees, or may need a qualified employee urgently, the option to use local consultants with experience and understanding of the Bermuda landscape is providing a lifeline to various local and international businesses in Bermuda.
Ahead of the curve in this respect, Frontier Financial Services has been a mainstay of the Bermuda recruitment and consulting market for over 20 years and has been growing in recent years. One of the main reasons for this recent growth says Frontier’s Chief Operating Officer, Keith Szmierek, is the current economic situation.
“Right now, the pandemic has created a lot of uncertainty in the market and this has companies facing headcount and budget limitations. With the ongoing need for resources that understand the Bermuda market, one viable option in times of uncertainty is the use of a local consultant on a temporary basis,” says Mr. Szmierek.
Consulting provides opportunities to both employers and potential employees. Several companies, as well as Bermudians displaced by the pandemic, have been taking advantage of this niche in the market in recent months. Employers get access to top local talent and keep the roles and responsibilities based in Bermuda without having to make a permanent commitment while they are focused on getting through the pandemic. The displaced workers are gaining great experience to prepare themselves for permanent opportunities when they arise.
Mr. Szmierek went on to say “Frontier is amongst the market leaders and there is comfort to employers knowing they have access to a consultant on island with the relevant background and experience.”
While the permanent side of the recruitment business has “certainly suffered” during the pandemic, we have seen positive signs recently that the new class of start-ups are providing a much-needed boost to all aspects of the recruitment business. The Class of 2020 is offering new permanent roles.
This, combined with a noticeable increase in hiring activity for existing employers has caused Mr. Szmierek to be optimistic as we start to come out of the pandemic. Mr. Szmierek has been further encouraged by the number of Bermudians being hired for these permanent roles and in support of this effort, pointed out that Frontier decided early in the pandemic to offer our clients significant discounts when hiring Bermudian candidates.