Full-Time Employees (FTEs) vs. the Catalant Expert Marketplace
Traditional employment models aren’t well suited for flexibly meeting the demands of a world in flux. Widespread uncertainty and volatile markets are compelling leaders to reduce and variabilize fixed labor costs. At the same time, your organization still needs similar capabilities — and results — to keep the business moving and to execute your rapidly evolving strategies. Or, you may need new capabilities to explore promising but uncertain opportunities.
Fluctuating Reductions and Increases in Your Workforce
Acquiring, educating, and retaining FTEs — while necessary at times — are expensive and slow ways to contract and expand workforce capacity to meet volatile market demands.
Example Cost Factors
Full-Time Employees vs. Elastic Workforce
There are myriad cost factors to consider when comparing a traditional full-time employment model to the flexibility of an elastic workforce, especially if powered by a tech-enabled marketplace. Below are examples of some of the costs to consider and a couple ways to think about the costs associated with full-time employees.
These costs reflects things you pay out — like salaries, benefits, and external recruiters — and are easier to measure.
These costs are most frequently associated with opportunity costs, such as lower potential output due to the limited capacity of current resources.
Individual FTE Cost Reduction Calculator
Our tech-enabled marketplace for elite independent service providers reduces workforce costs by 60%+ — and provides elastically scalable strategic capacity.
The math for hiring and firing full-time employees just doesn’t add up during times of unpredictable demand. Leaders across top global companies — including more than 30% of the Fortune 100 — tell us Catalant’s Expert Marketplace helps them operate more leanly while ensuring their most important work gets done, fast.
Catalant’s Expert Marketplace, delivered through its world-class technology, has become an enabling resource for GE. It empowers our employees by giving them streamlined and efficient access to the right expertise, helping us work smarter and faster.
Former Chief Innovation Officer at GEFormer CEO of GE Ventures
Workforce-Wide Cost Reduction Calculator
Leveraging the Catalant Expert Marketplace at scale across your workforce leads to astronomical cost reductions and heightened business agility.
Cost reductions from using Catalant’s Expert Marketplace at scale alongside your core full-time employee base are dramatic. Reimagining the composition of your workforce with flexible talent not only helps you better manage costs, it also unlocks business agility with critical capabilities that your organization needs to accelerate its most important work.
Let Us Help
Take a look at traditional consulting firms as a potential source of cost savings from using the Catalant Expert Marketplace.
Traditional consulting firms aren’t right-sized for the work many companies need right now, and can no longer camp out in clients’ offices due to public health concerns and an increasingly digital workplace.