Challenges of Applying Contemporary Approaches to Hiring New Employees in Dynamic Business Environment

The aim of this theoretical paper is to highlight the contemporary trends in hiring new employees and how they can help to improve company's flexibility in a fast changing business environment. The 21st century HRM reveals the emerging need of innovative approaches to hiring new employees. The trends in new employees hiring, as staff leasing, temporary staffing, outsourcing, crowdsourcing, and co-employment appear to help companies gain stability in unstable times. We presume that the contemporary approaches to new employee hire in Bulgaria can improve companies' flexibility and strengthen the chances for stable development while operating in conditions of highly dynamic and competitive environment. On this ground, the advantages and disadvantages of the contemporary approaches to new employees hiring are elaborated. Outlined are some of the most common problems that small to medium sized companies in Bulgaria face about choosing the right Professional Employer Organization. Suggestions for handling them are given. We consider that in the Bulgarian scientific publications studies on the positive outcomes of contemporary approaches to new employees hire are still limited. With this study we intend to direct the attention of the Bulgarian human resource management researchers to the topic, provoke further discussion related to the Bulgarian business and workforce environment in 21st century, and contribute to the researches on the theme in Bulgaria.