Advantages of Payroll Funding for Staffing Companies

Being the middle man can have its disadvantages, especially if you’re a staffing agency. The payment structure that makes staffing agencies profitable – invoice for services – causes delays in payment processing that can make it difficult to pay employees on time. However, there are organizations that specialize in payroll funding for staffing companies that […]

Full-service versus money-only payroll factoring

Most factoring companies offer two payroll factoring options: money only and full service. Money-only factoring is strict payroll funding without any additional services. With full-service factoring, the factor provides administrative support, including filing payroll taxes, sending invoices, paying temporary employees and making collections. Both options have their merits, and your choice depends on your staffing […]

Why staffing agency software isn’t just for large firms

Staffing agency software is designed for a wide range of staffing agencies — regardless of employee size, revenue or the complexity of your operations. It can be tempting to think that smaller firms can get by with spreadsheets and generic accounting software, but that’s just not the case anymore. Today’s best staffing agency software solutions […]

Why your payroll funding strategy can help – or hurt – your marketing efforts

Investing in marketing initiatives such as social media, direct mail and paid advertising can help your staffing firm move the needle on building your client base. But if you’re trying to keep costs in check, marketing is often one of the first investments that gets cut from the budget.   Want to make marketing a […]

Limitations of Bank Payroll Funding

When you’re starting a staffing agency, a bank is often the first place that comes to mind when you’re looking for payroll funding. However, just because banks are the traditional means of finance doesn’t mean they are the right option for your business. There are several downsides to bank payroll funding.   It takes time. […]

Temporary staffing employment screening: How often, when, why and how?

Screening your temporary staffing employees is critical — you want to make sure the workforce you’re sending out is appropriate for the job and protect yourself against any potential liabilities. “We screen employees on a daily basis,” says the vice president of sales and operations at a large Cleveland-based staffing firm that specializes in the […]

What to Look for in a Factor

Deciding to pursue temp factoring is the first step, but what should staffing firms, including those who are starting a staffing agency, look for in a factor? Bruce Friedman, Business Services & Outsourcing Partner at BDO, recommends asking peers within the staffing industry for referrals. “Ask around and see if you know somebody who has used the […]

Determining your staffing niche

To determine your staffing niche, think about the intelligence and experience of yourself and your key management personnel. Then evaluate your strengths and weaknesses to determine where your center of expertise lies.   If you have experience as a temporary staffing employee in the administrative niche, it makes sense to target that niche because you […]