Managing risk in a staffing agency

Staffing, as with every industry, has its own unique risks that owners and managers must manage. These range from customer credit to contracts and agreements, which must be controlled to avoid potential penalties. Credit With recourse factoring, the type of factoring most payroll factors — including TemPay — provide, the staffing firm assumes the risk […]

3 ways the ACA impacts staffing agencies

With the enactment of the Affordable Care Act, employers have been confused about its impact on staffing firms. Now that the final rules have been released, there is a clearer picture of how this act affects staffing firms and their employees.    In most cases, the burden of adhering to the ACA falls on the […]

Managing risk in the staffing industry

With any business comes risk, and the staffing industry, in particular, faces unique risks in terms of workers’ compensation insurance, cash flow problems and contract/agreement needs.   Mismanaging or ignoring these risks can land your staffing firm in serious trouble and they need to be occasionally revisited to ensure your firm minimizes its risks and […]

How does payroll factoring compare to an accounts receivable line of credit?

While both payroll factoring and accounts receivable lines of credit deal with accounts receivable, they are, in fact, two different types of staffing agency finance.   • With factoring, staffing agencies sell their accounts receivable invoices for a fee to obtain immediate cash, and their clients then pay the factor.   • An accounts receivable […]

Welcome Back, Brian!

Brian Keuper has returned to TemPay following a year of working in-house for TemPay’s largest client. Brian is senior vice president of credit relations, responsible for the credit and collections department and maintaining client relationships. He has more than 30 years’ experience in credit risk management. TemPay is very pleased to have Brian rejoin the company.

Choosing a Source For Payroll Funding For Staffing Companies

Choosing a payroll funding source is much like choosing a pair of shoes: You need to try each one on to determine whether it’s the right fit, because all are not created equal. So how do you decide which firm is right for you?   Seek advice from your peers. Ask others in the industry […]

Factors Do More Than Payroll Funding: Full-Service Support

While payroll funding is a huge part of every staffing firm factor’s business, it’s not the only service a factor provides. Factors offer a type of staffing agency finance called payroll factoring. With factoring, staffing firms sell their accounts receivable invoices for a fee to factors and gain cash up front to pay their employees […]

Starting an Employment Agency Begins With Industry Experience

The market has been ripe for those interested in starting an employment agency for a while now, and the outlook only continues to improve. In the three years since the end of the recession, the U.S. staffing industry has created more jobs than any other industry in America, according to the American Staffing Agency. Bureau […]

2013 Staffing Resolution List

While people often make personal New Year’s resolutions, making them for your business is just as, if not more, important. Here are five resolutions staffing firms should make in 2013, according to C. Adam Forbes, president of BaronHR.   1. Know when to say no. Staffing firms are presented with a lot of opportunities for […]