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 […]

Why is payroll factoring an effective form of financing for small businesses?

Payroll factoring is a perfect form of staffing agency finance for small businesses because the process is quick and easy. In payroll factoring, you sell your accounts receivables invoices for a fee to obtain immediate cash. Your clients then pay the factor. This type of staffing agency finance allows you to manage your agency’s cash […]

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. […]

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 […]

Staffing software can help your business grow

Making this the best year ever might be a part of every annual New Year’s resolution, but over the next 11-plus months, you actually have a realistic chance of hitting the mark. As the U.S. economy picks up, employees have more options than they’ve had since the Great Recession, and they’re starting to get choosier. […]

Nurturing a Liquid Paper kind of company culture

Yes, it really was a harried typist who invented Liquid Paper as a quicker and neater way of correcting typing errors. Her name was Harriet Nesmith Graham, and she led the secretarial pool at Texas Bank and Trust. And because reality is often more fascinating than fiction, she was the mother of future Monkee Michael […]

Owning your niche: How your staffing agency can outmarket the competition

There were approximately U.S. 22,400 temporary help and permanent placement firms that had been in business more than a year in 2007, according to the most current U.S. Economic Census data available (American Staffing Association). As a result of the intense industry competition, more staffing agencies are changing their focus to specific niche services such […]

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 […]

What are the advantages of financing through a payroll factor?

Financing through a payroll factor allows your staffing firm to quickly receive the working capital you need to operate and grow your agency. In payroll factoring, you sell your accounts receivable invoices to the factor for immediate cash, and your clients then pay the factor. This is a tremendous benefit in an industry in which […]

How to Grow Your Staffing Agency With Payroll Funding

Staffing services continue to be in demand because, during an economic recovery, businesses are hesitant to hire full-time employees and instead are seeking a flexible, low-cost alternative. Staffing Industry Analysts reports staffing revenue in 2013 is expected to hit nearly $135 billion, exceeding prerecession revenue levels. Whether you’re starting a staffing agency or have been […]