A business plan is the blueprint you follow to build your company. It outlines all of the major aspects of the business and keeps its architects — you and your business associates — focused and aligned. But a business plan is also a document you’ll use as you work with other critical stakeholders, including funders, vendors and […]
Your payroll funding company is a critical partner to your staffing firm. It’s responsible for the essential function of paying your temporary employees when they ought to be paid as well as filing and paying your payroll taxes. If it went out of business, it’s your company’s reputation that would suffer. And your employees as […]
There may come a point in the life of your business that the prospects of growth, at least significant growth, in your home market are slim. When that happens, you may start exploring adding another office in a new market. By establishing a presence in a new geographic area, you can take advantage of previously […]
Having workers’ compensation coverage is necessary for staffing agencies, both to protect temporary employees in the event of an on-the-job injury or disability and to comply with regulatory requirements. Compliance in this area, however, comes with significant costs. In addition to penalties for failure to provide coverage, the cost of workers’ comp can be driven […]
Current market conditions, marked by low unemployment, favor staffing agencies. Last year, the staffing industry saw sales increase 4.4 percent, according to figures from the American Staffing Association. However, sales alone aren’t enough to guarantee success. To stay profitable, staffing firms need to keep their markup in mind as they pursue new business. Your agency’s […]
Payroll taxes and the administrative commitment needed to manage them are a necessary part of running your staffing agency. Firms can find themselves burdened with the many obligations required just to stay compliant and still know that they’re just one misstep away from a tax levy. Fortunately, mature and proactive payroll funding partners can take […]
If your staffing agency needs funding to grow, a bank is likely to be the first place you turn to. You may even have a relationship with a banking partner already, which can simplify your search. But traditional bank financing may not be your agency’s best or only option to fund growth. An established payroll […]
The new year is the perfect time to take a fresh look at your staffing agency funding partner. Maybe your business has grown, or you’ve added employees, or your needs have changed in other ways. If any changes have occurred, changing providers could save you money and help you be more productive in 2019. Here […]
Successfully meeting clients’ needs for qualified, reliable personnel takes planning, preparation and a certain amount of creativity. It’s even more challenging in a competitive, near-full job market. Here are seven tips for maintaining a steady flow of job candidates. Utilize technology. The latest talent acquisition technologies help staffing firms run smoothly by putting all the […]
From reviews on recruiting software to reports on market trends, payroll and labor management, the online staffing community is vying for your attention. Industry analysts and news sites can keep you abreast of trends. Personal blogs and stories “from the trenches” provide opportunities to network – and learn from your peers. So, where should you […]