The first major federal tax overhaul in decades is now in effect – and there are already a few notable impacts for staffing agencies, particularly when it comes to per diem reimbursement policies. The old tax code allowed for “travelers,” or employees who accept assignments far from home, to deduct meal, lodging and car expenses […]
Recruiting and managing human capital is the bread and butter of staffing agencies. Unfortunately, when it comes to finding and retaining qualified, vetted workers, the staffing industry is facing several obstacles that could affect your growth this year – and beyond. Challenge No. 1: Shortage of highly skilled workers According to consulting firm G. […]
Every year brings new challenges and new opportunities for staffing firms. From fine-tuning your marketing to leveraging new technology to tapping into hot trends, here are our tips for growing your staffing firm in 2018. Analyze performance data. Using predictive analytics, hiring managers can now gain valuable information about the performance of every candidate. These […]
Every staffing firm knows how important it is to abide by the U.S. Department of Labor’s employment laws. Unfortunately, many temp agencies fail to comply with the rules established by the Wage and Hour Division. As a result, several employees may not receive the pay or benefits they deserve. Fortunately, the DOL provides all sorts of […]
Your staffing service provides a valuable commodity: people. And just like any other business, you need to ensure your commodity meets certain standards before it heads out your door to your customer. Performing a background check on your temporary employees gives you peace of mind knowing you’re sending out an employee who is a perfect […]
In a perfect world, you would send an invoice to a client and the client would send you a check upon receipt. But in reality, it hardly ever works that way. Instead, you send an invoice, and it could be 30, 60 or even 90 days before you get paid, which can make it difficult […]
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 […]
You’ve completed a TemPay application for temporary payroll factoring, been approved, and are ready to begin your funding relationship with TemPay. Now what? Here are the 3 steps to get your company ready for your initial payroll funding: TemPay’s processing department will advise you on our process and procedures and how to send your payroll/billing requirements to […]
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 […]
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 […]