While the Affordable Care Act is at the forefront of the minds of many of those in the staffing industry, there are other regulations that also warrant attention. While not all may apply to your firm, they are hot-button issues that may crop up in the staffing industry in the future. Wage theft prevention/right to […]
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 […]
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 […]
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 […]
Health insurance marketplaces will open Oct. 1. By this date, all businesses subject to the Fair Labor Standards Act — typically those with at least two employees and $500,000 in revenue per year — must notify full- and part-time employees about the marketplaces. This notification requirement also applies to staffing firms. You must […]
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 […]
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 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 […]
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 […]
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 […]
