Advantages of Payroll Funding for Staffing Companies

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 […]

Statement-of-work contracting is on the rise: what it means for your staffing agency

The growth of contract employment reflects a larger shift in the way that companies are operating. By using a blended workforce model that includes both direct-hire employees and contract workers, companies enjoy greater flexibility, leading to cost savings and other benefits.   Statement-of-work (SOW) contracting takes the idea a step further by giving your clients […]

Workers’ comp: 3 things you aren’t doing that could hurt you

By law, your agency — not your clients — is charged with providing a safe work environment for your temporary employees. This means ensuring they have the right equipment and training to do their jobs safely, and providing workers’ compensation coverage to protect them in the event of injury or disability.   Failure to provide […]

How and when do I receive money from my factored accounts?

At TemPay, we pride ourselves on our quick and easy payroll factoring application process.   When you contact our sales department, a sales representative will collect information about your staffing agency. You will then complete a confidential credit application form that includes both personal and business information.   After receiving the application, TemPay will initiate […]

How to Start a Staffing Agency

Starting a staffing agency can be stressful, as there are many pieces and parts with more than some assembly required. Tips on how to start a staffing agency can make the journey easier.   Create a business plan. This will not only keep you organized but also inform lenders or vendors of your company’s stability […]

Factoring Companies 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 factoring company 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 a factoring company and gain cash up front to […]

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 […]