How Staffing Companies Can Raise Satisfaction Ratings

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Every year, CareerBuilder and Inavero publish a study called “Opportunities in Staffing,” a comprehensive guide designed to help staffing company owners navigate the industry. Based on the responses of staffing agency employees/candidates and clients, the research offers a great reflection on where the industry is headed.

Now, while the staffing industry is pulling in more total revenue this year than any other point in its history, the 2015 data reveals that client satisfaction has decreased this year. Now, it is more likely that clients of staffing agencies will give negative referrals on review boards and to colleagues in the same line of work. Obviously, for staffing agencies, this is bad news.

So, how can you ensure that your staffing firm is reversing this trend, and providing client companies a satisfactory service?

Invest in your candidates, employees.

If you want your staffing firm to stay ahead of the curve and get those positive reviews, make sure that you are providing your clients with a competent pool of labor. Surprisingly, the CareerBuilder survey found that around 90% of job candidates said that their firm gave them no training prior to being placed. The solution is simple—make sure that your employees and candidates are prepped for the post to which they are contracted. Review their resumes, conduct mock interviews, and make sure that they are as versatile as can be. Ensuring that they are ready to handle the job before they arrive can do wonders for you firm’s credibility.

Engage your clients from the get-go.

How you interact with your client companies after you fill a position is far more crucial than you may anticipate. When working with new clients for the first time, be sure to follow up on problems that they report within 24 hours. Make sure to question the client and thoroughly understand what kind of worker they need to fill their position, and then offer them realistic expectations that they can set for the employee you plan on sending—those three things can make your firm nearly 60% more likely to be referred to positively.

Stay involved.                                                 

Do not neglect either the candidate or the client after a position has been filled. If either contacts you, respond within the day. Fix any problems as soon as possible, and check in from time to time with both. Make sure that the relationship is a smart fit. The more you engage, the more you stay involved, the happier the employee and client will be.

If you and your staffing company follow these guidelines and pay attention to the needs of your employees and clients, you should be able to expand your staffing firm with few problems. But, wise staffing company owners are looking for other ways to expand, too. Start financing your firm in the most efficient way possible with invoice factoring. Does your credit prevent you from getting reasonable bank loans? If so, invoice factoring can provide you with a fast, steady, debt-free cash flow. Get in touch with Factor Finders to get the answers to all of your questions about invoice factoring for staffing companies, and start expanding.

Staffing Industry Revenue Hits $142.4 Billion

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It is no secret that the American staffing industry is strong, and getting stronger. Its growth has been well documented and publicized in recent years.

And, recently, another significant piece of “good news” has surfaced. The United States’ staffing industry total revenue will have increased by 7% before the end of this year, followed with a projected 6% augmentation in 2016, bringing the total revenue to an all-time-high of $142.4 billion, according to Staffing Industry Analysts (SIA).

This growth has surpassed the initial projections casted at the beginning of 2015. What has bolstered this unpredicted surge is the large expansion of healthcare staffing, finance/accounting staffing, IT staffing, and the demand for temporary, skilled industrial labor.

The Affordable Care Act is much to thank for the total increase in the health care faction of temporary staffing. Because of the ACA, bill rates have shot up, pouring more money into the industry.

It is truly great to hear that the industry is growing far more than what was expected. Surpassing great expectations is rather rare, so this has been quite a feat. Wise staffing company owners are looking to capitalize on this good fortune and expand their businesses. But, it is very hard to do that with an inadequate cash flow. Is bad credit preventing you from getting a bank loan? Do you feel as if waiting for your business partners to pay off outstanding accounts receivables is preventing you from taking your company in the direction that it should be going? If so, then ought to look into staffing invoice factoring. Factoring for staffing companies offers owners a unique set of benefits that other methods of financing simply cannot. Start using your money wisely, and take advantage of the favorable economy.

Staffing Agencies: 5 Ways to Reel in the Best Recruits

Staffing companies want to provide their clients with the best labor pool possible. A strong, experienced, and capable staff will attract organizations in need of workers to your staffing agency, and you will profit greatly. But, the key is to attract the best works to your agency. Recruiting in the business world is an art that a savvy owner must master. Try implementing the following tips the next time you are recruiting and give your agency an edge over the competition.staffing companies

Be approachable online.

In 2015, the majority (if not all) of applications for vacancies are done online. Therefore, your recruiting webpage that asks potential applicants to submit their resume/cover letter is remarkably important. Be sure to keep it neat, simple, and concise, with clear instructions as to how interested workers should contact you. Forbes magazine also suggests that you not include language that deters or intimidates applicants. For example, never put “the failure to do (such-and-such) will result in your application not being considered.” Such language is rude, and does not make your staffing agency attractive for new talent pools. Use softer language and be more inviting.

No Auto-Responses.                                          

So many companies have programs that send an automatic message that confirm the receipt of an online application. If you want to set your agency apart, ditch the automated system. Personal responses are far more inviting, friendly, and professional. If completely forgoing the automated response just isn’t practical, try your best to make your automated message as human-like as possible.

Use your voice.

Once you see that you have received some applications, do not hesitate to call the number that the applicants have given you. This can be a surprisingly valuable practice. It immediately shows you who has the interpersonal skills necessary to communicate well on the telephone, and it can help you narrow your list of choices down without having to interview everybody. Talk to applicants on the phone, find out who you like, and schedule interviews accordingly.

Referral benefits.

Most people don’t think to utilize their current staff in order to improve it. But, it is important to remember that the workers in your staffing agency have made professional connections throughout their careers and potentially know workers who would be a perfect fit for your company. So, offer them a little bit of an incentive to do some recruiting for you!

Boast your workers’ success.

Applicants who have an interest in working under a staffing company generally have long-term ambitions of finding a full-time position down the road. If your staffing agency successfully helps workers find that coveted position, flaunt it! There is nothing wrong with showing off your agency’s ability to get workers’ careers rolling.

Using the aforementioned tips will give your staffing agency a personal, approachable feel and will help you pull in top-notch recruits. If you are looking for other ways to stay ahead of the game, consider increasing your cash flow and expanding your agency by invoice factoring. There are a multitude of benefits that come with staffing invoice factoring, so contact Factor Finders and start your path to success.

Staffing Company Owners, It’s Time To Expand!

In today’s economy, it is very beneficial to be an owner of a staffing company. Temporary and contract workers are in high demand throughout all sectors of the workforce, and everybody involved in the industry is happy—the employees themselves, those who contract the workers, and of course, the owners of staffing companies! Here are four reasons why the industry is thriving and gaining popularity, and why you should consider expansion.

Employees Want to Work for Staffing Industry to Find Full Time Positions.

For employees of staffing firms, a chance to be a temporary worker is generally great for their future. An American Staffing Association (ASA) study show that when temporary workers are on assignment, 76% get full time hours, and 35% of companies offer workers permanent, full-time positions at their organization after their contract has expired. Additionally, ninety percent of staffing industry workers say that their experience as a contract worker made them more employable in the long run. In brief, it benefits laborers to spend time in a staffing company.

The Industry is Big, and Growing.

American staffing companies employ over 14 million workers each year, according to the ASA, making the industry a significant contributor to the national economy. And owners of staffing companies should be very happy as 2015 ends and 2016 begins. The Staffing Industry Analysts project that the temporary staffing industry is set to grow 6% this year, and another 5% next year. Owners, now is the time to look to expand your business.

Every Industry Needs Temporary Staffing.

Temporary staffing holds a unique, multifaceted niche in today’s economy. Staffing companies can cater and provide their services to virtually every type of organization, from industrial manufacturers to healthcare providers. Here is how temporary workers are dispersed throughout the current workforce, according to the ASA:

  • 37% work in the Industrial sector
  • 28% hold positions in Office-Clerical and Administrative work
  • 13% do Professional-Managerial work
  • 13% are Engineers, IT Specialists, and Scientific researchers
  • 9% work for Health Care Providers

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In short, the staffing industry is thriving right now, and, as said earlier, it is on the rise. Now is the time to increase the size your staffing company. However, expanding staffing companies can be very difficult financially. Don’t let the challenges of expansion discourage you from reaching your long-term goals. With invoice factoring, your staffing company can get access to a secure, steady cash flow that will help your company immediately. Factor Finders are experts at helping small and emerging staffing companies grow and reach success.