Biggest Marketing Mistake Made by Staffing Companies

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Business growth

Business is booming all across the United States. Just a few days ago, it was announced that September saw 200,000 new jobs added to the American workplace. This spells good news for every industry in the economy, especially the staffing industry.

Obviously, it is a great thing for the American staffing industry when businesses of all sorts are looking to hire new employees. This is an opportunity for firms to place their workers and, hopefully, to expand in accordance with the market. And, the most successful staffing firms around the country are doing exactly that.

However, the vast majority of staffing companies will not be maximizing on this ideal economic situation, largely due to problems with their marketing campaigns. A recent survey from the Staffing Industry Analysts (SIA) reveals that there is a major communications disconnect between staffing firms and their clients.

It turns out that customers overwhelmingly care the most about the quality of labor provided by a staffing industry. And that makes sense, right? Customers want to contract the most capable, qualified temporary workers available. The SIA survey shows that over fifty percent of staffing industry customers placed worker quality as their top priority, and 78% placed it in their top three most important traits.

Managers of staffing firms seem not to understand this, though. In the same SIA survey, only 18% of staffing companies reported that they boast their workers’ quality above all other attributes.

So, in case you are not already, change up your marketing strategy and flaunt the skill and experience of your workers! It will help you take advantage of the escalating employment rate and increase the size of your business. Looking for further ways to expand? Get in touch with Factor Finders and get the cash flow that you need in order to help your staffing company thrive. Invoice factoring for staffing agencies is the best form of alternative financing, and it can help your enterprise reach its long term goals. Request a quote, get funded, and watch your staffing company flourish!


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.

Statistics Your Staffing Company Needs to Know

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Staffing Companies Are an Open Window

Every year, the staffing industry supplies jobs for around 14 million Americans a year. That’s a lot of people! Working with a staffing company is beneficial to all parties involved. The employers don’t have to take the time out of their day to search for candidates, they will have skilled professionals who know exactly what to look for. The potential employees don’t have to spend the time filling out multiple applications to jobs they might not even qualify for. The staffing firm will partner them with the right company based on their experience and skills. Finally, the staffing firm itself creates a larger network of clients and keeps the cycle moving. Everyone is happy. It’s a safe haven for both job seekers and employers to go where they know they will get results.

Many job seekers say that going through a temporary staffing company to get a job is a way of leading them to a permanent job that they couldn’t get on their own. Nine out of ten employees said that staffing work made then more employable on their resumes. One-third of employees are offered a permanent job by a client where they worked on an assignment, and two-thirds of those offers were accepted.

Breaking Down the Numbers

Permanent employment may be the prize for a lot of job seekers, but it’s not for everyone. One in five employees that go through a staffing agency say that they chose temporary staffing because of the scheduling flexibility. Temporary staffing is also a great way to gain experience while employees have another part time job, or are in school. On the flip side, if employees have done the temporary jobs and are ready to settle in a permanent position, they can look into permanent placement positions.

Here is the breakdown from the American Staffing Association showing industries in which employees work with staffing companies:

37% Industrial

28% Office–Clerical and Administrative

13% Professional–Managerial

13% Engineering, Information Technology, and Scientific

9% Health Care

Looking at these percentages, 37% of employees are placed in an industrial position. This means there are a lot of industrial companies that need temporary and permanent employees. There numbers are something to look at if your small staffing firm is looking to branch out into other industries. Looking at the satisfaction ratings of employees working with a staffing firm, 41% are extremely satisfied with their experience while only 3% are not satisfied at all.

How Your Staffing Company Can Expand its Horizons

As a staffing company in a large industry, it is in your best interest to keep a client returning for their future staffing needs. What should you do if your company has incoming expenses but slow incoming invoice payments? You may be thinking you should head to the bank for a loan. But that could take weeks or even months to receive. If you need money right now to keep your staffing agency growing, you should turn to a staffing factoring company. Invoice factoring is quick and easy and will give you advanced capital in hand within 24-hours of being approved. Factor Finders is your one-stop shop for payroll funding and can also provide staffing firms back office support and payroll services. What are you waiting for?

Interview Tips Essential to Successful Staffing Companies

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Optimizing Interviews for Staffing Companies

Interviews at staffing companies are a completely different ball game. You are the middle man that stands between a company image, and its potential employees. Relationships are being built on both ends. When you are working with busy clients who need you to do the hard work for them, you have to be on top of your game. Finding candidates who will best suit the needs of your client is vital. With that being said, you must be able to conduct the most effective interviews. Check out these interview tips for staffing companies to make the whole process run smoothly.

5 Steps to Becoming a Better Interviewer:


Be Willing to Go Off the Beaten Path:

You may have a set list of questions that you ask every potential employee, which is great to have ahead of time. Although, never be afraid to get away from that. Sometimes a candidate will answer a question of yours that will then prompt a new question that you just thought of. If it will in the end help you decide if they are good fit, absolutely ask it. Going in a different direction than what is on your agenda sometimes turns out to be a better route.

Be Welcoming:

No matter what way you look at it, interviews are nerve wracking. Creating a welcoming environment is a way to cool down the tension. If you jump right into the tough questions with a candidate, they will most likely freeze up on their answers and set the precedent for the rest of the interview. Small talk, as generic as it may seem, can help relax e a candidate into feeling more comfortable. This will then ease both you and the candidate into engaging in thoughtful conversation. This plays an important role to staffing agencies who are relying on finding the best person for the job to please their clients.

Take Notes:

Taking notes not only makes the candidate feel like you are truly listening to them, it helps you remember what they said in that interview. It is also suggested to mark something that stood out about the candidate, just so you can remember who is who. Staffing companies are constantly conducting back to back interviews, being organized is key. When it finally comes done to choosing the best candidates, having notes will make the process much easier.

Be Clear:

Once you sit down with the candidate, you need to be 100% clear on what the position is for. This marks a clear line of what will be expected of the candidate. This will save you and the interviewees a vast amount of time. Your clients will also benefit from this as there will be no confusion on their end once they meet with the potential employees. Remember you are interviewing through the eyes of the client as a staffing company.

Sell the Company you are Supporting:

As a staffing agency, you need to act as if you work at your client’s company yourself. Tell the client some things about the company they are applying with that may stand out from others. Talk about the company dynamic and culture that might strike a chord with the candidate. Showing your client’s company in a positive light will be appreciated by your client and help you find the best candidate for them in the long run. Ask your candidate what they are looking for in a company, what excites them, and what they didn’t like about their previous workplace. Their answers will also help you gauge whether they will be a good fit for your client.

Staffing is a fast moving industry. In order to conduct these perfect interviews, you need a great team. Free up some working capital for your staffing agency through invoice factoring. Factor Finders will partner you with dedicated factoring companies who will increase your capital so you can provide the best services to your clients.


Staffing Industry Ads 11,400 Jobs Despite Economic Stagnancy

Small business graphThus far, 2015 has been a good year for the American people, as both January and February ushered in significant sums of newly-created jobs in the national economy. However, a recent report by the U.S. Labor Department reveals that the number of jobs created in March stands at only 126,000, down significantly from earlier in the year.

According to the New York Times, the nation’s most prominent economic analysts are pinning the blame on the low market value of oil. Although the cheap gas prices is a much welcomed occurrence for the greater American public, those whose livelihood rests in the oil and energy sectors of the economy are hurting, as there have been thousands of jobs lost in layoffs and forced retirements as compensation for the low price of oil.

Moreover, the low March tally for job growth has caused the Department of Labor to recalculate their totals from January and February of 2015, slashing 69,000 total jobs-added from their previous estimates. Their new figures unveil a more accurate depiction of 2015’s success, as it turns out that there were actually just shy of 200,000 jobs added in February and January.

The report also found that unemployment remained unchanged in March, resting at 5.5%. Hourly wages rose 0.3 percent nationwide, though hours worked decreased, leaving the average income unchanged, unfortunately.

Nonetheless, even with the national economy’s stagnancy, the staffing industry was able to boast a successful March, as the sector boasted 11,400 new jobs, a 0.4% increase from February. The American Staffing Association reports that the sector has grown 5.3% from its 2014 totals, proving the prowess of the staffing industry in the modern economy.

So there is good news for those who work in the staffing industry. Even though the national economy’s growth has slowed to a lethargic trot, their sector of the economy is flourishing and adding jobs at a promising rate.

Government officials are urging Americans not to get dismayed with the slowdown in job growth. Thomas E. Perez, the secretary of labor, urged the American people not to be discouraged, however. On the subject of his department’s recent report, he remarked, “It was lower than expectations, without a doubt. But I’ve always said that one month never makes a trend.” As a matter of fact, hoping to rhetorically keep moral high among the nation’s workforce, the secretary retorted that if somebody were to have told him at this time last year that unemployment would only be at 5.5% (as opposed to the 6.6% level in April 2014), he would have assumed it was an April Fool’s joke. Hopefully, the labor secretary’s optimism is well-warranted, and the national economy will be able to follow the trend set by the staffing industry.


Study Reveals Detriments of Depression in the Workplace

Frustrated business person overloaded with work.Unsurprisingly, the old shibboleth that busy hands are happy hands does not always ring true in the workplace of the twenty-first century. It is common sense that depression hinders productivity. But, it turns out that depression is a detriment in more ways than one, as a recent survey featured in The Journal of Clinical Psychiatry reveals.

Diagnoses of severe depression is on the rise, affecting a reported 6.8% of the workforce, according to Kaiser Health News. Naturally, those affected seek medical assistance for their symptoms, which costs employers because they are responsible for providing their employees with health care coverage. The sum of the medical bills are starting to get rather unwieldy, however, as the total amount of cash spent on treating employees’ depression rose from $173.2 billion in 2005 to about $210 billion in 2010—an increase of 21.5%. Moreover, it was found that those who are depressed are much more likely to additionally suffer and require paid-treatment for other ailments, such as migraine headaches, back issues, and more.

Many attribute the shocking rise in depression to the 2008 economic recession, which created a stressful job market to say the least.

The study also looked into how depression affects workers’ performance around the work place. As mentioned earlier, most can divine that a depressed worker is an unproductive worker. The study affirms this notion. Researchers found that those who have a major depression disorder lost significant productivity on approximately 32 workdays each year.

So, it goes without saying that keeping your employees and coworkers as happy as possible is key to operating a successful company. Their vitality is directly related to the collective success of any enterprise. Keeping your employees happy means you have to get them paid on time. Payroll funding for staffing companies is possible with staffing factoring.


It’s a Great Time to be in the IT Industry

Contact for funding quoteIt looks as if being a member of the IT staffing industry is set to pay off in the near future. As we continue to surge ahead into the digital age, our economy is transforming, becoming equally as dependent on technology as we are.

That is why the IT industry is the hottest sector of today’s job market.

A survey by CareerBuilders forecasts that over 59% of IT employers will add temporary and contract workers at some point in 2015, and nearly the same percentage of IT companies are seeking to bring full time employees to their staff. To further the good news, 87% will be increasing the salaries for existing employees, while 75% are planning on raising the starting wage for incoming hires.

IT staffing industry members of all ages can look forward to securing a future job, as 70% of employers are anticipating hiring recent college grads, 52% percent will be searching for paid interns, and also 53% said that they are likely to rehire retirees from other organizations this year.

In an interview with the Boston Globe, Sam McLoughlin, head of technology practice at Boston-based HireMinds, spoke on behalf of the thriving IT sector of the economy. McLoughlin explains, “We’ve definitely seen the market heat up. There’s demand for everything. Anyone who has the latest-and-greatest experience is going to be in high demand.” He declared that within the IT industry, the most desired skills that employers are searching for is a fluency in Java, Ruby on Rails, and mobile app programming languages.

He also mentioned that many of his clients ask him to fill jobs that are design-oriented, with prospective hires versed in psychology and in web-design. Companies want employees who can research and pinpoint the way in which their clients interact with their websites and apps.

So, it is a time of great optimism for the IT staffing industry. Jobs are being added to the economy and pay is going up. The average salary of technology employees has climbed 13% in the past two years, according to The Boston Globe. Business is booming, and is looking to continue doing so well past 2015.