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
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 payroll funding, your staffing company can get access to a secure, steady cash flow that will help your company immediately and allow you to pay your employess. Factor Finders are experts at helping small and emerging staffing companies grow and reach success.