Simply looking at resumes and hiring candidates doesn’t make a successful staffing agency. Thinking about starting a staffing company? Here are 5 ways to ensure your staffing agency will be a success!
Five Bits of Helpful Advice for New Staffing Companies
1. Start with a Niche
Picking a specialty staffing field could help your agency be more successful. By concentrating on one designated area, you can build a strong staff that fits a niche and will lead companies in that industry to turn to your business for their staffing needs. By building a skilled staff in, for example, the IT field, your customers are then guaranteed an experienced employee in computer science, no matter whom they hire from your company. Focusing on one area when in the beginning and then branching out to include other areas of expertise is a smart growth tactic.
2. Build Your Employee Database
As your staffing agency grows so will the talent in your employee database. Looking for candidates by posting jobs online to websites like Careerbuilder or Monster can help your business, but taking advantage of networking possibilities through LinkedIn and social media sites can be just as effective and less costly. Joining staffing associations like The American Staffing Association, local staffing associations, or going to trade shows and staffing seminars can give your agency credibility and offer valuable networking opportunities.
3. Be Tech Savvy
Simply posting a help wanted ad and waiting for candidates to apply so you can build your employee database isn’t enough; your staffing agency should also be utilizing other methods to grow your workforce and be well versed in the latest tech trends. Staying current with tech trends will help you track and pull candidates from different places, discover new candidates and could also save your agency time and money. Understand where to find job candidates online and how to use social media and other means to attract top talent.
4. Understand Your Customers
Listening to your clients and learning to be flexible will ensure your company is hired because you’re willing to meet your customers’ needs. Efficiency is crucial and will go a long way with the businesses looking to use your staffing agency. Knowing your clients will also guarantee that you can provide the best staffing fit for them and what they need. By doing a little homework, you’ll be able to provide them an employee that is an excellent candidate for the position.
Publicizing what your agency does and marketing to those who would fit your clientele will help your draw in customers and get your name out there. Using websites like Twitter, Facebook, and LinkedIn are great ways to advertise your agency and potentially pick up new clients, make important connections to spread the word about your staffing company and gain referrals. Networking can make or break your business -so start early and establish good relationships that will help you make your business a success.
Launching your own staffing company? Download your free eBook with helpful tips to get you started.
6. Have a Funding Source in Place (Even if you don’t think you need one)
Your staffing company can’t succeed without adequate cash flow. Be prepared to wait 60 or 90 days after billing to receive payment for your services. Employee payroll needs to be covered whether or not you’ve been paid. You may even have to fund payroll for 90 days without before receiving a payment. It’s common for staffing companies to have a hard time obtaining bank loans. This is where payroll funding comes into play. Payroll funding companies specialize in the staffing industry and will purchase your unpaid staffing invoices and advance you the cash. Factor Finders can match you with the top staffing factoring companies that understand the needs of your staffing firm.