A View of 2015
There is no doubt that companies benefit every year from the services of temporary staffing agencies. Corporations that don’t have the hiring time themselves would be left in a panic without them. There is a revolving door of clients who continually come back to fill the temporary positions they need at their business. This feeds into the revenue of the temporary staffing industry.
There is good news to be said for temporary staffing agencies across the United States. A recent poll done by Staffing Industry Analysts showed that temporary staffing revenue has rose a median 10% year-over-year in June. Revenue has stayed between a 9% to 12% growth range in 2015. The biggest temporary staffing industries to look out for this year are healthcare and finance/accounting.
Just from May to June of this year, IT, travel nursing, Per Diem nursing, Locum Tenens, finance/accounting and engineering/design have seen a significant increase in revenue.
IT: 5% to 10%
Travel nursing: 33% to 51%
Per Diem nursing: 16% to 21%
Locum Tenens: 28% to 33%
Finance/accounting: 11% to 15%
Engineering/design: 4% to 7%
Taking a Looking at Your Temporary Staffing Firm
Does your staffing agency follow along with these trends? Take part in the next Pulse Survey done by Staffing Industry Analysts so your firm can be included in next month’s results. By being a part of the survey, you can get up to speed on bill rate trends and yearly and monthly revenue growth in the temporary staffing industry.
There will always be a need for temporary staffing agencies. As long as there are large companies that need a constant influx of employees, temporary staffing is going to be around. Staffing agencies work hard to provide companies with employees they need for temporary work. They are under a great deal of stress to provide the best services to their clients and find them top notice candidates for their businesses. One bad candidate choice could cost a firm their client. Each firm needs to be on top of their game, especially with their recruiting team.
How You Can Bring in More Revenue
With the high spike in growth for temporary staffing, your firm needs to be on top of its game. The one thing temporary staffing companies never want to be short of is working capital. Invoice factoring companies can provide agencies with the comfort of a healthy cash flow. You will never have to worry about meeting payroll, slow paying clients, or having enough to pay the rent again. Invoice factoring leaves you debt free, because there is nothing you need to pay back. Factoring services can also include payroll management and back office support so you can focus on running your business. Don’t let another quarter go by just making ends meet. No matter what type of temporary staffing you do, we can help. Let Factor Finders be the push in the right direction that your staffing business needs.