The staffing industry, including temporary staffing and long-term staffing, continues to be an important part of the American business scene. It supplies personnel for many industries and for companies in various stages of growth and progress. The industry is projected to continue to grow as the economy expands, filling its middleman role between employers and workers by matching qualified candidates with companies that have job openings.
Why Staffing Agencies are Important
Staffing agencies offer the following benefits:
- Great talent is often hard to find and staffing agencies save hiring officers the time and money required to search for and screen candidates.
- Companies can have greater employer flexibility for business changes or ebbs and flows, and even allow them to operate in a leaner fashion by hiring only the people they need for shorter durations
- Some of the legal risks involved in hiring are covered by staffing agencies.
4 Tips for Staffing Businesses
- Examine the marketplace to be served. Is there a need for specific types of talent that your staffing agency can serve? Is the market large enough to offer satisfactory revenue opportunities? What is the nature of the staffing agency competition: many agencies, entrenched competition, geographic areas to focus on or to avoid?
- Develop a niche that you can focus on. Find a specialty in which you can offer some distinctiveness.
- Develop the best ways to find quality workers.
- Market your business aggressively.
- Bonus tip: secure a funding source before you need one so that you can have the adequate cash flow to succeed.
Some Operating and Marketing Suggestions
- Become tech-savvy and use the right tools for effective business operations.
- Use “warm calling” to establish and build relationships.
- Research companies looking for data that reveals opportunities.
- Use social media to facilitate selling.
- Use success stories.
Seek Professional Financing Assistance
Contact the financing professionals at Third Bay Capital, based in Reston, VA. We offer a great selection of valuable financial products to provide the working capital you need to meet the unique needs of your staffing business.