It can often take 90 days or longer to receive payment from customers or clients. Invoice factoring, also called payroll factoring or funding, gives you access to the instant cashflow you need to meet financial obligations and objectives. Staffing companies commonly rely on invoice factoring because long waiting periods make it difficult to take advantage of…Read more
You may already know that factoring is when a factoring provider like Encore Funding buys your outstanding invoices and transfers you cash. However, it’s important to understand the two main types of factoring, recourse vs. nonrecourse, before you decide how to manage your staffing firm’s capital needs. Read on to discover more about…Read more
Rules, regulations, processes – there are many steps required to start a staffing agency and it may seem confusing on the surface. We’re constantly asked: What are the requirements to start my own staffing company? Can you tell me the main steps to follow before opening my own staffing business? Aside from the regulations…Read more
A business plan is a living document that can change as your company grows and should be updated as necessary. There’s no right or wrong way to write a business plan; however, there are several key elements that all staffing companies should have in place as a guide to keep the business focused. Here’s how…Read more
Some temporary employees enjoy the impermanent nature of temporary work, preferring to gain a wide range of experiences. Others take on temporary work in addition to a full-time job for extra money. No matter the employee’s intent, it’s important you know how to retain staffing employees and gain a reliable pool of talent to fulfill…Read more
Selling in the staffing industry is different than conventional sales; instead of selling a tangible product, you’re selling a service. As a result, recruiting and retaining members of your temporary staffing sales team is a unique process. “Staffing sales is more about education rather than just selling,” says C. Adam Forbes, president of BaronHR. “You need…Read more
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