216-998-9900
Staffing Information Articles
What Do the Recent Bank Collapses Mean for Entrepreneurs?
The recent collapse of Silicon Valley Bank and Signature Bank are the biggest bank failures our country has experienced since the 2008 global financial crisis. These events raise serious questions about the decision-making by leadership at many of the nation’s larger banks. We need more time before the fallout can be fully measured. There…
Read MoreWhat Is Invoice Factoring and How Does It Work?
It can often take 90 days or longer to receive payment from customers or clients. Invoice factoring, also called payroll factoring or payroll funding, gives you access to the instant cash flow you need to meet financial obligations. Staffing companies commonly rely on invoice factoring because long waiting periods make it difficult to maintain operations…
Read MorePayroll Factoring 101: Recourse vs. Nonrecourse Factoring
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 MoreGovernmental Requirements to Start A Staffing Agency
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 MoreHow to Write a Staffing Agency Business Plan: 5 Essential Sections
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 MoreHow to Retain Staffing Employees
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 MoreHow to Recruit and Retain Your Staffing Sales Team
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 MoreFull-Service vs. Money-only Payroll Factoring
Payroll factoring is one of the most popular types of business finance. Within that, there are two types of factoring: money only and full service. Money-only invoice factoring provides strictly payroll funding. You process your own paychecks, print your own invoices and file and pay your own taxes, while the factor delivers cash to cover…
Read MoreCreating a Business Plan for Your Staffing Agency
A business plan is the blueprint you follow to build your company. It outlines all of the major aspects of the business and keeps its architects — you and your business associates — focused and aligned. But a business plan is also a document you’ll use as you work with other critical stakeholders, including funders, vendors and…
Read MoreTemporary Staffing Employment Screening: How Often, When, Why and How?
Screening your temporary staffing employees is critical — you want to make sure the workforce you’re sending out is appropriate for the job and protect yourself against any potential liabilities. “We screen employees on a daily basis,” says the vice president of sales and operations at a large Cleveland-based staffing firm that specializes in the…
Read More
