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Posts Tagged ‘how to grow a staffing agency’
Full-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 MoreBest Staffing Industry Associations to Join
Whether you’ve been in the industry for years or are starting your own staffing agency, you don’t have to go it alone. There are numerous organizations and associations that offer data, education, support, opportunities, companionship and more. American Staffing Association. This national association aims to advance the interests of firms of all sizes and across…
Read More10 Great Online Resources for Staffing Professionals
From reviews on recruiting software to reports on market trends, payroll and labor management, the online staffing community is vying for your attention. Industry analysts and news sites can keep you abreast of trends. Personal blogs and stories “from the trenches” provide opportunities to network – and learn from your peers. So, where should you…
Read MoreHow to Reduce the Burden of Workers’ Comp Insurance
Having workers’ compensation coverage is necessary for staffing agencies, both to protect temporary employees in the event of an on-the-job injury or disability and to comply with regulatory requirements. Compliance in this area, however, comes with significant costs. In addition to penalties for failure to provide coverage, the cost of workers’ comp can be driven…
Read More3 Things to Do Before Opening an Office in a New Market
There may come a point in the life of your business that the prospects of growth, at least significant growth, in your home market are slim. When that happens, you may start exploring adding another office in a new market. By establishing a presence in a new geographic area, you can take advantage of previously…
Read MoreSigns That It Might Be Time to Find a New Payroll Funding Company
Given the importance of a payroll funding company to the continuity of your staffing firm, it’s critical to take the time to review the relationship and look for warning signs that your provider might be underperforming. When reviewing your payroll funding partner, consider whether full-service or money-only best serves your business. In addition to advancing…
Read MoreHow Payroll Factoring Helps With Accounts Payable
In a perfect world, you would send an invoice to a client and the client would send you a check upon receipt. But in reality, it hardly ever works that way. Instead, you send an invoice, and it could be 30, 60 or even 90 days before you get paid, which can make it difficult…
Read MoreWhat is Payroll Factoring?
Staffing agencies have a wide range of financial obligations, including workers’ compensation insurance, advertising and marketing, and office equipment and upkeep. Yet one of the biggest financial challenges is payroll factoring for staffing companies. Many staffing agencies choose to finance their payroll invoices through a factoring company such as Encore Funding. But what is payroll factoring…
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