How a Specialty Lender Powers Staffing Firms Through Every Stage of Growth
A specialty lender can be a game-changer for staffing firms, providing vital support through the six stages of the business cycle: launch, expansion, shakeout, maturity, economic downturn, and recovery. This model is especially effective for independent staffing owners looking to grow smarter and faster. Launch: Fueling the First Step In the early days of a […]
Beyond the Desk: How Investing in Internal Staff Fuels Staffing Firms Success
For small staffing companies, reinvesting profits into the business—rather than taking all earnings for personal expenses—is crucial for long-term growth. A staffing owner running a full desk daily will eventually hit a ceiling, limiting the company’s ability to scale beyond a few dozen placements. Without strategic internal hires, is an owner really a CEO? Business […]
“Maximizing Efficiency: How to Apply the 80/20 Rule to Staffing”
The Pareto Principle, often called the 80/20 rule, states that around 80% of results stem from just 20% of inputs. In the staffing industry, this concept can be a powerful guide for both recruiters and sales professionals looking to improve their impact. For Recruiters: The 80/20 rule means that a majority of successful placements often […]
Maximizing Profitability in a Staffing Company
Sales and profitability are key indicators of success in the staffing industry. However, cash flow constraints often limit growth, forcing companies to slow hiring or restrict client acquisition. With unlimited funding, staffing firms can scale without financial roadblocks – expanding contracts, increasing placements, and driving higher profitability. The Impact of Financing on Growth Consider a […]
Positive Sign for Contract Staffing
As I reviewed the February Employment Report, one number really stuck out. The U6 unemployment rate, which includes discouraged workers and those working part-time for economic reasons, jumped .5% to 8.0%. Still on the low side and it is only one month. But I got to thinking – is there a correlation between the U6 […]
Staying Focused on Selling: Avoiding the Sales Rabbit Hole
In sales, it’s easy to get sidetracked by non-essential tasks, especially if there are no hard deadlines for lead generation. We all do it. However, every day lost to distractions is a day you can’t reclaim. Here are five tips to help you and your sales team stay focused and avoid falling into a sales […]
Maximize Fill Rates & Thrive as a Staffing Company
It’s competitive out there for contract labor. Staffers are hustling – that’s for sure. But how do they measure up in terms of measuring success? A key measure that many staffing firms use are fill ratios. Fill rate is a critical metric for staffing companies, as it directly impacts efficiency and profitability. A high fill […]
Using Price Anchoring and Upward Pricing Strategies To Win Deals
As my colleague Jonathan Tierney likes to say, “Sometimes selling contract staffing is a race to the bottom”. Unfortunately, forces outside of staffing like to commoditize contract staffing and they can’t understand that paying a little more actually makes the customer more money. Here are some sales strategies that may help negotiate a better price […]
Unlocking Staffing Firms Full Potential: The Impact of Unlimited Funding
Many staffers have the good fortune of winning deals. They are great recruiters and can fill orders. Then the big question becomes: How do they finance it if the client requires 60 days to pay the first invoice? Conversely, what happens if payment trends slow? Staffer’s will need more money to finance the same amount […]