Running a staffing firm can be a highly profitable business, but only when you know what to charge your clients. While there isn’t a template or set-in-stone guideline for pricing your staffing services, there are some primary elements all businesses should consider when determining their markup value. Markups pertain to the percentage staffing firms charge…
In the wake of the Great Resignation, talent retention has become a more important priority for staffing agencies and other business owners than ever before. 2021 saw a record-breaking 47.8 million workers quit their jobs in search of greener pastures. At the same time, increased interest in remote work has led many businesses to adopt…
One of the biggest challenges any staffing firm faces is properly managing its funds. The staffing industry is incredibly competitive, and when you throw in common challenges like compliance and strict vendor requirements, it is all too easy to see how scaling efforts — or even maintaining the status quo — can feel nearly impossible….
When it comes to attracting and retaining top contingent talent, your company should provide a competitive benefits package. According to TeamStage, 49% of employees leave their job due to a lack of valuable benefits, and 51% said they consider a benefits package to be crucial in retention efforts. Unfortunately, this is a dilemma that plagues…
One of the biggest challenges any staffing firm will face is how to properly manage its cash flow. A positive cash flow is essential for conducting a wide range of business tasks — but perhaps most importantly, ensuring that payroll is met for your employees and contractors on time. Even when you have a legitimate…
Payroll is a crucial aspect for any company — it’s more than just collecting employee hours, calculating wages, and issuing paychecks. Your payroll administrators must adhere to various local, state, and federal requirements. Since trusting an external service with such an important part of business operations can be risky, it’s no surprise that most businesses…
As the world continues to transform to the remote work model, companies look to hire international, remote workers. However, the process is easier said than done, and the complexities involved with hiring internationally can make it difficult for businesses to do so. Fortunately, there are outsourcing HR solutions that can help, but it’s important to…
As we enter into a remote-focused world, companies know that hiring workers overseas or from other countries can be a meticulous process. Not only must the company comply with several foreign employment and tax laws, but it must also have an established branch office in the foreign market — an expensive undertaking that only adds…
The amount of businesses adopting the remote work model is growing at an astronomical rate. Before the pandemic, merely 6% of the US workforce was employed remotely. In May 2020, that statistic shot up to approximately 30%, likely due to the temporary work-from-home quarantine policy. Now, as we approach the mid-mark of 2022 and workers…
For many organizations, COVID-19 has put a wrench in the return-to-office plan. Now, as the world attempts to acclimate to a sense of normalcy, companies are offering more modern and functional work methods. Hybrid work cultures, for instance, have become the preferred way of working for the vast majority. According to Gallup, over 50% of…
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