As of 2022, nearly 60 million American workers — or 36% of the total workforce — are independent contractors. From small business owners to freelancers, the self-employment industry is becoming the career of choice for many entrepreneurs. Having the ability to control your service and the way it’s practiced is an admirable quality; while there…
In today’s ever-evolving staffing market, establishing a balance of cash flow is a challenge for many firms, but nonetheless crucial. No matter how successful your agency is, there is bound to be an eventual gap between your cash flow and your sales. And if there’s anything the past couple of years has taught us, it’s…
Front-office operations: The face of the company, where the business interacts with customers and clients. Back-office operations: The part of the business that is not client-facing, dealing with things like administration and finances. Back-office operations make the front office operations possible. Front-office employees serve customers and clients and, in any physical (as opposed to fully…
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…
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