Throughout the year, you need to reach your staffing firm’s growth goals to stay competitive. If your firm is not continually expanding to meet client needs, you will lose market share and not reach your desired levels of success. In order to attain some of your goals, additional support and financing may be needed. Find out how working with a firm such as Madison Resources can help your staffing firm meet annual growth goals.
5 Strategies for Meeting Your Growth Goals
1. Provide Employee Raises
Start by conducting performance reviews to uncover which employees are meeting or exceeding their duties, whether any may be better suited to another role or may need to be terminated. Then, use exploratory meetings to let each employee discuss their performance and provide insight into increasing departmental efficiency and productivity. Give out raises to reward and retain your top performers. Plus, begin planning for which employees may earn a raise or seek a promotion in the coming months so enough money is earmarked for that expense.
2. Use an Applicant Tracking System (ATS)
A Applicant Tracking System (ATS)) manages and improves relationships with current and potential job candidates. Implementing a strong ATS system ensures you have the talent needed to fill clients’ job orders when they come in and have talent available for future client needs. Teaming with Madison can provide integrated access to an ATS
3. Implement Social Recruiting
Advertising on blogs, forums, job boards and websites such as Glassdoor as well as social media platforms such as LinkedIn, Facebook, and Twitter help you find, attract and hire talent to fill your clients’ needs. You can proactively search for candidates, build relationships and encourage them to apply for your clients’ job openings. [say something about Madison]
4. Utilize Data-Driven Recruiting Analytics
Gather data from your applicant tracking system (ATS) and recruitment marketing platforms to plan and make decisions based on data. Gain insight into which parts of your recruiting strategy work and which need to be improved. Use the information to improve your time to hire, cost to hire, and quality of hire.
5. Case Study: Sam A.
Sam A. began partnering with Madison Resources in 2008. With our financing and support, his staffing firm grew over 20% annually in the following nine years. As Sam’s firm continues to grow, he knows we always will provide the financing, payroll, billing and collections help he needs. On many occasions, we have come up with creative solutions to succeed during downtimes and acted as a strong pillar of support through all circumstances. Sam and his team wholeheartedly recommend Madison to any staffing firm seeking a financing or payroll partner.