As a staffing agency owner, you need a reputable company to turn to for advice concerning your business. Working in such a fast-paced, competitive field, it pays to partner with an organization focused exclusively on the staffing industry. Working with a team of staffing experts provides the knowledge and insight necessary to succeed.
With over 25 years of experience, Madison Resources offers the funding, technology, back-office support, and business intelligence you need to expand your staffing agency. Here is how we helped one young entrepreneur with a family handle his growing staffing business:
“With limited time on the calendar, I was dividing my time between billing satisfied customers, running payroll for our employees, and prospecting for new clients. After calling Madison Resources, all running of payroll and billing customers was handled by the team. They gave me advice on successful prospecting techniques in staffing. Madison even analyzed potential clients upfront to advise which business relationships would be best for my company to form.”
Here are ways we can help your staffing firm as well.
Understand Your Market
Know your market, including your competition. Keep in mind your sector and the different ways you should serve your customers. They all have different needs that require unique staffing solutions. Because of this, you may be able to dramatically vary your pricing.
Understand Your Segment
Adjust your service delivery methodology to each segment. For instance, if you serve Light Industrial, focus on training & safety to avoid downtime and workers’ compensation claims. Or, if you serve Information Technology, reflect your billable talent’s value in your pricing.
Improve Your Margins
Know what your staffing agency’s services are worth and charge for the value you deliver. Also, study each line of your P+L each month to see where you lose margin. Pay attention to small items that add up and affect your bottom line. Plus, cultivate relationships to retain customers rather than pay to acquire new ones. Further, investigate every incident that involves workers’ compensation, and strive to improve safety. Even small improvements in direct expenses can significantly improve your bottom line.
Support Your Staff
Provide your salespeople and recruiters the necessary tools to make pricing decisions. For instance, verify they understand your pricing philosophy. Also, train them to hold margins and value the services you offer. Plus, ensure they understand your differentiators and how different sectors operate.
Anticipate Customer Needs
Know your staffing agency and customers so well that you know their needs before they do. For instance, understand which parts of their cycles are busy and which are not. Also, pick up the phone and be a problem solver. Develop a consultative relationship with your customer. Plus, identify and present candidates with specialized skill sets before they are needed. Be the go-to agency for their staffing needs.
Gain Expert Advice
Turn to the staffing experts at Madison Resources for business advice. Learn how we can help you increase profitability and make smarter business decisions. Contact us today.