Why the Right Funding and Back Office Services Partner Is Essential During Economic Turmoil

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During an economic downturn, the use of staffing firm services changes with uncertainty. Because many companies use staffing firms for their flexibility, when a recession hits based on their core strategy, sometimes the first costs to go often are contingent workers based on other strategies. Your customers may be concerned of a blow to employee…

Lessons We’ve Learned About Recruiting During a Pandemic

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With the sudden change to our world in early 2020 due to COVID-19, significant changes have occurred in the way you run your staffing firm. One of these changes involves your recruiting process. Not being able to personally meet with candidates has become a challenge. You need to know all you can before placing candidates…

Pivoting Your Business: Why Both Timing and Preparation Matter

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Growing your staffing agency results from innovative thinking. When you have funding and ideas, you gain strategic opportunities. At various times, your success will involve reinventing your staffing agency by changing your offerings. Proper planning can help your business prosper even through the uncertainty of an economic downturn. If you experience funding and back office…

Why a Crisis Is a Fantastic Time to Demonstrate Your Value as a Staffing Provider

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During the COVID-19 pandemic due to the uncertainty, many companies are in greater need of flexible staffing than usual. Of course, your staffing firm should be the one that employers turn to because you provide excellent service. You need to show concrete reasons why current and prospective customers should choose your firm. Here are three…

How Can You Increase Your Staffing Company’s Margins in a Way That Directly Benefits Your Profits?

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When it comes to making a higher profit with your staffing company, selling more is not always the answer. This can hurt your business long-term if you underprice your services to win a high-volume contract. Instead, look beyond sales and look to pricing structures to find ways to increase your margins.  Implement these methods to increase your staffing…

How Do Soft Collections Practices Benefit Your Relationships with Your Customers?

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What is soft collections? ” Madison Resources provides a highly specialized service during the account receivable management process to being paid while maintaining the customer relationship, called a soft collection process.  As the owner of a staffing agency, one of your priorities is developing relationships with your customers. You get to know their companies inside and out, including their goals, needs, and challenges, to fill their…

Why Outsourcing Your Invoicing Is Better for Your Team

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Cashflow from invoicing is what keeps your staffing agency running. As a result, you want trained professionals with the latest technology handling the process. One way to take advantage of these benefits is through outsourcing. You hire a third party, like Madison Resources, with the skills and technology to manage your invoicing functions. As extended team members,…

Outstanding Service Needs to Be Your Standard in 2020 – Here’s Why

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Companies across America lose billions every year because of poor customer service. As a result, if your staffing agency or recruiting firm doesn’t provide excellent customer service, it’s going to struggle in 2020. World-class customer service builds your customer base and creates customer retention. This improves your customer service reviews and ratings. Satisfied customers tell…

3 Steps Toward Better Cash Flow Management

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Managing your company’s cash flow is a key part of business. No matter how great your business model is, how profitable you are, or how many investors support your company, your business needs cash flow to exist. Because of the lag between the time you pay your employees and you collect money from your clients…

How to Set Up a Collections System During Your First Year as a Staffing Startup

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As a staffing startup, you need to collect on invoices as quickly as possible. Smooth operations depend on the remaining solvent. If a client fails to pay an invoice on time, your business can be adversely impacted. In the staffing business, you pay for your major cost of sale,  labor, on a weekly basis. Your…