All the biggest time-wasting tasks in your staffing agency’s daily operations are related to admin. HR, payroll, and compliance matters require a lot of time and patient work to ensure they’re on track. These factors are also critical to the productivity levels of your business, which in a competitive industry like staffing, is directly tied to your success.
You might be hesitant to outsource your admin to a third party, but consider this: How is your core business supposed to thrive when it’s weighed down by HR, payroll, and compliance duties? The last of those factors, compliance, is also notorious for shifting and changing at the drop of a hat in Canada.
If you’re still hesitant about whether your staffing agency needs help with its HR, payroll, and compliance, read on for three key signs that you could benefit from partnering with admin experts.
1. Your Recruiters Can’t Focus on Sales
Maximizing the day’s work hours at a staffing agency is crucial to its growth, both in resources and time. To make your on-target earnings (OTE) and uphold your agency’s reputation for fast and insightful placements, your recruiters need to balance their admin duties with their core activities.
When your recruiters have to spend extra time on admin tasks, their sales numbers are bound to falter.
If you find you aren’t able to keep up with your competitors, chances are you need extra help with your HR.
2. You’re Making Costly Mistakes with Payroll
Payroll admin is finicky and can become quite a drain on your financing if you aren’t careful. You need to ensure paycheques go out on time with direct deposits and pay stubs. You also must deal with proper T4s, Records of Employment, and employee deductions. Not to mention, you have to make sure you’ve made your remittances to the government.
There are many things that could go awry with your payroll admin if you aren’t careful. The Canada Revenue Agency reserves the right to fine you for any failed or missed remittances, along with added interest fees. If your candidates aren’t paid on time repeatedly, you could start losing both your talent and your reputation.
In the staffing industry, your agency’s reputation is its most important asset next to its recruiters and talent. Your recruiters’ networks will suffer as the result of a weakened brand name, and if that occurs, it’ll become a struggle to keep your business running.
3. Ongoing Compliance Seems Like a Pipe Dream
Business compliance in Canada can feel like a precarious juggle. There are employment and tax standards to keep track of, and those standards are also evolving constantly. When you’re busy trying to split your focus among HR, payroll, and compliance, you’re almost bound to slip up somewhere.
Take worker classification, for instance. There are heavy fines and even the possibility of prosecution if your agency misclassifies its workers. You must know the difference between a temporary employee and an independent contractor.
If keeping up with employment standards and payroll standards on an ongoing basis seems impossible to you, then you should definitely consider getting help. There are back office service providers that not only dedicate their entire business towards being admin experts, they have award-winning software that can automate many HR, payroll, and compliance tasks.
Does your agency struggle with any of these three signs discussed above? Seek out expert help and watch as your agency grows to compete with the big staffing firms on a national level.