With the new year’s hiring season under way, staffing agencies need to kick-start their productivity. One of the best ways to optimize productivity levels is to tighten up your agency’s best practices. With every new year, you should be reviewing your best practices and replacing outdated strategies to ensure your recruiters can do their best work.
One sure-fire way to improve several of your staffing agencies’ best practices that affect productivity is to secure a relationship with a back office service provider that specializes in helping agencies streamline their daily operations. Curious about how exactly such providers can accomplish this?
Check out below for three significant ways back office service providers increase your productivity by employing specialized expertise and technology in your agency.
1. Reducing Admin Busywork
Administration is arguably the most ungainly portion of staffing agencies’ responsibilities. All of the day-to-day drudgery such as payroll, compliance, and bookkeeping is integral to your operations. At the same time, all these admin tasks are a massive drain on your core business responsibilities like sourcing promising candidates and placing them with your clients quickly.
Considering that just sourcing candidates alone is one of the top challenges agencies are facing this year, you need to save and maximize your salespeople’s time. If your agency is growing fast, then it’s imperative you seek back office support. Otherwise, you’ll find your agency practically drowning in paperwork.
When you outsource your admin tasks to a service provider that employs admin experts and develops cutting-edge software to automate time-consuming processes, your productivity will begin to climb. One of your best practices for 2018 should be to minimize busywork.
2. Keeping Payroll and Financing in Check
Whether you’re a new agency or not, we can all agree that making sure payroll is processed on time and according to the right rates is important. A lot of time and effort will go to waste arguing with candidates if payroll is mishandled or withheld because there’s no financing infrastructure in place to ensure your agency and your talent are taken care of.
Back office service providers offer a range of tools to help you keep payroll accurate and on time, every time. A service provider will give you the ability to run credit checks on prospects, making certain you’re making the right decisions regarding clients. Providers also offer payroll financing, offering a bank account with receivables insurance that will help you pay all workers according to your schedule. All branded invoices, government remittances, and collections are handled by the provider as well.
The result is no more headaches and split focus about whether you’re balancing the books. Once you have your payroll and capital in order, you’ll be ready to unlock a lucrative revenue stream with contract staffing.
3. Optimizing Your Ongoing Compliance Measures
As of April 1, 2017, onward to March 31 of this year, the Ontario Ministry of Labour is conducting its annual round of workplace inspection blitzes. Such blitzes in recent years have been uncovering an increasing number of non-compliant bosses who have been failing employment standards and failing to pay their workers.
Many blitzes also catch newer staffing agencies by surprise as well, because Canadian provincial and federal legislation and regulations are constantly evolving. As of November, for example, the Fair Workplaces, Better Jobs Act has brought several updates to wages, standards, and laws.
Back office service providers are experts in Canadian compliance and will act as advisors who will keep you up to date on the latest changes to legislation and regulations. They also offer a guarantee that, in the rare chance that there are any misclassified independent contractors, they will assume financial responsibility for audits or penalties.
Your agency needs to focus on what it does best: sourcing and providing top talent. Outsource the tasks that weigh down your core business, and watch it grow with ease.