Here’s a question for all aspiring temp staffing agency owners: how much data do you think a staffing agency generates in one week? The short (and understated) answer is: a lot. The long answer is much more complicated and dependent on any number of factors, including what your staffing niche is, where you’re located, and whether you’re a Canadian branch or a foreign business.
Temp staffing agencies are in hot demand right now in Canada, as they are helping solve the ongoing skills shortage in various industries like IT and trades.
The above paints a pretty clear picture of how much applicant and client data you’ll be dealing with even daily. To avoid drowning in paperwork you’ll need robust back office solution to for your business, and we have a guide below for how you can choose the right one.
Does Your Solution Have an Applicant Tracking System (ATS)?
When choosing a back office solution that will increase the speed and efficiency of processing applicant data, you must ensure that an ATS is an included feature. An ATS can organize all the pertinent information for each candidate that enters your staffing agency’s roster. Details like previous work experience, skills, preferred roles, and (eventually as they’re placed) performance metrics can be stored and made searchable by an ATS.
Without an ATS you can’t guarantee your candidates consistent customer service. To successfully place a competitive number of candidates you should give equal amounts of care and diligence to each of your candidates. Otherwise, rival temp staffing agencies will beat you to placing temps for your potential clients.
As well you’ll want an ATS that has a search function as well so that older candidates don’t get lost in the crush of new applications. Using algorithms to rediscover talent is a key way staffing agencies can maximize their budget.
Does Your Solution Have an Integrated Client Relationship Manager (CRM)?
Organization is key to success in the staffing industry and so you must juggle both the data generated from clients along with your candidates’ data. Features like making notes and lists on prospective and repeat clients, reminders and a credit check for potential clients are necessary for optimal productivity levels. An integrated CRM for your ATS possesses all these features and is a must if you want optimum productivity levels.
Your recruiters and you, the owner, gain the ability with a CRM to measure your productivity. Due to CRM being integrated into your ATS, you only need to use one streamlined system. Key metrics that you should track for are: how fast you’re able to place candidates, how many, client retention per year, and rate of satisfaction. Your back office solution is not just about vetting for top talent for placements, but to vet for the best staff to handle those placements.
Does Your Solution Have a Financial Reporting System?
Finally, you must determine if your back office solution can handle your finances. What you want in a financial reporting system, ideally, is the capacity to collect timesheets for your staff and temps, data entry that takes care of your agency’s pay structure, taxes, and billing for things like overtime and vacation.
A proficient financial reporting system saves your staffing agency a ton of time that usually goes wasted on double the amount of data entry. You also need such a system to help you remain compliant with Canadian employment and labour laws, which are changing with every passing year.
If your solution answers all the questions discussed above, then it’s a winner. Starting a successful staffing agency goes much smoother when admin isn’t bogging you down.