Running a business is no walk in the park. It takes time, effort, and ingenuity. Staffing firms are no exception to this rule, as you already know. You’re constantly moving from task to task, ensuring the business keeps running smoothly. You may sometimes wonder what kind of assistance exists for companies like yours.
Back office support is some of the most valuable assistance available to a staffing firm today. What is back office support?
Support for the back office includes a variety of administrative tasks, such as human resources, payroll, compliance monitoring, and benefits administration. It can also lean to the financial side of things, helping you secure funding to keep cash flowing or assisting you with collections on accounts receivable. Moreover, back office support provides you with an expert team you can rely on for great advice.
What can back office support truly do for staffing firms? Take a look at some of these business support offerings, and consider which could help in your day-to-day operations.
1. Staffing Firms Can Get Help with Payroll
Payroll is a time-intensive task for most businesses, staffing firms included. While this task may seem straightforward at first, it can become quite complex, particularly if you offer temporary staffing services. In turn, mistakes in payroll can have some serious consequences, from penalties from the Canada Revenue Agency to audits and more.
Getting business support could mean getting assistance with your payroll activities. A support provider can help you administer payroll quickly and correctly. This task is shifted from your own HR team, so they can focus on other crucial tasks in the business. At the same time, payroll is completed correctly by knowledgeable staff.
2. Compliance Monitoring Can Help You Stay Ahead
Speaking of time-intensive tasks, how much do you dedicate to compliance monitoring in your business? With changing legal frameworks in almost every province in the past couple of years, you may have decided to spend more time and effort on your compliance.
Your in-house staff is already so busy. Why add to the workload? Compliance monitoring is time-intensive and ongoing, so you may quickly see it go by the wayside as more important tasks take over.
Shift your monitoring activities to a support provider to free up your own staff. While they move on to other tasks, you can rest assured someone is keeping an eye on this important aspect of your business.
3. Get Access to Expert Advice for Staffing Firms
No matter how long you’ve been in business, there are no doubt times you have questions about what the right move is for your staffing firm. Should you expand into another province or open another location nearby? Is it time to restructure? What could you do to save more on administration tasks?
Back office support providers are staffed by teams of knowledgeable people with experience in the industry. They can provide their own insights and offer you advice as you consider your options. You can rest assured you’re making the right choice by getting outside insight.
4. Get a Helping Hand with the Financials
Some back office support providers can assist with the financial side of things as well. They may be able to provide access to capital, such as a service such as payroll factoring.
This alleviates many of the financial headaches staffing firms encounter. It can help you manage cash flow more effectively, while assisting you in collecting on your invoices sooner rather than later.
Back office support is clearly an advantage for staffing firms. Think about the services offered and how they could benefit your business. If you’re still unsure, talk to a provider today and discover how they could help your business.