Running a staffing firm can be a lucrative opportunity. With a stable base of reliable clients, great job candidates, and a growing demand for flexible staffing solutions, you can continue growing your agency.
One of the biggest challenges facing staffing agencies today is the cost of administration. You’re likely responsible for a number of different HR tasks, including hiring, payroll, and benefits administration.
How do you reduce administrative costs at your staffing agency?
There are several different strategies you can use, including getting back office support, streamlining your processes, reducing redundancies, automating tasks, and more. Take a look at these strategies and apply some of them to your business.
1. Back Office Support Is the Best Solution for a Staffing Agency
If you run a staffing agency, you’ll likely want to check into back office support. These third-party partners can help you administer all sorts of tasks, from payroll to benefits.
Since they’re experts, they’re able to complete these tasks quickly and easily. They can also offer you expert advice.
Since they help many different clients as well, they have all the infrastructure in place. Look for a provider who offers a total back office solution instead of piecing together services from several different providers.
2. Use Specialized Software
Specialized software will help you streamline your processes. Generic software is often advertised as being flexible, but it won’t always allow you to complete certain tasks without complicated workarounds.
Those can take time, and as the old saying goes, time is money.
3. Automate Where You Can
Many of the time-intensive tasks your staff perform are also rote tasks. They don’t require a lot of talent or keen insight, but they do take time. Data entry is a prime example of this. It’s easy enough to do, but if you have lots of data to enter, it will take time.
If you can, automate tasks like data entry. Even some tasks related to hiring, such as scanning job applications for keywords, can be automated. This can help you streamline your process by selecting candidates who meet certain criteria.
Compliance is another area you might consider automating. Monitoring can take a large amount of time. By automating the task, you can free up your time for other things, while still keeping a close eye on the legal framework.
4. Provide Training for Staff
At first glance, offering training for your staff may seem like an additional cost. The skills they learn through additional training will often balance out any training expense.
First, your staff may learn skills they can then apply to their everyday work. It can help them become more efficient and productive workers.
As an added bonus, your staff will likely remain more engaged and motivated if you provide them with opportunities to learn new skills. Engaged workers are less likely to leave, reducing turnover and hiring costs. They also improve their productivity.
If you’re hoping to reduce administrative costs in your staffing agency, try one of these strategies on for size.