Ultimate Guide to Finding the Best Staffing Industry Financing Solution

If you’re a business owner searching for the best staffing industry financing solution, there are many funding or factoring options that may work for your agency. There are even more financing partners from which to choose. So how does a staffing business owner evaluate a potential financing partner for their staffing agency? We recommend asking several key questions to each provider and comparing responses to find a solution that addresses the needs of your staffing agency’s business model. … [Read more...]

Your back office processes and system are the heart of your entire staffing business. Without an efficient way to pay your employees, your staffing agency is unlikely to succeed long-term. When your staffing agency evaluates whether to invest in or replace a back office software system, which questions should you ask potential vendors? To help with your decision about back office staffing software, here is a checklist of questions to ask during your evaluation process. Front Office and Back … [Read more...]

With the new year in full swing, staffing agencies continue to experience many of the same challenges they faced in 2018. The primary challenge remains finding enough qualified candidates to fill orders. With the tight labor market projected to continue for at least the first half of 2019, staffing agencies must evaluate their recruiting process to increase creativity and stand out from the competition. The first step towards expanding your talent pool and refining your recruiting efforts is … [Read more...]

It’s a new year and time to figure out your game plan for staffing industry changes in 2019. What changes can your staffing agency expect to see in 2019? Here are a few of our predictions. Recap of the Staffing Industry Changes in 2018 The staffing industry in 2018 was marked by record-low unemployment rates and more jobs than candidates to fill positions. Due to the tight labor market, staffing agencies focused their time, resources and creativity on recruiting efforts. This meant finding … [Read more...]

Recruiting qualified candidates by improving the candidate journey has become the top priority for staffing agencies. The tight labor market means that effectively attracting and retaining candidates requires both efficient recruiting processes and creativity. It’s time to evaluate your staffing agency’s overall hiring and onboarding processes to make sure it is in line with the current competitive environment. For example, there might be many missed recruiting opportunities between the offer … [Read more...]

Lone Oak Payroll director of payroll funding, Ashlee Mikesh, provides insight into common financial mistakes that staffing agencies make and how to avoid them in 2019. At Lone Oak Payroll, I help many different types of staffing agencies avoid some common financial mistakes when it comes to their operations. Here are some of the most common ones that I’ve seen in my role at Lone Oak Payroll: Financial Mistake #1: Not setting aside money to pay taxes. The world could stop turning on its axis … [Read more...]

New Year’s resolutions apply to your work habits just as much as weight loss goals or cutting back on your caffeine intake. January might be the perfect opportunity to work on some bad habits at the office. Here are a few ideas for resolutions that will improve your work habits in 2019. 1. Stay organized. Something as simple as keeping your desk clean and your email inbox organized can help improve your efficiency at work. Set a reminder on your calendar to straighten up your desk and … [Read more...]

With year-end fast approaching, the Lone Oak Payroll tax manager, Ariel Peterson, provides some best practices for your staffing agency’s year-end process. Based on my experience as the tax manager here at Lone Oak Payroll, here are four best practices for your staffing agency to consider as your team prepares for year-end filings and W-2s. 1. Plan early. First, it is a good idea to start on this process for year-end filings and W-2s early so that, if any corrections are needed, there is … [Read more...]

What’s the difference between invoice factoring, staffing factoring and payroll funding? When it comes to staffing financing services, there are many terms floating around the staffing industry. Most importantly for you to consider is which financial service makes the most business sense for your staffing company? To help you keep your financing terms straight and make informed financial decisions regarding your staffing business, we offer a few explanations of the common industry terms as it … [Read more...]

When you start a staffing agency, which technology tools should you invest in to drive success for your business? This is a frequently asked question by many entrepreneurs with a plan of opening their own staffing firm. Check out the infographic for the top three technology tools that your staffing agency’s business strategy should include.   In today’s tight labor market, effective recruiting and employee engagement tools can be the difference between your staffing agency’s … [Read more...]