By Sara Jensen, National Business Development Manager
Growing a staffing business, as with any new company, takes a lot of time, know-how and at times, money. Knowing where and how to allocate all of these limited resources can be tough – and can mean the difference between success and failure.
As the owner of a growing staffing firm, do any of these questions sound familiar to you?
Do you have the knowledge and industry experience, but no time or interest in handling the administrative functions of running your business?
Do you primarily focus on permanent placements and don’t want to turn down the contract work that comes your way, even though you don’t have the cash to fund the payroll or the back-office systems in place to handle payroll processing, invoicing, collection, etc.?
Or, do you have it all dialed in and have found success in your local area, but your client wants you to fill positions nationwide and your business is set up in only a handful of states?
These are just a few of the pitfalls that can face a growing staffing business. What options are there to help staffing owners focus on growing their business and find continued success?
One option that independent recruiters and staffing firms utilize is partnering with an Employer of Record (EOR) Payrolling provider that offers complete back-office support services nationwide. Any reputable Payrolling and back-office services provider will provide the following services:
- Act as the legal employer of record for contract/temporary placements
- Manage the entire hiring process and paperwork
- Payroll & W2 administration
- Compliance with the Affordable Care Act and Benefits Administration
- Employment Insurances
- Workers Compensation coverage and claim management
- Unemployment claim management
- Invoicing & Collections services
- Recruiter Profit reporting
If you handle all of these functions internally, you may be wondering how outsourcing these tasks will help you grow your business. Here’s how:
Focus on what you do best: If administrative work is not your cup of tea, outsourcing the back-office portion of your business allows you the ability to focus on what you do best – building strong client relationships, recruiting top talent and growing your business.
Growth: Are permanent placements your bread-and-butter? Partnering with a Payrolling company allows you to say yes to those contract placement opportunities that come your way and generate new revenue – without any additional work on your end.
Nationwide capability: By working with a national Payrolling provider, you instantly expand your business across all 50 states – without extra time, risk, costs or liability.
Compliance: With employment laws and regulations continuing to change at a rapid pace, it can be extremely difficult and time-consuming to stay compliant as an employer at the local, state and federal levels. By outsourcing the employment of your contract or temporary placements, your Payrolling partner is shouldering the compliance burden and liability.
If all of this sounds good and you’re ready to get on the Payrolling and Back-Office Services bandwagon, the first step is to research into what providers are out there. Innovative Employee Solutions (IES) has been offering Payrolling and Back-Office services for over 40 years has helped recruiters and staffing firms in all 50 states to expand their business. Other top nationwide providers include Top Echelon and TFI Resources. All three providers listed offer similar overall services, with varying differences in process and price. Your research will help determine which provider is the right fit for your company, based on your top business objectives and priorities. With the right Payrolling and Back-Office partner in place, you can focus on continued growth of your business without worrying about needing extra time or resources to get you there.
