As business needs change, so will your staffing requirements. Hiring a staffing agency might be something to consider introducing to your business model. Doing so has many benefits, one of which is growth potential. Here’s how hiring a staffing agency can help your business grow.
Table of Contents
1. Cut Down on Bad Hires
Businesses lose a lot of money on ‘bad’ hires. Bad hires are individuals who leave the company very early in their careers. These individuals either quit because they disfavor the job or the employer fires them for poor performance, inadequate metrics, attendance, etc.
Hiring workers is an investment that sometimes costs thousands of dollars per new worker. According to Career Builder’s 2017 report, employers lose about $14,900 on each person who becomes a bad hire. They also reported that 74% of employers openly admitted hiring the wrong person at least once.
You can avoid these drastic monetary losses by using a staffing agency. The agency hand-picks the employees according to the qualifying criteria you give them. They meet with candidates and familiarize themselves with their personalities and skill sets. They then send you only the candidates they believe are the best matches, and that will boost your chances of success with every new hire.
2. Save Time on Interviews and Onboarding
Another way hiring a staffing agency can help you is by freeing up time for you. The staffing agency typically takes care of interviewing candidates, and in many cases, they handle onboarding. The less time you spend on interviewing and onboarding, the more time you have for more fruitful tasks. Every interview takes 30 minutes, but many extend past an hour because of challenges, walking time, and additional questions. The hours you save on the interviews could equate to thousands of dollars in savings.
3. Cut Benefits Expenses
You can also reduce the benefits expenses by hiring a staffing agency. They can arrange to have the staffing agency sign contracts with the workers for specific periods. During these periods, these workers will perform duties for your business but will be staffing agency employees. Thus, you will not be responsible for offering benefits during that contract period.
This trial period will allow you the time to evaluate the workers and decide if you want to permanently bring any of them into your business. Once you hire the workers permanently, you can offer them benefit packages to improve their quality of life. A staffing company can be the perfect solution if you’re a new business. As per a report from the U.S. Bureau of Statistics, 20% of all businesses fall apart and fail in the first few years. A whopping 45% percent fail in the first five years, and 65% fall apart in the first ten years. The staffing company will help you find workers while you’re in the uncertain stages.
4. Gain Referrals
As a business, you must keep your current employees content and search for new talent constantly. Referrals are one thing that can help breathe new life into your workplace. The staffing agencies sometimes offer workers incentives for bringing their friends and family to the job. These referrals typically won’t come out of your pocket, but they will grow your employee database. You’ll also have the bonus of evaluating those new employees before you bring them into your business.
5. Reduce Overtime Payout
Busy times of the year often call for an increased workforce. Fulfilling your needs during those times can be costly, especially if you must pay your permanent workers overtime. A staffing company can help you shave some overtime costs by giving you a workforce when needed.
All you need to do is request a certain number of workers, and the agency will send them to you during those challenging times. That way, you can get the needed workers without sacrificing your budgeting plan’s bottom line. The more money you save, the more funds you’ll have available for investments, technological upgrades, expansion, etc. You will also have more funds you can use to pay better wages. The U.S. Bureau of Labor Statistics says a roofer’s annual salary is $51,910. Cutting expenses will allow you to raise your workers’ wages.
The list of the benefits of hiring a staffing agency is far larger than what you’ve read here. However, you should feel more confident about trying these services in your establishment. Contact a reputable staffing agency in your area and request a meeting and a quote. You might love the service.