There’s no better time to be in the temp recruitment industry. The gig economy is booming in Canada, and for the millennial generation (the largest percentage of the current workforce) workplace flexibility is considered the norm. But there’s a catch, as you might’ve noticed—competition is fierce in the staffing industry and only the best agencies can compete with the big staffing firms.
Streamlining your daily operations is vital if you want to maximize your resources and (by extension) expand your profit margins. Here are three tips that will help you eliminate temp agency issues.
1. Invest in Recruitment-Focused Software
We know you might find this first tip a tall order when you’re just starting out as a temp agency. However, keeping up with more established agencies (whether big or small) will be impossible without the right technology. Investing in proprietary software that’s focused on
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A good applicant tracking system, with client relationship management and payroll features, is vital to steadily improving your staff performance levels. Invest in recruitment software that streamlines your daily operations.
2. Engage Canadian Compliance Experts
This tip is useful for both foreign and Canadian agencies in the staffing industry. A tricky aspect of running a successful temp agency lies in being vigilant about compliance with Canadian business laws. Your agency’s profits can disappear if you’re uncompliant. Whether it’s due to a simple matter of overtime regulations or something more complex as employee misclassification, you could face not only thousands of dollars in monetary fines but prosecution as well.
Engaging compliance experts can save your agency in the long run. They’ll keep your agency compliant, so you can keep your profits.
3. Find Pre-Emptive Financing