The staffing industry is growing. Make sure your agency is prepared to take full advantage of the business opportunities the market presents. The following are a few proven ways to help successfully grow your staffing agency.
You can have the best, most well-conceived plan to grow your agency, but if you don’t get your staff on board it’s not going to work. Your plans for growth are going to impact them. If they do not believe in your plans, growth can be more challenging. Be sure to share your vision and explain how their contribution to the goal is important. When people feel they are an important part of a plan, they will respond in a positive way and commit to its success.
A good leader is one who evaluates their strengths and weaknesses and does not expect their business to take a rocket flight from day one. Keep in mind what measures need to be taken in order to capitalize on the strengths of the agency and mitigate the weaknesses as the business begins to grow.
Use online discussions, classes, and conferences to grow your network. Others in the industry will be happy to share their success stories with you. Get advice that is tailored for your agency’s situation from state and local staffing associations.
However, you don’t have to follow anyone’s advice blindly. You are the only one who knows what your dream is. Therefore, use your instincts to filter the advice so that you stick to what is most suitable for your situation.
It is important for staffing agencies to understand where they stand in the market that they serve. In order to grow your staffing agency successfully, choose a specific market segment that you can serve best, such as:
Things won’t always go the way you plan. For instance, you may sign a lucrative contract only for the client to terminate it midway through. Worse still, you may think that you are winning a contract that you really need, only for the prospective client to cross over and give it to another staffing agency. If this happens, don’t panic.
What you need to do is to keep your eyes open. Try to learn why the client might have chosen another agency over you. Find out what they might have disliked about your staffing agency. Use those lessons to improve your services and relationship with clients. Use the experience to put your agency in a better position when you pursue the next opportunity.
Set goals for your growth and track your progress toward each goal. Establish your benchmarks, then set your plan in motion. For a growing agency, goals might include:
Networking is a common practice because it works. Attending meetings and events to meet potential clients can help grow your business, especially to industries you may be trying to gain a foothold in.
When networking, don’t limit or focus on just potential clients. Establishing relationships with people throughout your local business community will go a long ways toward building your brand and getting referral business.
Recruiting and sales produce revenue in the staffing business. Try not to let non-revenue generating work such as billing and accounting take up more than 10 percent of your time. Managing your time and relying on your staff is key to keeping you on your growth track.
Remember, growth doesn’t happen overnight. Be flexible with your plans to grow your staffing agency. As you work toward your growth goals, you may very well need to revise your plan to take advantage of new opportunities. Keep these tips in mind to help successfully grow your staffing agency.
Scale Funding is an invoice factoring company serving businesses across the United States. For more information on factoring, call (800) 707-4845 for a free, no-obligation consultation and quote.