One of the biggest misconceptions that the corporate world has about staffing companies is that it is easy for staffing companies to find personnel because job hunters are constantly offering their services to staffing companies. While it is true that staffing companies get a lot of job hunters coming to look for work, the staffing company business model has changed over the years. These companies are not the general placement organizations they used to be and it requires a significant investment of time and money to create a successful staffing organization. The misconception is shattered the first time that a corporate representative in need of talented employees sits down with a staffing company and realizes just how hard staffing companies work.
A good staffing company takes the time to process each application and resume it gets because the company never knows when it will find the ideal candidate for a new project will walk through the door. But processing hundreds of applications takes time and money, which is why staffing companies must always be concerned with their cash positions. If you want to run a staffing company that consistently attracts the top talent to fill customer contracts and win placement bids, then you need to have a financial partner that provides you with the cash you need on a regular basis.
The thing that allows a staffing company to attract top talent and have the best candidates walk through its door is to develop a reputation for placing workers in the best jobs. To do that, a staffing organization must have the cash to pay its own administrators, invest in computer systems that adapt easily to customer needs, and market its services to a broad range of potential clients. All of that takes money, which means a staffing company is only as successful as its ability to turn its outstanding invoices into cash. This is where the strong financial partner such as Capital Credit comes into play for the most successful temporary placement agencies.
Capital Credit is that financial partner your staffing organization needs to attract top talent and continue to exceed customer expectations. Your outstanding invoices are how you bill clients for the hours they have racked up on each project, and the revenue from those invoices is the financing you need to pay your staff members. Whether you are talking about long-term staff contracts or temporary placement jobs, you need to pay your staff in order to gain a good reputation. When you allow us to turn your invoices into cash flow in a matter of a day, you will have the money you need to maintain your positive reputation in the corporate world and attract the best talent available.
The principle behind accounts receivable financing through Capital Credit is actually very straightforward. Your invoices made out to customers with good credit should be looked at as assets for your staffing company. The bank only considers tangible things such as your technology equipment to be assets. But your company has worked hard to generate those invoices and they should be considered as benefits to your organization. Capital Credit looks at your invoices as assets and uses them as collateral to fund your business line of credit. As long as your staffing services generate invoiced sales, then you will always have the assets you need to grow your company and attract the best talent. An accounts receivable financing company such as Capital Credit allows you to benefit from your hard work and generate cash flow based on your sales.
Capital Credit will not care about your company’s credit score. The important information is all related to your clients. As long as your clients are creditworthy, then you will be able to use your invoices to sustain the cash position you need to attract the best possible talent. When your staffing company consistently attracts the best talent, then you have more to offer prospective customers when they come to you for their staffing needs. When you have the cash on hand to recruit and find the best talent, then you will always have the resources you need to succeed.
The most successful staffing companies are the ones that actively pursue talent and constantly look for the best personnel options available. When a client asks a staffing company for help, the client wants to get the best possible talent at the best possible price. As long as the staffing company is turning its invoices around in a timely manner, then it will have the cash it needs to pay the personnel necessary to keep clients happy. But when the cash slows down and the past due invoices start to take over the aging report, that is when most staffing companies run into big problems.
The proactive staffing companies are the ones that have relationships with staffing factoring companies such as Capital Credit and use those factoring companies to keep the cash position stable. The reason that the best staffing companies are able to offer competitive prices is because they have factoring organizations processing their invoices and getting the cash into their bank accounts by the invoice due dates. As long as a staffing company does not need to go to a bank for expensive bank financing of its ongoing operations, then it can always pay competitive salaries for the best personnel available.
Every staffing company needs strong cash flow to be able to attract top talent, but this is especially true for specialty staffing organizations that deal with high income contracts. Engineering, IT support, and medical placement organizations are always looking for the best possible talent to meet the very specific needs of their clients. When a company calls up looking for an IT engineer, it wants the best possible engineer that the staffing organization can provide. Without the proper cash flow, the staffing company is unable to fill all of the special project needs of its clients.
Computer placement companies that need programmers fluent in several different languages will find that the market for these experts is extremely competitive. If your staffing company wants to find the right talent to make clients happy, then you need a healthy cash position to be able to pay the contract rates for these professionals. When you get involved with receivables funding through Capital Credit, you will always have the cash on hand you need to make an immediate offer to the talented individuals who will make your business successful. Immediate employment offers will always get the attention of talented personnel, and a receivables funding company can make sure that your company always has the cash it needs to attract those experienced professionals.
It takes cash to make a staffing company successful, but it also takes smart administrators who know how to use that cash properly. When you have a steady cash position created by the services of Capital Credit and a staff of experienced administrators who know how to find the kind of talent your clients need, then you have a successful staffing organization that will grow for many years to come.