Starting a Staffing Business: 4 Best Practices for Revenue Growth
2016 is coming to a close – can you believe it? The end of the year is a sobering time for the staffing business owners, directors, VPs, and C-level executives who predicted a 25% growth in revenue by the fourth quarter. There were big growth expectations for 2016 – how did your staffing business do?
In today’s post, the AtWork team shares 5 best practices for revenue growth to help you achieve your staffing business goals in 2017!
Identify Which Clients Are Profitable – And Which Ones Aren’t
Analyzing performance metrics is a key part of any revenue growth strategy, but it’s particularly useful as a way to separate the “wheat from the chaff” where client profitability is concerned. Take a look at your businesses data and transaction history, then develop a workable “ratio” that tells you the amount of hours invested each client compared to the ROI. In doing so, you’ll be able to focus your efforts and staffing business resources on clients that are profitable. This is key if you want to build a higher quality sales pipeline. You don’t have to “fire” those clients who aren’t generating a big ROI for you, either – just try your best to assign this less profitable work to your employees, or find a way to streamline automate the process entirely.
Make the most of social media conversion opportunities
Today, more and more staffing businesses are realizing that one of the best ways to increase access to passive candidates is through social media engagement. Many modern recruiters rely on LinkedIn, but there is value in leveraging all of the “big three.” LinkedIn, Facebook, and Twitter offer countless opportunities for staffing business growth. Though Facebook is typically underutilized by staffing business owners, it has nearly five-times the number of registered accounts than LinkedIn. It may be considered a “personal network” in most people’s eyes, but its user database, search and targeting functionality, and “Group/Page” assets really go a long way.
Remember the SEO adage, “Content is king!”
Experienced staffing business owners know that it can be hard to get highly desirable candidates to answer phone calls or respond to emails. It’s nothing personal, but there are only so many hours in a day, and top-tier talents get a lot of attention from recruiters when they’re not already busy with projects or work contracts. Engaging these kinds of candidates often requires a different approach, and in this regard, content is king. Compelling, informational content attracts eyes. Share hiring tips, interview advice, and other industry insights via discussion forums, blog posts, and social media shares, and you’ll attract a steady flow of candidates over the long-term. Just make sure that the content links back to your staffing business website!
Give The Workforce What It Wants
Temporary hiring has never been hotter. Growing numbers of American job-seekers are losing interest in full-time employment, preferring instead to earn an income while enjoying the flexibility of contract work. Employers are also tending towards part-time work as a way of avoiding costly benefits packages. If you want to attract the maximal number of candidates while giving your clients what they want, invest in temporary staffing solutions!
You can continue your research on revenue growth best practices by visiting http://www.atworkfranchise.com.