Growth Opportunities for Staffing Agencies

May 31, 2016

Staffing agencies and recruiting companies are becoming more popular. Candidates depend on them to find jobs and employers depend on them to find qualified candidates.

Below are some interesting statistics from the American Staffing Association about staffing agencies, recruiting companies and the candidates and employers that use them.

Statistics about Staffing Agencies & Recruiting Companies

• In the United States there are about 35,000 staffing agency and recruiting company offices that make up about 17,000 total companies.
• Staffing and recruiting industry sales increased by 5.8 percent in 2014.
• Staffing employment grew by 2.6 percent in 2015.
• The staffing industry growth has outpaced overall economic and employment growth. However, it employs only about two percent of the total U.S. nonfarm workforce.
• During an average week, more than three million temporary and contract employees work for staffing companies.
• American staffing agencies hire more than 14 million temporary and contract employees during the course of a year.
• Almost 90 percent of temporary or contract employees employed through staffing agencies said that the position made them more employable.

Growth for Staffing Agencies & Recruiting Companies

The statistics above support the statement that the staffing industry is growing. Companies need assistance finding qualified candidates and candidates need to find employment. Staffing agencies are the ones to help. Take advantage of the growing demand by making your staffing agency stand out above the rest.

Payroll Funding to Help Staffing Agencies Grow

One major issue staffing agencies face is keeping up with payroll as demand for their talent grows. This becomes especially difficult when customers take 30 to 60 days to pay, and you need to pay your employees biweekly, or even weekly.

Payroll funding is a financing solution many staffing agencies depend on to help expand and grow their agencies. Instead of waiting to get paid, payroll funding gives you the working capital you need to pay your employees, get caught up on bills and take on new contracts. What’s more, when you partner with Scale Funding, you receive the value-added service of collections services, reducing burden on your team.

To find out more about payroll funding for your staffing agency, contact a financial expert at Scale Funding. 800-707-4845.