For staffing agencies, there are two important key performance indicators to track. The time it takes to fill a job and your staffing agency fill rates.
With that said, we cannot overlook the fact that there are still companies who take a long time to make a decision, even if you deliver prime candidates. Many times, the decisionmakers do not have any viable reason as to why the process is slower than anticipated.
Below are four items that you as a staffing agency can do to help increase your fill rates and reduce the amount of time it takes to place a qualified candidate.
Breaking the filling process is a method that will help improve the speed of filling positions. As you break down the process into different stages, you can identify any delays that may occur.
But how does this help you? By doing this, you understand the time taken by each job order through the different stages. You can make a note of the amount of time spent on each task. If you can spot the specific step or task that is slowing you down, you’ll then be in a position to make good decisions that will help you eliminate the bottleneck.
Fixing an identified problem is easier than trying to speed up the hiring process blindly.
By making a comparison of your clients, you’ll identify the most reliable clients whose process with candidates is quick and efficient. It also helps you note adjustments that can be made to enhance or speed up the process. As you do your client analysis, you are also able to see whether you are providing your clients with competent candidates for the requested positions.
Why is this important? It helps you know whether a certain point in your recruiting process slows down your clients and their recruiting teams. If the problem is on your end, you can find a way to improve it. If you can note the specific hick-up, you should organize a training strategy to improve it. If you make the specific task swifter, then chances are the filling process will be improved.
Sorting out successful placements from the lost ones has many advantages. First, it helps you access the success rate of your staffing agency. Second, it provides an analysis that will help your team identify job orders that are likely to be successful and help further define your staffing agency niche.
As you increase your fill rates and take on more contracts, payroll funding can help grow your business. Payroll funding provides consistent cash flow by paying you same day on your invoices. Payroll is met weekly or bi-weekly with ease. To learn more contact us through our website or call (800) 707-4845.