Here's how staffing businesses can survive and thrive during COVID-19
COVID-19 has had a sudden and significant impact on the staffing industry. Here's everything you need to know to survive and thrive COVID-19 to set you and your team up for success.
You'll find some interesting insights on the impact to the industry, questions to help you sharpen your thinking and a plan on how to best setup your business to win.
Since COVID-19 was announced we have been reviewing and publishing data on industry trends to help agencies best navigate these interesting times. With over 6,500+ users, processing 67,000+ timesheets per week for 3M+ payees, we can see what’s happening.
PERM AGENCIES
Since COVID-19 agencies managing perm roles have dropped from the new year highs, with no sign of them increasing in the foreseeable future. Combined with a reduction in business confidence, makes it hard to forecast an uplift in permanent roles in the near future.
Agencies Managing Perm Roles Filled per Week
Anecdotal evidence from agencies who largely managed permanent roles support this data:
“Agencies that play in the white collar permanent space are in more pain, as this has ground to a halt”
“The new Sydney office was doing a lot of perm recruitment. This has stopped.”
“From a business perspective perm recruitment has stopped”
“Permanent placements have dropped off”
“Permanent white collar is down”
TEMP/CONTRACT AGENCIES
Since COVID-19 agencies managing temp and contract roles have declined from a new year spike, however unlike perm, the number has remained steady since. Leading experts, such as Greg Savage, are also predicting that temp and contract roles are most likely to bounce back first.
Agencies Managing Temp/Contract Roles Filled per Week
Anecdotal evidence indicates there is still demand in key industries and temp/contract roles are likely to bounce back first when business confidence increases:
“Temp has picked up in bank call centres and supermarket”
“The temp business is largely unaffected to date”
“Contract business is doing ok”
“Contractors are holding well”
“We are experiencing a spike in demand in transport and logistic space as well as hiring over 1,000 temps in the last few weeks for supermarket demand”
It means that now is the time to get your business ready to better manage a temp/contract workforce, so your business is ready to respond to clients needs when business confidence increases.
The first thing to check is if you are setup to respond to the potential increase in temp/contract roles.
Do you:
- Know your current business system falls short of what you need to stay ahead of your competitors?
- Currently use your finance system, such as Xero, MYOB or QuickBooks, to run your candidate payroll?
- Spend too much time entering, re-entering and reconciling data across multiple systems?
- Have more complexity in your business now than when you first started using your payroll software? For example, do you now have to manage candidates against multiple awards?
- Have to do most of your reporting and analysis in Excel?
- Have to adapt your business to your software, rather than having a solution made to better manage the complex temp and contract process?
- Constantly worry about the risk of payroll and invoicing errors? Concerned about how much time is wasted trying to fix or the risk you could be the next wage theft headline?
- Have too many manual, time-consuming manual processes when finding candidates, capturing time, interpreting timesheets, running payroll or invoicing clients?
- Currently outsource your payroll and want to have more control of your business and manage it yourself?
- Think FastTrack is too expensive for your business?
If you answered ‘Yes’ to any of these questions and see the opportunity to leap-frog your competitors then we can help.
We are championing the world’s best practice for managing temp and contract workers as efficiently and intelligently as possible, based on our 26+ years experience supporting the staffing industry. Core to this is the powerful all-in-one FastTrack360 recruit, time, pay, bill platform.
We also strongly believe that once we get through COVID-19 there will be a huge number of clients that need help finding the best temp and contract workers, so now is your time to set yourself up for this opportunity, as well as diversify your business to be more resilient for the future.
“Yeah, that’s great” we can hear you saying, “but there is no way I can afford that for my business”. Sorry, but that’s where you are wrong.
Did you know that many FastTrack360 customers have less than 10 users and 75 payees?
That’s why we have put together a new approach that is specifically designed to help agencies that want to set themselves up for success today and get live quickly, all for a low fixed price.
Don’t get us wrong. We know it can be a challenge to find the time, money and resource to upgrade your daily operations with the right software.
Meet the FastTrack360 Fast Lane.
With the Fast Lane approach, we implement industry best-practice for you, configuring key elements of the FastTrack360 platform to suit your specific business needs so you can get up and running faster. Designed to help small and growing staffing businesses streamline all aspects of recruitment in a single all-in-one platform as quickly as possible.
Our industry experts do most of the work for you to keep the cost down and help get you up and running within 90 days. Plus, our dedicated Account Management and Customer Support teams are here to work with you once you are live.
Right, so now you know you can upgrade your business using the industry best experience for a fixed price. How do you know FastTrack360 is the best solution for your business?
Sure we could wow you with the numbers like 3 of the 4 leading agencies use FastTrack360 to manage their temp and contract workforce better. Or big numbers like the 67,000+ timesheets processed each week for the 3M+ payees managed each and every year.
But that’s not what matters.
We have helped agencies like you, who wanted to upgrade their business and were nervous about the time, money, effort and return. And this is what they had to say:
- “In a bad week it would probably take us 3 days all up, from getting the timesheet to invoicing clients. Now in our commercial division where we are using the FastTrack360 online timesheets it’s only taking one day to get the timesheets, run payroll and invoice clients. Plus, we are now down from 5 adjustments to 1 per week on average.”
Read the Complete Recruitment Solutions case study here. - “We used a lot of manual spreadsheets. Now with FastTrack360 it’s all automated. Once you’ve set up rules and agreements, it’s very easy, and we don’t use any Excel spreadsheets anymore. Everything runs full cycle. The recruiters find clients and create a job order in FastTrack360 for every job. We get the timesheets from the workers, simply enter the hours, and then pay them. After that, we bill the clients so it’s one full cycle for us. Everything runs smoothly.”
Read the FT Workforce case study here. - “We wanted to avoid the heavy costs of multiple licensing fees from multiple systems.” Read the Dash Construction case study here.
Ok, so you’re keen to find out more. What now.
Easy-peesy. Just fill out the form below and we’ll be in touch to see if you qualify for the Fast Lane approach. Our team will help understand where you are today, and show you where you can get to tomorrow.
PLUS, if you get in touch today, we’ll also send you a FREE copy of The Ultimate Guide To Selecting The Best Recruitment Software For Your Business and the FREE guide on why Spreadsheets Are Killing Your Business.
Why? Because we want you to find the right software. And, selfishly, we only want to work with the right clients. So if we can help you find the best solution, and it’s us. That’s a win!
So what are you waiting for? Get in touch today 🙂
To help support our customers through COVID-19 we have a range of help available, including:
FREE Google Maps for 1 years! To help you protect candidates and minimise travel FastTrack360 customers can now use Google Maps free until April 2021! Now you can quickly run a search to find the best candidates near a job and quickly place them. It’s another step we wanted to take to help customers during this tough time.
FREE online Academy sessions! Join our gun Professional Consultants as each week they share their tips and tricks on how to make your business more efficient. They are short, sharp, fun and informative.
FREE onboarding! Our amazing MarketPlace partners have put together a range of deals, including two free onboarding solutions so you can reduce face-to-face time and provide a stellar candidate experience with our seamless onboarding solutions. Plus, upgrade your client quoting with free impementation. Check out the great deals from Flare HR, Onboarded, Ratescalc and more here>>
