May 21, 2018

7 Ways To Save

One of the most important elements of your organization’s success is staffing the right personnel. Many times companies do not understand the costs associated with finding that “right fit”. Staffing Companies save companies money on these costs. There are essentially seven ways a staffing company can reduce costs and save your organization money. Below is a brief article on the seven substantial savings by utilizing a staffing agency.

7

Ways To Save Through Staffing Services

1. Try Before You Buy! (Temp to Permanent Options)

  • Have you ever purchased a car without a test drive? Why hire an employee and pay for upfront costs (onboarding, recruiting, and insurances) before taking them for a test drive.

2. Save Time and Money on Searching for Talent

  • Finding that right candidate to join your team is a time-consuming process.

3. Onboarding and Offboarding Costs

  • The cost of hiring and training a new employee can range from 20% - 200% of annual compensation,

  • Currently, the average minimum cost to hire a new employee is $16,177.

  • The average turnover costs for an $8 an hour employee is $3500 (20% of the salary).

  • 22% of employees leave their job within 60 days

    46-50% within the first year

4. Immediate Reduction in Unemployment Costs

  • Staffing Agencies cover the employee unemployment costs during their trial period.

5. Costs savings on worker’s compensation insurance

  • All employers have dealt with worker’s compensation. The employees are covered by the Staffing agency. This will save you money instantly.

6. Save money on Employee benefits (Medical, dental, LTD, Vacation, etc)

  • Utilizing a staffing agency allows you to save costs on benefit contribution.

  • Some employers contribute up to 35% of their employees medical, dental, vision, 401k, and leave packages.

7. Reduction in Payroll Costs

  • Payroll is time time-consuming. An agency that supplies you with personnel can save your HR time on their payroll and timekeeping.

For your free copy of 7 Ways to Save Through Staffing Services and a free customized analysis of your staffing costs, complete the form below.