Improving Staffing Agencies Compensation Process
The hiring process can be a long, costly, rigorous activity and if it not executed properly can cause serious problems for any business. Unfortunately, many companies overlook the hiring process, resulting in unnecessary costs and unproductive employees.
Hiring a staffing agency will help you mitigate many of these issues. Some staffing agencies provide temporary workers, and others provide candidates for temp-to-hire arrangements. Regardless of the employment type, there are certain advantages to employers’ use of staffing agencies, including expertise, cost, availability of workers and employee retention.
How can Staffing Agencies improve their employee management?
Staffing agencies pride themselves on helping others make their business more efficient; however, it is important that agencies themselves improve their efficiency. One process where many staffing agencies can improve on is the compensation process for their candidates.
How can Staffing Agencies improve their compensation process?
The amount, location and pay period often differs for each company; staffing agencies must be able to have an organized, stream-lined compensation process.
One proven payroll method is using reloadable payment cards as a vehicle for compensation.
Benefits of Using Payments Cards for Payroll Responsibilities
The cheque creation, distribution and tracking process can be extremely time consuming. When preparing a cheque, companies have to order security cheques, organize and sign individual cheques, prepare for pick-up or mailing and then track through bookkeeping. This process uses up time and labour.
Payroll cards give you the ability to streamline this process. Once the cards are distributed, compensation can be loaded instantly while tracking and reporting of cards can be automatically done.
Agencies often overlook the cost of issuing cheques. When a company issues cheques, they accumulate expenses while ordering, paying for labour, distributing and paying additional cheque fees. Using paper as a vehicle for delivering compensation leaves a trail of unnecessary costs that can be avoided by using these cards.
One of the biggest hassles for the staffing agency and staffing agency employees is the distribution of cheques. Often, agencies deal with many different companies and many different employees. Each one of these distribution processes is unique depending on location, amount and payment cycle.
When using payroll cards the distribution process is executed instantly. Using online management, staffing agencies can load all payments with a click of a button, avoiding having to mail or organize a pick-up for the cheque, saving the agency time and money.
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Staffing agencies compensation