Doing the same thing may allow you to stay in business, but it is the big idea that will separate you from your competitors and allow you to maximize your sales, profits and value of your company. So what are some things that can be converted into the next big idea?
We can go back a few decades to find seminal ideas that helped boost the staffing sector. The big ideas: that corporate clients could better afford paying hiring fees instead of job seekers, that companies would be willing to pay for the outplacement of executives who they terminated, using temp for interim assignments who could also do the job less expensively and MSP/VMS for economies of scale, just to name a few.
So what will be the next big idea? We can look around for current changes taking place in the economy, life style changes or other situations ripe to create a staffing opportunity.
We now have both the new healthcare laws starting to go into effect this year and next and the elimination of the payroll tax holiday. For smaller clients the difficulty of having to deal with theses changes can become our opportunity to payroll their employees and become the employer of record, relieving them of this burden and do so less expensively as well. Those doing payrolling are already primed for this, but those who are not need to get up to speed to provide the same service. This will entail develop an infrastructure to handle payrolling, documenting the savings they can provide, package this service and then aggressively market this service.
As a result of the current political climate, there is now a major divide between the right and left on many social issues that we can take advantage of; as the AMAC formed a socially conservative senior organization as an alternative to more liberal AARP. For example, staffing companies can rebrand themselves based on local social values (i.e. American Values Staffing or Equal Opportunity Personnel) with a promotional tag line for their services.
There are possibilities for big ideas we can create out of whole cloth. Automation has been a driving factor in a tepid job recovery while corporate profits and stock prices have risen markedly, the impact of which has eliminated millions of jobs while making the U.S. more competitive. This pace will only accelerate and those who ignore this trend do so at their peril. The government’s keen awareness of this situation is showing up in anti-immigration policies, tensions over the second amendment and general social unrest. We can help in this transition. A larger staffing company’s big idea can come up with alternative solutions for a smooth transition (perhaps even funded by federal and state monies). Smaller companies can work at the local level to retrain workers, get into career transition counseling, re-position themselves into the right niches, etc.