Over the past year, I’ve had the privilege of interviewing some of the top minds in staffing for our podcast Secrets of Staffing Success podcasts. These include the leaders of some of the most successful staffing agencies in the US and Canada to discuss what it is that they do differently. Here’s some of what I’ve learned.
They Identify Key Metrics
I’m continually amazed when I ask clients, “What goals have you set for your company next year?” and their answer is, “We don’t really have any.”
What? How can a staffing firm know what is working and what isn’t working if it doesn’t even have any goals in the first place? Anyone who took marketing or sales 101 classes knows that all goals should be measurable. And a great way to know if you are achieving your goals is by looking at key metrics. For example, you should know on a quarterly basis your client retention percentage, new gross profit, and percentage of candidates placed. If you have multiple locations you should be looking at these metrics on a location by location basis not just as a whole company.
I also encourage my clients to do a mid-year assessment. Use these metrics to track your goals. If you’re on pace to reach those goals what can you do now to exceed them? If you’re falling off pace, what changes can you implement to get back on track for the second half of the year.
They Don’t Settle
Going hand-in-hand with setting goals is never settling. -Right now things are going well in our industry, but we all know that won’t last forever. When things are going well it can mask a lot of potential issues. Now is the time to evaluate your processes, identify potential threats, and reassess your goals. Think about what will prevent you from not only surviving, but thriving, during the next downturn. (Yes it is possible!)
The most successful staffing leaders are never satisfied. When I had Scott Wintrip on the show, his advice to all staffing sales reps was “be greedy.” It’s a great mentality to have. Why limit yourself to 10 new prospects a week. Why not 25? Why not 50? Why not 100?
They Know Their Place
If you ask your employees what your company’s key differentiator is, how many answers will you get? Too often if we ask 10 people we get 10 different answers. It’s critical for all staffing firms to know what sets them apart in their marketplace. Saying “we have the best people” doesn’t count! That’s what 75% of your competitors are saying. Having that truly unique differentiator not only sets you apart but also sets the table for all of your marketing and sales initiatives.
They Are Brilliant at the Basics
Hat tip to one of our guests, Leigh Ann Pagnard, for this: What’s one of the aspects of baseball you hear little league coaches saying over and over? “Fundamentals.” If you don’t have a metaphorical master’s degree in the fundamentals of staffing and recruiting, how can you possibly be successful? This may sound obvious, but there are probably people in your organization who don’t know the ins and outs of every aspect of their job.
So get back to the fundamentals, the basics, of your game. It can be as simple as finding great articles (like this one!) to share with your team. Or weekly meetings to brainstorm ways you can streamline your processes to make yourself more efficient. Whatever way you choose to train your staff, do it! After all, you don’t want to “settle” do you? Look, there’s that word again.
The staffing industry is on the brink — We are on the brink of some major technological advancements — some will be good, some will be a threat. We may also be on the brink of a downturn (don’t worry, I knocked on wood while typing that). It’s crucial for you to know what it will take for your firm to face these challenges head-on and thrive!
