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All posts tagged staffing

  1. Friends not Clients – Research by McGraw-Hill into why retailers lost customers showed that 68% went elsewhere because of indifference or the attitude of their salesforce. Only 14% went because they were dissatisfied with the product or service and only 9% went to the competition. Your customers will remain loyal if you pay them attention.
  2. When to communicate. – Those who communicate most do better than those who do it least. Do not worry about talking to customers too often. Worry about being a bore. Talk whenever you have something you think will be of interest.
  3. Network – Find producers in other areas such as insurance and financial services that would make valuable partners, and ask them to send out a letter to any clients they perceive as possibly having a need for the product you sell, mentioning you and your company. Because the referral is coming from a known source, you will see a high level of appointments come from this method.
  4. Relate to the person first. – When you first meet a potential client, make it a goal of talking about anything other than what the appointment is about before starting your presentation. This gives the prospect a chance to personally relate to you first, then as a trusted advisor.
  5. Say “Thank you” – Three must have are Specific, sincere and creative. Rather than just saying “thank you” or using a generic statement like, “thank you for take the time to meet with me,” be specific. In order to offer sincere thanks to clients you need to be a keen observer. Lastly, be creative with a gift.

 

Understanding the US Staffing Industry & Revenue

Many of us have either used or will use the services of a staffing agency during our lifetime to either search for a suitable career, part-time position or to be placed at a temporary job. However we often overlook the business, economic and social impact this one hundred and twenty-four billion ($124 billion dollar in 2012) industry has in the United States and our local community.

According to report published in the Staffing Industry journal conducted by the Addison Group, there are one hundred and five (105) staffing firms in the Unites States that have annual revenue exceeding one hundred million dollars. These one hundred and five staffing firms have approximately 54.1% of the total market share and have combined revenue of over seventy billion ($70 Billion) dollars in the US alone in 2012.

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The current state of the US Economic Recovery & the Staffing Industry

Since the end of the Great Recession, which severely impacted the US and Global economy, things have turned around slowly. The US economy has been steadily expanding for more than five years. Many critics say that the economic recovery was extremely sluggish because it took the about five years to recover all the jobs that were lost during the course of the eighteen (18) month long the recession and slowdown.  Labor force participation is at the lowest it has been in decades, yet the employment rate has declined to the previous normal levels.

The staffing and recruiting industry on the other hand has shown tremendous resilience during this recovery period.  The industry saw an unprecedented growth during this time unlike any other recovery period.  The Great Recession which was determined to be the worse blow to the US and global economy since World War II lasted eighteen months, whereas all the other ten (10) recessions since the World War II lasted only ten (10) months.

In our next segment we will analyze the factors and variables that led to the speedy and robust recovery of the Staffing and Recruiting industry and why it fared so much better than the overall economy.

 

References

  • Staffing Industry Analysts, Timothy Landhuis, Research Analyst at the Addison Group June 27, 2013