Many temp staffing agencies struggle with cash flow management, which can cause significant problems. What cash flow plan do you have in place?

According to a February 23, 2009 fact sheet by American Staffing Association, temp staffing firms placed 2.66 million workers every single day during 2008, with a total of 11.2 million temporary and contract workers employed in the United States in 2008. That amount of staffing placement requires significant cash flow management.

Temp staffing employees are working in more and more occupations. How will you free up cash flow management to expand industries you serve?

According to the American Staffing Association, temporary workers are being placed in occupations ranging from day laborers to company CEOs. Because of this growing diversity, the temp services industry is also growing.

In 2001, here was the staffing breakdown:

Companies hire more temporary workers during uncertain economies. Does your staffing business have a cash flow management plan in place?

According to John Reed, senior vice president for Robert Half International in Dallas, companies control costs (salaries, benefits, training and retention) when nervous about the economy by hiring more temp workers.

Terrific wage news for IT temp employees translates into a cash flow management problem for information technology staffing services agencies.

A recent study shows that IT experts who work for temporary staffing agencies make 20% in wages than their counterparts who work a full time job in the IT field.

Invoice factoring companies expertly address a challenge unique to staffing firms.

Today, I will spotlight one industry that greatly benefits from receivables factoring: staff firms, more specifically:

• temporary staffing agencies,
• nurse staffing agencies,
• medical staffing agencies,