Staffing franchises may be more attractive to employers than ever.
Changes in overtime rules implemented at the end of 2016 are sure to lead to changes in the way companies - large and small - hire and staff. And while the jobs outlook is, as usual, a little murky, most employers expect to be hiring, with caution.
2017 Hiring Considerations and Staffing Franchises
Human resources experts' predictions for 2017 suggest that EEOC compliance will be increasingly important for employers - meaning professional staffing agencies that help their clients with compliance and documentation issues will be more attractive to employers.
Certainly, other rulings - like OSHA's recently-implemented changes in provisions for drug testing of employees following a work-related accident or injury - will give employers new food for thought when determining when or how to add permanent employees to their payrolls.
If you're considering the viability of a staffing franchise as a business opportunity, you'll need to do some research to learn how the current legislative environment is effecting employers, both nationally and locally.
Evaluating Your Local Hiring Landscape for a Staffing Franchise
In addition to understanding the most pressing issues hiring managers face, when evaluating a staffing franchise opportunity, you also need to take a fresh look at your market area and scout the local landscape for resources that will support your new business.
Local Labor Pool and Prospects
In an initial market review, consider the area from the perspective of both employers and job prospects. Ask yourself:
- What are the most common types of employment opportunities?
- How skilled is the local labor pool?
- What options do local employers have for hiring and expansion?
- What opportunities do area workers have for job growth and additional education?
On the "softer side" of your assessment, consider what you know about the area's demographics and characteristics that might affect a staffing franchise's success. For example, we know that employees are expected to continue to value flexibility (boding well for staffing firms and companies that use them). If your potential labor pool includes a high percentage of young families, offering flexible, part-time and seasonal work opportunities might give your firm the edge it needs to become established in the market.
Not surprisingly, a high percentage of Baby Boomers in the area might be interested in the same kind of flexibility, as they may be looking at options to continue earning after retirement.
Staffing Firms and Types of Employment Opportunities
Although it comes as a surprise to many, in fact, staffing firms help employers fill a wide variety of different jobs, including a range of skilled and unskilled labor and professional positions. (In its most recent measure, the American Staffing Association showed that staffing industry professionals are responsible for filling a rather even distribution of positions.)
Even if your area has several staffing firms, you could elect to serve a particular niche or industry that is not well supported in your market.
Business Community Contacts Vital to Success
Staffing franchises offer a unique business opportunity. While any employer theoretically helps improve a community by providing jobs, a staffing franchise is in the business of matching employers - who need workers - with individuals who need work (and income). Few businesses provide such an opportunity to help both individuals and regional development at the same time.
In today's highly-regulated jobs industry, employers welcome the help of staffing professionals with whom they can establish a comfortable and mutually beneficial working relationship. From assistance with payroll processing, compliance and benefits administration to employee retention programs and business succession planning, today's professional staffing firms offer a wide variety of services - for employers as well as job candidates.
If you are looking for an established staffing franchise opportunity so you can own your own business while helping individuals and businesses in your community, contact us.