Oil Field Hauler
Staffing Oil Field Service
Temporary employment firms are experiencing record-high demand for their services due to current economic conditions throughout the U.S. The Wall Street Journal reported in 2012 that temporary jobs were responsible for 25 percent of all jobs available in the private sector during the early part of the year. Temporary staffing companies are called upon to provide a wide range of specialty services for their clients. This often requires the recruitment and retention of qualified staff members with advanced computing skills, specialized accounting knowledge or experience in contract management processes. Industrial hiring may present even greater challenges for temporary employment firms; the demands of manufacturing companies for talented and knowledgeable staff members can be difficult to find in the temporary staffing marketplace.
Acquiring the Right Staffing Resources
Taking on new staff members in the temporary field can be a costly enterprise, especially for individuals in demand by major clients. Staffing bonuses, benefits and processing costs can quickly add up to major expenses and may create significant cash flow problems for smaller temp firms. Finding a way to manage these costs can be the key to cashing in on current expansions and increased demand in this rapidly growing industry. Unfortunately, many firms are already overextended in the traditional credit marketplace and may not have the necessary options to obtain added working capital in the current tight credit economy.
Finding the Funding for Expansion and Growth
Asset-based lendinfg for staffing empployment agencies offer an alternative to traditional lenders and provide fast solutions for cash flow difficulties in the temporary staffing industry. These loans use accounts receivable invoices and service agreements as collateral, allowing cash-strapped headhunting and staffing firms to manage the expenses associated with new hires more effectively. Because A/R loans are fully secured with the value of outstanding invoices, they do not require the same spotless credit records and strong financials on the part of the borrower. Instead, these lenders base their approvals upon the strength of the client companies that owe money on these invoices or service agreements. This can provide an added tool in the financial portfolios of headhunters and temporary staffing firms.
Smaller employment firms can find the working capital solutions they need from companies like 1st Commercial Credit. These lenders are especially useful when coping with immediate cash flow difficulties; approvals typically take 24 hours or less, and loans can be funded within five working days. By choosing alternative lending solutions to fund expansion within the industry, staffing firms can often achieve an improved position in the temporary employment marketplace.