Should you Staffing Agencies use a Contractor Management Service?
Why are Contractor Management Services needed for Staffing Agencies?
Staffing Agencies have become an increasingly popular method of making project work more efficient. Companies around the world are utilizing staffing agencies to find workers for short-term projects and long-term roles, saving tons of time on the recruitment process while obtaining skilled workers who are committed to driving high quality work. However, the internal work of staffing agencies can get disorganized if they do not have a proper system of managing their talent.
Here are 5 reasons why your Agency should use a Contractor Management Service (CMS)
- Saves Time: Utilizing a CMS reduces the time spent on managing the staffing process by automating the hiring, onboarding, and HR processes. Contractor Management services eliminate the need to spend time worrying about the bureaucratic processes associated with running your agency. Specifically at Thera, we create locally compliant contracts and disperse payments directly to your employees in a matter of minutes, saving you hundreds of hours of time to focus on other aspects of your business.
- Saves Money: Managing HR yourself carries a heavy upfront cost. You need to invest in people to manage your teams, buy dozens of subscriptions to different services to pay your employees, and hire lawyers to navigate the complex realm of local labor regulations. However, with a CMS, all of these processes are streamlined through a single platform, allowing you to trim down on unnecessary expenses that can hamper the profitability of your business.
- Ensures Scalability: As a staffing agency grows, the complexities of managing multiple contractors also increase. A CMS can help staffing agencies scale their operations without a corresponding increase in administrative burden. In fact, at Thera, we offer bulk discounts for clients looking to scale – our goal is to make it easier for you to manage your growing teams.
- Improved Contractor Experience: A CMS can also help to improve the experience for contractors, making things like submitting timesheets and getting paid more streamlined and user-friendly, which can help improve contractor satisfaction and retention.
- Risk Management: Contractor Management services handle local, state, and federal compliance for your organization. There are intricate differences between “contractors” and “employees” that vary according to location, but CMS’ were built specifically to ensure compliance with all regulatory requirements. With Thera, you can create locally compliant contracts in over 135 countries and also switch contractors to employees using our EOR service.