In today's marketplace, many consumers are accustomed to instant access to services, products and communications with companies. They are not waiting for a taxi to happen by or for a store to open in the morning. Why should they, when they can pull out a mobile device and make a purchase decision in seconds?
Staffing agencies are not immune to the changes that have brought about the "right now" marketplace. To achieve success in this environment, staffing professionals must be aware of how the expectations of businesses and jobseekers alike have changed. Adapting to these conditions can bring great opportunities, but you need the right infrastructure and tools in place.
The on-demand economy
The field of consumers taking advantage of the convenience possible through mobile technology is only growing. Harvard Business Review reported on findings from the National Technology Readiness Survey, conducted by Rockbridge Associates in October 2015, that showed how the on-demand economy has continued to expand and diversify. According to the figures, 22.4 million consumers spent $57.6 billion through on-demand channels, which includes purchases through online marketplaces as well as services like transportation, grocery delivery and health and beauty.
"The on-demand economy has continued to expand and diversify."
Importantly, this shift is not restricted to any one demographic. Forty-six percent of on-demand consumers have household incomes below $50,000. While 31 percent live in or near cities, 39 percent are in small towns and rural areas.
Staffing agencies operate very differently from the technology-based startups that make up much of the on-demand economy. Still, there is a great deal to learn from the examples of the companies competing in this marketplace. As Entrepreneur noted, many startups have fallen by the wayside in the struggle to reach the necessary scale.
A few key factors allow a business to thrive in this situation, which apply whether the company delivers food or helps workers find positions. It's important to maintain realistic goals and update them regularly while working through multiple channels to reach consumers. Agencies that keep these guidelines in mind are better positioned to succeed in a changing labor market.
The importance of real-time response
Reports from the U.S. Bureau of Labor Statistics show companies are increasingly relying on temporary workers. That makes it all the more important for staffing agencies to form connections with a range of contingent employees who can meet the particular needs of businesses as openings become available. It also calls for using powerful search tools to consult all available resources and find quality candidates, including internal databases, job boards and social networks.
Once candidates are in an applicant tracking system, an agency must be able to sort through the pile of resumes with ease and efficiency. With a fast-paced market and the need for a high volume of placements, time is of the essence – but so is making sure you have the right person for the job. Standardized profiles that allow staffing professionals to find appropriate candidates are a major benefit.
Meanwhile, another key shift that has occurred with the rise of the on-demand economy is the expectation of constant contact through non-traditional channels. Regular engagement with employers and jobseekers through phone, email and text messages can lead to more successful placements. Therefore, staffing professionals need to consider how they can store, organize and keep tabs on important contacts.
Software solutions to give you a leg up
How a staffing agency stores and manages vital information has a tremendous impact on its ability to achieve its goals. Maximizing placement volume in the "right now" marketplace requires staffing software built to meet today's demands. With CRM solutions designed specifically for staffing professionals, organizations can take control of the relationships their business relies upon.
By taking a firm grasp of social and mobile recruiting strategies, agencies can engage workers on their own terms. Establishing long-term connections and maintaining communications is simplified when a dedicated dashboard grants a broad perspective on corporate clients, job candidates and other key contacts.
When you're looking for a candidate who fits a role, there's no need to read through endless resumes. Give your agency an advantage with resume database software that makes it simple to assemble a ranked list of jobseekers who meet the criteria for a position. Then, send the relevant information to employers in an easy-to-read, appealing format that allows them to offer immediate feedback.
With robust software solutions, you'll be able to generate a variety of custom reports to track just how well your business is managing the challenges of operating in an on-demand economy. Plus, you have more time to focus on relationships when you can speedily generate timesheets and invoices.
The "right now" marketplace brings convenience, excitement and serious challenges for all kinds of businesses. By updating how they interact with companies and candidates, staffing agencies can get ahead of the game even in a world of instant gratification.