How else can staffing firms save time and money?
Hiring an employee at $16 an hour from a staffing firm with a 40 percent mark-up would end up costing around $22.40 an hour or $44,800 for a 50-week year at 40 hours a week without paid holidays or vacation. If a company were to hire that same employee on its own, after adding in taxes, workers’ compensation premiums, FICA, health insurance and other employee costs, that $16 becomes $19.20, which is $44,936 a year. Even though it might appear to be more cost-effective to hire the individual on your own, consider the fact that you now also have flexibility on the number of hours worked per week. In such a competitive market the person who wanted $16 an hour might work for $15 instead temporary employees become part of a cost-effective strategy. In addition, since the staffing firm handles all the recruiting and interviewing, those expenses can be eliminated and you are provided with multiple candidates from which you can select the most qualified. Further, if a temp doesn’t report for w
