One thing stays constant in business and that is risk. This is especially true in the staffing and recruiting industry because of the number of problems the industry as a whole has to deal with. But what exactly are the options available to you to minimize the risk involved when working in the staffing and recruiting industry?
The Root Of Staffing Industry Risk
Before we tackle the ways you can cover yourself and minimize the risk involved, we first have to take a look at the root of the problem. Staffing and recruiting industry risk stems from the fact that they offer a service where candidates are presented to clients and they are paid for the service. There are certainly times when the process goes smoothly, but more often than not, the staffing company will run into a problem called backdoor hiring.
Backdoor hires happen when a client hires a candidate without notifying the staffing company. This causes them to lose out on the fees and practically work for free.
What Can Be Done to Reduce Staffing Industry Risk?
There are a number of ways you can tackle the risk involved in the staffing industry and backdoor recruitment processes. We’ve explained them below to help you be able to make the right decisions to reduce the chance that you have to deal with this problem and be able to quickly recover in case you do have to tackle it head on.
Ensure That You Have a Signed Contract That Covers You Legally
There is nothing more important in the staffing industry than making sure that you have a contract. A contract is a legally binding document that ensures that you are protected. However, it wouldn’t do much if the provisions in the contract end up voiding you out of your own contract. Yes, we’ve had a client that had a provision that voided them out of their own contract. Make sure that you constantly check your contracts and revise as necessary to avoid being in the same situation.
You should also ensure that you have a written and signed contract. This is due to verbal contracts only being valid within twelve months of the interaction. They can also use the fact that there was no signed contract as a defence in court. This makes it easier for your client to avoid paying you your owed fee.
Consider a Personal Guarantee
One of the worst things that could happen to a company is to declare bankruptcy and close their doors. However, it is also a problem for every single company that they owe. If you’re one of them then you might just be out of luck. However, a great way to make sure that a company pays you even if they’ve declared bankruptcy is to have a personal guarantee signed.
You may be wondering how a personal guarantee can help you collect. The main reason why a personal guarantee helps you collect on backdoor placement fees is because it ties liability to the individual running the business and not the company. This means that even if the company, which is it’s own entity, closes, the debt is still owed by the individual running it.
Improve Relationships With Both Clients and Candidates
As a staffing and recruiting company, you have to understand that you are providing a service that will be paid at a later date. This opens up the possibility of you providing that service and your client simply running away with the fruits of your labor without paying you anything in return. This is why having good relations with both your clients and candidates.
It takes both of them to agree to the hiring for it to turn into a backdoor hire. If your candidate trusts you more than the client, it will be rare for them to agree with the backdoor hiring proposition of the client because they have nothing to gain and everything to lose from it. The candidate may even warn you of the client’s plan to backdoor hire them and you can stop a problem before it even happens.
Have an Audit Trail To Follow
A valuable tool for reducing staffing industry risk is to have a paper trail for each of your clients. This lets you track everything that you need to make sure that you can minimize your staffing industry risk while also making it easier for you to track any backdoor recruitment processes that might have gone unfound. You should ensure that the audit trail you’re following has all the info that you need to create a solid case in case it comes to that point. This includes any agreements, both verbal and signed, information regarding the fees owed and the candidate himself.
We’ve had a case where the lawyer of the debtor defended the case by saying that the candidate that they hired wasn’t the same person as the one that was presented to them several months back. The audit trail of our client proved it otherwise and the case was deflated in an instant.
Use Technology To Your Advantage
The staffing and recruiting industry, like many other industries, has evolved over the years. Not only are the styles that used to work in the past less effective, but they are slowly becoming outdated by today’s standards. However, the great part about the progress of the industry is that there are many great tools that you can use to improve your odds of success and reduce the amount of staffing industry risk you have to deal with.
An example is the online service provided by Back Door Hire Solutions that lets you credit check any company for free. This opens up a number of possibilities for you while also closing the door on the risk.
Have a Team of Lawyers or Professional Collections Company Available
An essential part of dealing with problems in most businesses is to make sure that you have the contact details of a third party that can help you. Tackling the problem yourself could make the problem worse at times. We’ve had many clients that have gone and ruined their case because they opted to directly interact with the offending debtor instead of having a third party handle it for them.
These third parties can either be your lawyer, or a professional collections company that can deal with the problems while you focus on providing your services for your more loyal clients. Regardless of who you utilize in these situations, what matters is that you have to make sure that you’re covered legally by those qualified by those to do so.
5 Workplace Trends That Are All About the Future
Our workplaces have changed a lot over the past few decades. They’re always evolving, keeping pace with the latest technologies, large-scale social transformations, and new levels of human freedom. Sometimes these changes are quite slow, but there are moments in human history that can cause business owners, government officials, and other policy-makers to speed this process up.
The COVID-19 pandemic seems to be a historical event of this kind. It has affected our workplaces dramatically. Now we’re all wondering which of these innovations are temporary and which ones are here to stay. In any event, employers have gained a new perspective they wouldn’t have developed otherwise, and they have more info to act upon and make decisions about this. Here are some of the most important trends we’re already seeing in our workplaces that are all about the future.
Surely the most obvious change we’ve experienced since the start of the epidemic is a huge increase in remote work. Of course, many companies started utilizing telecommuting a while ago, but many others first introduced it only recently as a response to social distancing measures.
So what are the consequences of this massive experiment? A lot of businesses have realized that they have increased productivity and/or cut expenses after most of their employees started working from home. Surely, this fact wasn’t unheard-of before the crisis, and giants like AT&T or Dell reported they had saved millions of dollars thanks to different telework initiatives. But only now it is becoming a fact wide-spread enough that we can expect it to cause changes on a global scale.
Moreover, remote work suits employees as well. As much as 91% of them say telecommuting is a good fit for them, and 37% would agree to receive a 10% pay cut in exchange for working from home. Also, the number of available different jobs that can easily be done from any spot on the planet is on the rise, so telecommuting seems like one of the trends that will only grow in popularity.
Emphasis on work-life balance
If we want to understand the workplace of the future, we need to recognize that the upcoming generations have different priorities. Chasing more and more money at whatever cost doesn’t seem too appealing to millennials and Generation Z. This should turn out to be beneficial for companies as well, as we can expect more productive workers once the stress levels start to fall. Namely, a staggering 60% of workers experience performance drops as a consequence of chronic work-related stress.
Of course, businesses will have to adapt to this reality. The best salaries are not sufficient to attract the best talent anymore. The new generation’s priority is to have the best possible balance between work and life and to have an opportunity to live their lives to the fullest. That’s why we’ll see companies investing a lot in employee experience. This includes providing some essentials such as sick leave or flexible hours, but also some apparently less important perks like cozy offices, game rooms, or creative team building ideas. Organizations will have to adapt their entire cultures to this new set of employee demands.
Some companies even allow power naps at work. It may sound silly, but it’s actually perfectly sensible given that the effects of sleep deprivation include lack of focus, poor memory, emotional stress, and erratic behavior. It seems that in the future, businesses will want their workers to be stress-free and well-rested so that they can truly excel at their jobs.
A certain amount of flexibility from both employers and employees is becoming a must for any successful company. We’ve already seen that workers will expect less rigidity about when they will work and where they will work from. But we’ll also see executives expecting employees to show some adaptability.
Most businesses of the future will have their work processes and activities dictated by new technologies as well as their ever-changing markets. This means they’ll need some quick learners on the team, who should even be ready to unlearn some of the things they know in order to adjust to new circumstances.
Furthermore, the focus of employee training will be acquiring a wider set of skills and cross-functional knowledge that can prepare them to jump in new positions whenever necessary. In combination with increased talent mobility, this will allow companies to scale their business easily.
You don’t really have to be a prophet to anticipate artificial intelligence taking a large part in the workplace of the future. Up to 47 percent of US jobs might be at risk of being completely automated in the next 20 years.
This makes it even more important for workers in many branches to diversify their skills if they want to survive in the new, AI-driven reality. As Marc Andreessen, a famous American entrepreneur put it – in the future, there will be two types of jobs: people who tell computers what to do and people who are told what to do by computers.
AI already has a significant influence on the world of business today. Different AI-backed softwares help companies streamline workflows and increase productivity. They collect and interpret massive amounts of data that affect practically all important business decisions. And because they’re basically self-learning and self-teaching algorithms, they’ll only get better at it.
Fewer long-term commitments
We’ve already seen that new circumstances will lead to a lot more flexibility at work, in terms of talent mobility, diversification of skills, and roles and positions that are not as well-defined as in the old days. This will have another important consequence. It will inevitably lead to a less stable job market, which means fewer long-term contracts and more contingent workers.
And it’s already happening. More than 90 percent of millennials expect to stay in a job for less than three years. The fact that there are more and more independent short-term projects and on-demand work has influenced a huge increase in the number of freelancers, and this increase won’t be stopping any time soon. Thirty-six percent of Americans are freelance workers, with this number predicted to hit the 50-percent mark as early as 2027.
Given the convenience of freelancing and the evolution of different platforms for freelancers, this doesn’t necessarily have to be a bad thing. However, the gig economy has many downsides, and the never-ending uncertainty it entails can be stressful and overwhelming. Freelancing is a great path to take when it’s a matter of choice, but when it’s a matter of no choice, it can be difficult and distressing.
As always, the workplaces of the future will shape the workers of the future. These places will be exciting and unpredictable, but also vicious sometimes. And this job market will demand dynamic, agile, and versatile candidates that can adapt quickly and fit multiple different roles.
That is, if there are no major surprises in the forthcoming years. But we’ve seen we can’t take that for granted. We have no idea just how bad the consequences of the current epidemic-induced crisis could be, let alone predict what the decades ahead of us will look like. We can only be sure they won’t be boring.
3 Tips Hard Working Entrepreneurs Can Use to Sleep Better At Night
Sleep can have a direct effect on your mind and physical health. If you are experiencing some problems, then chances are your entire day doesn’t go quite well.
Getting a good sleep at night might seem very challenging, but just because you haven’t found the way doesn’t mean it’s not possible.
It might be some unhealthy habits that you do every day or something that is not in your daily schedule. But by using the following tips and experimenting, you can try to improve your sleep at night.
Avoid Disturbing Your Body’ Natural Cycle
Being entirely in sync with your body’s natural sleep-wake cycle is among the best way to get better sleep.
If you try to wake up and sleep around the same time every day, then you might end up feeling more energized and refreshed. That is why you can try to download your favorite soothing music from YouTube with www.flvto.biz/en64/youtube-to-mp3/ and get some relaxing sleep.
You should also try to avoid sleeping in on the weekends because it can disrupt your sleep-wake cycle. Instead, you can try getting in a nap in the afternoon if necessary.
Control Your Exposure to Different Forms of Light
There is a natural hormone in your body called melatonin, and it is particularly useful in regulating your sleep-wake cycle.
You see, the human body produces more melatonin when it’s dark and tries to get the body to sleep. But when it’s light, then it produces less to keep the person more alert. This simple hormone could be the reason why you have trouble sleeping at night.
However, you can improve by doing these simple things:
- Don’t use any bright screens for at least 1 to 2 hours before you go to bed.
- Stay away from the TV at night. Try to get some music or audiobooks instead by using a youtube to mp4 converter.
- Block all the light when it’s time to sleep.
- If you get up any time during the night, keep the lights down.
Get Some Exercise In During the Day
Exercising during the day can be instrumental in keeping you awake and active. But it can also help you get better sleep at night.
Many studies show that exercise can improve symptoms of insomnia and sleep apnea, as it can give you more time in the deep stages of your sleep.
The harder you work out, the better your sleep will be. But that doesn’t mean a 10-minute daily walk can’t help you get a good night’s sleep.
But it might take several months for you to fully experience the sleep-promoting benefits of exercise. That is why you need to find something that you love, and make sure to make it a habit.
You also need to work out in the morning or the afternoon instead of at night. Otherwise, your metabolism will speed up, body temperature will rise, and releases several hormones in your body at night. All of which can be a problem if your workout was within three hours before your sleep.
How Freelancers Can Stay Positive During the Coronavirus Crisis
There is hardly an industry or a world country that hasn’t been hit by the coronavirus pandemic. What started as a medical crisis soon turned into an economic disaster. As people were instructed to stay at home and distance socially, workers lost their jobs, so now there are millions of people on the brink of survival.
Freelancers were hit especially hard because they didn’t have a huge corporation to stand behind them. In order to stay in business, us freelancer have to stay positive and come up with innovative ways to revive our business when the COVID-19 outbreak subsides.
It’s OK to accept help
Humans tend to be overly proud sometimes, refusing to accept help from anyone. However, the situation of the global economy is such that you cannot stay afloat financially unless you accept and even seek out a helping hand. If your friends, family, and business partners are offering short-term loans, don’t hesitate to take them.
Furthermore, explore what banks have to offer and find out if the national or regional government is offering subsidies for people who have lost their jobs due to the pandemic. The interest rates of coronavirus-related grants and loans are symbolic, so they’ll help you stay liquid without incurring too much debt.
Staying positive all the way
The less work you have on your hands because of the coronavirus crisis, the more free time you have. In fact, you might have the most free time you have had in years. Don’t let this time go to waste, as you need to stay productive, even if you’re not profitable.
The worst thing you can do is lament over your faith, as billions of people are affected by the pandemic. On the contrary, take up guitar lessons, practice your driving skill, or attend an online seminar; whatever will make you a better person and a professional when the outbreak is over. Staying positive all the way is among the top priorities for every employed person, not only freelancers.
Staying in touch
Although it is true that social distancing can significantly reduce the spread of the virus, this doesn’t mean that you should withdraw from social life altogether. It is not necessary for two people to physically meet o stay in touch, especially now when there is a myriad of online communication channels. In fact, you can conduct business operations through video conferencing without the need for any downloads or plugins for all users.
When it comes to your personal life, now that everyone is staying at home is the right time to send them a message or pick up the phone and call them. As people across the globe are learning to take things slowly, you can use this opportunity for networking and getting ready for post-pandemic life.
The time to revise your contracts
If you’ve had a lot of clients and sent and received a lot of payments during the previous years, then you probably haven’t had the time to revise your contract policies. Taking the time to amend them now will help you stay (financially) safe in the future.
The biggest alteration you need to make is the stage of the project you get paid, i.e. when do you receive the money. Ideally, you should receive the payment before the project start but getting the payment half-way through is still a good option.
The worst-case scenario is that you get paid after the job is done, which puts you at great risk. Freelancers don’t have tons of cash to go about, so you need a constant influx of dollar bills.
Now is the time to be innovative
It might not seem like a good idea at first but now that’s you have fewer clients and less work at hand is the ideal time to innovate. A good industrial mechanic will tell you that they overhaul machinery when it stops working, so the same principle can easily be applied to your freelancing career.
The lockdown is the best time to test an app or extend the array of services or goods you offer. Like we’ve stated earlier, you can use this time to educate yourself as well through learning new skills online. This of this effort as a spiteful personal countermeasure against the havoc the coronavirus has wreaked in the global economy.
Don’t cancel everything; put in on hold
The reason why people lose their jobs is that clients have ceased all work. The same thing is happening to freelancers worldwide but instead of indolently accepting cancellations from clients, try to place them on hold.
If you “park,” a project, it will be easier to restart it once the outbreak loses momentum. A cancelled job means that you have to start the whole process all over again and that’s only if the client doesn’t hire a different freelancer.
Remodel your offer
Finally, you should rethink your offer and try to stay in the business despite the lockdown and cancelled deals. Yes, we are referring to going online. If you’re a schoolteacher, then you can offer online classes to your students, both group and individual ones.
Remodelling your offer involves additional market research to estimate what has changed. We guarantee you that the need for your goods and services is still there but the format has changed completely. Brick and mortar stores going online is the best example of businesses adjusting to the new reality.
Times are hard for freelancers but staying positive about future prospects is the only guarantee you will stay afloat. From accepting help to rethinking your business model there are numerous ways to proactively approach the coronavirus crisis and its consequences.
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