As the staffing industry continues to evolve at a rapid pace, some of the tools, technologies and processes you’ve leaned on for years are changing too.
Look at the job board, for instance. Once the center of your recruiting strategy, job boards are now relegated to one component of your strategy. As fewer contractors search for temp or gig opportunities and submit their information on a job board, the industry has evolved to meet and communicate with candidates using their preferred methods.
Contractor redeployment maximizes and activates your database, nurtures contractor relationships and keeps your lights on as your clients continue to be thrilled with the talent you place within their organizations.
And according to our research, many staffing firms are failing to take advantage of redeployment to grow their businesses. In fact, we’ve found that staffing firms fail to redeploy from 70 up to 95% of their talent.
Yes, that means in many cases, contractors only complete a single contract for staffing firms.
Increasing your redeployment rate can have a dramatic impact on your staffing firm’s bottom line. With such anemic redeployment rates for many firms, how much impact could, say, doubling your redeployment rate have on your revenue?
Try 20%. Simply by doubling your redeployment rate. In fact, using technology to access your database, and automate contractor engagement and redeployment communication can do much more than double your redeployment rate when used effectively.
It’s no surprise that more staffing firms are prioritizing redeployment -- and researching technologies that help them more effectively leverage their databases to engage contractors. But have you ever considered that redeployment isn’t just good for your business, it’s good for your contractors, too?
Make no mistake, right now, talent has the upper hand. They are in demand, and they know it. But while contractors today are taking advantage of the gig economy to build custom career paths, they are simultaneously counting on you for redeployment. Here are two (2) main reasons why:
1. Everyone likes to be valued.
This isn’t exactly scientific, but it’s human nature. We all like to feel wanted and in demand! When a staffing partner comes to them repeatedly for redeployment opportunities (particularly when staffing firms use technology to communicate with them on their preferred platforms), contractors get a nice boost of pride. They feel good about themselves and the quality of their work. They’re also much more likely to respond to your next message or accept that next position. In other words, they’re much more likely to be loyal to your firm. It’s another element of human nature: We want people and even brands to treat us well, so that we can be loyal in return. We’re hardwired that way! It’s always a good thing to be the staffing firm that makes contractors feel good!
2. Contractors thrive on flexibility, but also want stability.
Many contractors are lured by the flexibility (and often higher wages) associated with gigs or temp work. But at the same time, everyone needs to pay bills, and many contractors like the balance of flexibility and stability provided by strong relationships with staffing firms. They often count on redeployment opportunities as they forecast their income and budgets.
You know how improved redeployment rates can impact your bottom line. You also know that contractors value redeployment as much as you do. It’s time to take action! Follow these steps to improve contractor engagement and ultimately redeployment rates to give your temporary talent what they want:
1. Improve communication before, during and after engagements.
There is an unfortunate truth facing the staffing industry -- its history precedes us all. Overworked recruiters spend too much of their time focusing on busywork and administrative tasks. Although unintentional, this leads to candidates who feel undervalued and sometimes leads to a negative impression of the staffing industry.
There is a single step you can take that will abolish fears of history repeating itself with your contractors -- communication. Throughout the hiring process, before an assignment, during an assignment, after an assignment and between assignments, communicate with your contractors through meaningful messages. Show them that you care about their success, even when you don’t have a good-fit position at the moment!
2. Tap into your database to better match contractors to opportunities.
Historically, your ATS was a black box. It contains a lot of information, but it’s all sort of a mystery.
The rise of automation and AI has opened up the black box for your organization to view, understand and most importantly -- use that information. Your contractor database contains a wealth of information about contractor skills, experience and ultimately, their qualification for your current and future client openings. AI-powered job matching tools, smart audiences, custom segmentation builders...this is just the tip of the iceberg in what staffing firms can do right now (and we’re working on even more advancements as we speak). Tapping into this information can dramatically increase your redeployment rate, lead to happier clients and contractors and ultimately increase your bottom line.
3. Automate what you can so that nothing slips through the cracks.
Your contractor database could contain dozens to hundreds to thousands of temps. Sending regular, personal messages to all of them consistently throughout the year(s) is a lot of work! Rather than max out your recruiters (who are already pretty busy, we know), invest in automation technology (like Sense!) to send personalized messages to contractors using their preferred platforms. Not only will your messages be sent automatically, you’ll gain critical access to contractor data to measure the efficacy of your messages and contractor strategies.
Our platform enables you to take action on these recommendations and more to increase redeployment, improve contractor engagement and ultimately, impact your bottom line. We’re happy to walk you through our platform and show you exactly how it can help your staffing firm. Contact us to set up a free demo.