Posted by Liz Greene
The staffing industry is the hardest hit sector in America's economic downturn -- according to Staffing Industry Analysts, employment is off by over 22% -- but reaching into new and growing markets may be the key for staffing firms to diversify and regain their secure footing. According to the twitterstream, the word of the day at today's Staffing Industry Executive Forum was "nichey." Topics of discussion ranged from diversity and government contracts to the dizzyingly complex and risky independent contractor segment, as top staffing executives explored ways to offer new value to clients and capture new revenue streams.
Timed with the Executive Forum, MBO Partners announced yesterday the creation of a Staffing Alliance that would enable qualified staffing firms to leverage the industry's leading independent contractor engagement platform. The result: better contractor compliance for clients, new revenue for distressed staffing companies, and an improved business experience for contract talent.
We know about niches. We are the essence of "nichey." Our company, MBO Partners, has been around since 1986 and we’ve performed well during good times and bad. If anything, we do even better whenever there is an economic shakeup. We help independent consultants, independent contractors, freelancers, and small consulting start-ups by giving them a legal and business operating infrastructure. We also get them access to group benefits, and they can outsource their billing and collections to our capable hands. It's not traditional "payrolling" -- don't misunderstand. These consultants can still operate as de facto self-employed consultants, with their own business expense deductions and multiple, self-selected clients. And they can be W-2 at the same time, if they don't have their own compliant corporation. Small shops of 5-8 consultants operate their firms through our infrastructure. They work on a Statement of Work (SOW) basis. They can be hourly, fixed price, or even commission. Or all combined. Any way these people need to be engaged or paid, we do it safely, efficiently, and cost effectively, while preserving their independence.
We know some things about weathering economic storms, too. Unlike a lot of companies that make just a few, large bets, we make lots of small bets. Our bet is on the entrepreneurs of the American economy, or as Gene Zaino likes to say, the “solo-preneurs.” Our business banks on smart, independent, and driven small-business people. Mom-preneurs, retiring baby boomers who want to work in a new way, subject matter experts, and free-spirited Gen X and Y consultants that can’t imagine working for a rigid corporate structure. These are our customers, and with our help they can live more prosperous lives than they would without us. They are our community. We call them Executives, because each of them is the executive of their own independent business division inside MBO.
[Editorial aside: In case you didn’t know, there's only one thing we do. We are not a staffing company. We aren't a VMS. We don't do recruiting or placement. We aren't an MSP. We partner with all of these, but what we do is support independent consultants with the finest technology and customer service platform available. Our business relies on win-win-win situations. We bring our proprietary system, MyBizOffice, that can do what no other system can. We bring efficiencies to the table that help everyone do business in better ways. We focus on delivering a high quality experience that consultants can rely on for the long run. Some consultants have been with MBO for a decade or more.]
Any time there is a downturn, the contingent workforce acts like a shock-absorber. Of course staffing is down. You’ve chosen a path that is closely hitched to the ups and downs of the market. But the use of independent contractors, consultants, and freelancers is on the rise. Independent contractors are the fastest growing segment of the US workforce, and the demographic and social trends assure us this will continue.
We're excited about the new Staffing Alliance and what this means for everyone involved. Better compliance, better efficiency, and consultants who are really happy because they get to keep their sole-proprietor freedom and tax breaks. You can get "nichey" instantly.
Everyone benefits in the lifecycle of our business, and in my mind, that is one of the keys to our durability and sustainability. Beyond the niche, if I could offer a word of business advice in these times, I would say, “look for the win-win.”
If you want to get involved, or learn more about the program, reach out and talk with us.
The staffing industry is the hardest hit sector in America's economic downturn -- according to Staffing Industry Analysts, employment is off by over 22% -- but reaching into new and growing markets may be the key for staffing firms to diversify and regain their secure footing. According to the twitterstream, the word of the day at today's Staffing Industry Executive Forum was "nichey." Topics of discussion ranged from diversity and government contracts to the dizzyingly complex and risky independent contractor segment, as top staffing executives explored ways to offer new value to clients and capture new revenue streams.
Timed with the Executive Forum, MBO Partners announced yesterday the creation of a Staffing Alliance that would enable qualified staffing firms to leverage the industry's leading independent contractor engagement platform. The result: better contractor compliance for clients, new revenue for distressed staffing companies, and an improved business experience for contract talent.
We know about niches. We are the essence of "nichey." Our company, MBO Partners, has been around since 1986 and we’ve performed well during good times and bad. If anything, we do even better whenever there is an economic shakeup. We help independent consultants, independent contractors, freelancers, and small consulting start-ups by giving them a legal and business operating infrastructure. We also get them access to group benefits, and they can outsource their billing and collections to our capable hands. It's not traditional "payrolling" -- don't misunderstand. These consultants can still operate as de facto self-employed consultants, with their own business expense deductions and multiple, self-selected clients. And they can be W-2 at the same time, if they don't have their own compliant corporation. Small shops of 5-8 consultants operate their firms through our infrastructure. They work on a Statement of Work (SOW) basis. They can be hourly, fixed price, or even commission. Or all combined. Any way these people need to be engaged or paid, we do it safely, efficiently, and cost effectively, while preserving their independence.
We know some things about weathering economic storms, too. Unlike a lot of companies that make just a few, large bets, we make lots of small bets. Our bet is on the entrepreneurs of the American economy, or as Gene Zaino likes to say, the “solo-preneurs.” Our business banks on smart, independent, and driven small-business people. Mom-preneurs, retiring baby boomers who want to work in a new way, subject matter experts, and free-spirited Gen X and Y consultants that can’t imagine working for a rigid corporate structure. These are our customers, and with our help they can live more prosperous lives than they would without us. They are our community. We call them Executives, because each of them is the executive of their own independent business division inside MBO.
[Editorial aside: In case you didn’t know, there's only one thing we do. We are not a staffing company. We aren't a VMS. We don't do recruiting or placement. We aren't an MSP. We partner with all of these, but what we do is support independent consultants with the finest technology and customer service platform available. Our business relies on win-win-win situations. We bring our proprietary system, MyBizOffice, that can do what no other system can. We bring efficiencies to the table that help everyone do business in better ways. We focus on delivering a high quality experience that consultants can rely on for the long run. Some consultants have been with MBO for a decade or more.]
Any time there is a downturn, the contingent workforce acts like a shock-absorber. Of course staffing is down. You’ve chosen a path that is closely hitched to the ups and downs of the market. But the use of independent contractors, consultants, and freelancers is on the rise. Independent contractors are the fastest growing segment of the US workforce, and the demographic and social trends assure us this will continue.
We're excited about the new Staffing Alliance and what this means for everyone involved. Better compliance, better efficiency, and consultants who are really happy because they get to keep their sole-proprietor freedom and tax breaks. You can get "nichey" instantly.
Everyone benefits in the lifecycle of our business, and in my mind, that is one of the keys to our durability and sustainability. Beyond the niche, if I could offer a word of business advice in these times, I would say, “look for the win-win.”
If you want to get involved, or learn more about the program, reach out and talk with us.
No comments:
Post a Comment