Owners Only- Decrease Expenses - Increase Revenue

  By Barb Bruno  |    Monday June 8, 2020

Category: Columns, Expert Advice


It is just incredible how much has changed worldwide due to Covid-19.  There is tremendous uncertainty in the world, but we’ve shown our resilience before and will do so again.  Think for a moment about where you were on 9/11 and the fear that consumed our entire country.  Do you even remember life before the TSA and increased airport security? 

I predict our new normal will be different, but companies will continue to need the best talent to help them achieve goals.  In fact, many companies are realizing they have access to talent now that have not been available for over three years.  Contracts and relevant jobs continue to be filled and the need will continue to increase as restrictions are lifted.

There are millions of people on unemployment, but you may not specialize in placing in the industries hit especially hard like Hospitality, Retail and Oil and Gas.   If you’re niche is hard hit, what other industry could hire the top talent you represent?  It’s time to get creative while you provide your clients with solutions and help candidates advance their careers.

Employers will be focused on two things; 1) how do they increase revenue 2) while decreasing expenses.  They are very concerned the employees they’ve laid off and furloughed are upset and may choose not to return.  Many people are updating their LinkedIn profiles, resumes and have started their job search.

Some employers have released employees who were paid high salaries or those who did not keep their skills and expertise current.  If they need to upgrade their teams, they will not be able to advertise on job boards or website postings, because their current employees would apply.  Their best resource will be the services you offer. You can provide them with temporary employees, contractors or full-time employees depending on their current challenges.

Just like your clients, as the owner of a Staffing and Recruiting firm you are wondering, “How can I increase profits while decreasing expenses.”  In addition to providing the normal services you offer, think about the importance of new sources of revenue.  Almost every vendor you utilize has an affiliate program that can generate passive income.  Simple examples are background, criminal or credit checks.  Imagine if you received an affiliate fee every time your client conducted one of these tests. 

If you own my Career Portal, you could offer it as part of the outplacement services you offer your clients who have had to lay-off employees they valued.  Imagine offering discounted outplacement services and generating $1,500 per employee for one hour of your time.  I partnered with DiSC Assessment Tools and if you’re interested in offering assessment tools as a revenue generator, please reach out and I’ll walk you through the process.

Decide today to take 5% of your cash in or GMP and place it in an interest-bearing reserve fund that is only to be used to invest in passive sources of income.  Imagine the benefit of having multiple sources of passive income that more than cover your overhead.  The possibilities are endless, and it will help solidify your bottom line regardless of economic conditions.  If you want additional information on our Career Portal or Assessment Tools, please reach out to Jodi my VP of Sales at jsvetich@goodasgoldtraining.com.

If you already own our Career Portal send an email to support@staffingandrecruiting.com and we’ll send you details on how to easily utilize this resource to add outplacement or career counseling as an additional source of revenue.  Imagine how your life would change if your passive income equaled your “active” income!

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