The staffing business grows increasingly competitive, and your company is only as strong as your internal employees. How can you quantify their performances? Tracking the right metrics can help you evaluate your team and identify areas where you can improve their results and your profitability.
Track how much revenue each employee is contributing to your organization. Are they each bringing in new business regularly? Track the number of sales being made, the size of those sales and the profitability of each opportunity they close. Consider whether you can increase revenue by increasing your sales volume or by focusing on less frequent, but higher dollar-value placements.
How profitable is the business your employees are bringing in? Control how often (if at all) your people offer discounted rates to win business. Train your employees to sell the quality of your service rather than undervaluing your expertise by discounting. Clients are often willing to pay a premium for premium service. Add value to your offerings to attract people who don’t mind paying for top results. Analyze where you achieve the highest profits and encourage your sales team to concentrate on those kinds of placements.
Average Billings and AR
Performance peaks and valleys are to be expected from any employee, but how much is each person contributing on average? Are customers paying on time? If an employee brings in plenty of business, but customers are slow payers, it cuts into your revenue dramatically. Ensure that your staff does their due diligence on clients. It’s easy to get so excited about closing a sale that making sure the customer pays their bills on time is an afterthought.
At Avionté, we provide solutions for staffing firms that help you manage key metrics that can be the difference between profit and loss. We make it easy to drive growth, maximize profitability and streamline your administrative tasks, so that you can focus on your serving your customers. To learn more about the many benefits of Avionté staffing software, contact us today.