A good temp staffing agency does more than just simply help you fill temporary staffing positions. They also have extensive network connections. By tapping into those connections it will help give you a competitive edge. Part of that edge comes from the fact that your agency is a great source for market intelligence.
Here are three types of market intelligence that your temp staffing agency can provide to you:
- Industry Trends
- Competitive Wages
- Availability of Candidates
When selecting a temp staffing agency you would want to select one with experience in your industry. Not only does that experience help the agency fill your needs, but it also can be a tremendous source for market intelligence.
Your temp staffing agency also partners with other companies within your industry. Because of this background they become aware of certain trends. For example they may have valuable knowledge concerning the following:
- Initiatives that your competitors have taken
- What industry trends are working and which ones are not
- The latest innovations
- Have access to cross-marketing opportunities
You want to take advantage of the fact that your temp staffing agency has a pulse on your industry. The insider info that you receive because of that pulse can help you adapt to any industry changes.
Another area where your temp staffing agency can be a valuable source for market intelligence is in regards to competitive wages. They are aware of the wages being offered for certain type of job positions. Also through their contact with other companies in your industry they may be aware of the wages being offered by your competitors. They may also be aware of the different types of benefit packages being offered.
Obtaining this information can help you to make needed adjustments to make sure that the wages being offered are competitive. Even though you may mainly associate a temp staffing agency with temporary staffing positions, this info can also help with attracting talented individuals to permanent positions.
Availability of Candidates
Another area where your temp staffing agency can be a source for market intelligence is they have valuable info concerning the availability of candidates. They would be aware of the talent pool sizes of different types of job positions.
Knowing the availability of certain key roles in your company can help with your employment strategy. If certain key positions are harder to fill then that may reflect in the wages being offered. Also, if you have a temp worker who excels in a position that is not easy to fill you may consider offering them a permanent position.
By tapping into the network connections of your temp staffing agency this will give you access to important market intelligence. That intelligence concerning industry trends, competitive wages and availability of candidates will give you an edge over the competition.