Operating a staffing firm is no easy task, as Carlos Sanchez, CEO and president of 360° Staffing, has discovered. When he founded his business in 2007, he knew it would require a lot of hard work. However, he has gotten assistance from a factoring partner that alleviates his temporary payroll funding needs, allowing him to focus on building and managing his business.
As a staffing firm specializing in light industrial, office support and hospitality, with 24-hour service and thousands of employees around the globe, 360° Staffing needs a temporary payroll funding partner that understands its business needs and is ready to step in at a moment’s notice.
“Having a payroll funding factor stabilizes my costs,” Sanchez says. “My factor has been instrumental in understanding my needs as I grow and helping me fund new projects.”
For example, during Hurricane Sandy, 360° Staffing placed hundreds of employees in damaged areas to help with cleanup and rebuilding. Sanchez notified his factor that he would be upping his workforce, and the company assured him it had his back.
“I went out on the beaches myself to assist the recruiters, find people to work and prepare the employees for how to do their jobs,” he says. “Having my funding taken care of took away a big headache so I could focus on the task at hand.”
Sanchez is a hands-on boss who leads through example, arriving at the office early and leaving late. He also strives to interact with his employees and has been known to drive temporary employees to and from job sites or buy them a meal.
“I believe my example motivates my employees,” Sanchez says. “They see me and have access to me. They know I’m just like them. Having a factor that handles my payroll gives me the time I need to focus on these interactions and therefore grow my business.”
For Sanchez, having a factor with horizontal communication is key. He has a key employee at 360° Staffing who works directly with the payroll funding company’s employee, who has a similar job function. This relationship allows 360° Staffing to submit client applications and soon after, receive detailed information on the client.
“With previous factors, they would only tell us whether the client was approved or not,” Sanchez says. “Now, we have a dialog, and the factor tells us why the client didn’t rate well and how we can modify contract terms for an individual client. They really partner with us and have our best interests in mind.”
Sanchez also maintains communication with the top management at his payroll funding company, who keep him abreast of what’s going on in the industry and who let him know of potential acquisitions.
For information on how TemPay can manage your payroll effectively and affordably, contact www.tempay.com or (866) 683-6729.