2024 Canadian Staffing Agency
Markup Rates Guide
Table Of Content
Download Now: Free 2024 Staffing Agency Markup Rates Guide – For all Canadian Provinces
1. Key Components of Staffing Agency Markup Costs
Payroll Burden Costs:
Variable Cost Components:
Statutory Holiday Pay:
Administration Costs:
Administration Costs:
Capital Expenditures:
Regulatory Costs:
2. Understanding Payroll Burden Costs – By Province
3. Variable Workplace Safety Insurance Costs
Risk and Value Determination:
Rate Model Mechanism:
Average Rate:
Classification Risk and Rates:
Employer Size and Rate Range:
Experience Factor:
Claims Costs Impact:
4. Provincial Payroll Taxes
5. Statutory Holiday Pay
6. Liability and Other Insurance Costs
7. Hiring Volume and Hiring Process Needs
8. Job Position and Roles
9. Opportunities of Improvements
Next, let’s delve into some of the common inefficiencies in the staffing industry and offer solutions that can help streamline processes, improve candidate-client matches, and ultimately drive down costs.
Candidate Screening and Vetting Process:
Staffing agencies invest significant time and resources in identifying suitable candidates, leading to high markup rates. Streamlining this process through advanced candidate screening tools and efficient vetting techniques can reduce costs while ensuring better candidate-client matches.
Limited Digitalization of Workforce Management:
Outdated manual processes result in inefficiencies, extended hiring cycles, and increased overheads. Embracing digital transformation by adopting robust workforce management systems can enhance operational efficiency, minimize costs, and expedite hiring.
Mismatched Placements and High Turnovers:
Addressing the issue of mismatched placements is crucial. Implementing data-driven candidate-client matching algorithms and conducting comprehensive skills assessments can improve placement accuracy, lower turnover rates, and improve client satisfaction.
Information Silos and Disintegrated Systems:
Disconnected systems and information silos hinder real-time decision-making. Integrating systems and implementing centralized data repositories can provide holistic insights, reduce administrative burdens, and enhance cost-effectiveness.
Manual Error-Prone Methods:
Regulatory Compliance and Risk Mitigation:
High Capital Expenditures:
Cost of Capital for Payroll:
10. How Jombone helps you hire quality workers and save costs
Jombone is revolutionizing the industrial hiring and staffing service industry, which has resisted digital transformation for years. By providing businesses with a valuable alternative to traditional methods and minimizing expensive agency markups, Jombone unlocks the industry's complex, regulated nature. Powered by advanced technologies like Cloud, Artificial Intelligence, Blockchain and Fintech, Jombone enables hassle-free hiring of quality workforce and provides an on-demand payroll and real-time payments solution, benefiting both clients and candidates.
As a recruitment solution, Jombone helps businesses to navigate the fluctuating labour market dynamics, reduce turnover and do on-demand volume hiring by leveraging a unique Community Recruitment method. A ‘Community Recruiter’ is a Jombone gig worker who assists businesses in hiring local workers from within their communities.