ASA Central Network

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  • 1.  Compensation Models for Staffing

    Posted 02-17-2021 11:42
    Hello,

    We are new members to ASA and building our staffing branch of our company, and I am looking for information regarding compensation plans, bonus plans and how staffing agencies typically calculate net profit for those compensation plans. Is there a specific place I could find this information or would anyone be willing to share some insight?

    Thank you,
    Ryan Jordan
    rjordan@jordansc.com
    314-324-7826


    ------------------------------
    Kathy Jordan
    President
    Jordan Search Consultants
    O Fallon MO
    (636) 294-6081
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  • 2.  RE: Compensation Models for Staffing

    Posted 02-18-2021 09:26
    Edited by Jay Mattern 02-18-2021 09:26
    Welcome to ASA! After reviewing your website, it appears that you do executive search only and not contingent staffing. Compensation plans would be significantly different depending on the service(s) being provided. I am a little unclear on the role or roles under consideration for comp/bonus plans. That too will drive the types of plans you could develop. Since you mention net profit as a metric, it sounds like you are talking about leadership positions. 

    If that is the case, managers/leaders/executives are typically compensated with a package that might consist some combination of:

    • Base salary
    • Incentive driven by the results of direct reports
    • A bonus based on the EBITDA performance of the business
    • In some cases, ownership or phantom stock

    For additional help with this, I recommend that you reach out to Tom Kosnik of The Visus Group. He is a staffing industry consultant specializing in organizational structure and compensation plans.

    ------------------------------
    Jay Mattern
    CEO
    TerraFirma Marketing
    South Bend IN
    (574) 213-3855
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  • 3.  RE: Compensation Models for Staffing

    Posted 02-19-2021 15:25
    Thanks for your response Jay!   Our focus has always been on retained/direct hire recruitment for executive healthcare leadership, physicians and advanced practice providers.  During COVID we made a pivot and added contingent staffing to our service line.  We are in process of updating our website to reflect our new service line offering of staffing of allied healthcare workers.  Specifically we are heavily engaged in staffing for RN, LVN, MA,CNA, EMT for COVID testing sites around the country.   I am working on a compensation plan around salary and bonus/commission for the recruiters staffing these sites.  Would love to hear your thoughts on this.

    Regards,

    Kathy

    ------------------------------
    Kathy Jordan
    President
    Jordan Search Consultants
    O Fallon MO
    (636) 294-6081
    ------------------------------

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  • 4.  RE: Compensation Models for Staffing

    Posted 02-20-2021 07:42
    Hi Kathy,

    The medical staffing niche is booming.  As you start to staff temp/ contract medical positions, you should check with your work comp carrier to make sure it supports this niche.  Most carriers, given COVID, do not underwrite / support temp medical staffing now-- unless you are using the State Fund for your comp, or you have a specialized program.

    Stay safe,

    David.
      
      
    David Schek
    President
    Staffing Comp Solutions
    American Staffing Association Member
    ASA  Central 2019/2020 Most Valuable Contributor
    ASA PAC Contributor

    America's Leading Staffing Workers  Compensation Broker With 50 Years Experience. 
                            ------------------------------            

    How To Choose the Best Staffing Work Comp Broker:

    Workers Compensation Options for Staffing Companies: 


      
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