Administrative burdens, technology slumps, and meeting the bottom line. Staffing clients combat many headaches in their efforts to put people to work. For this, they deserve to be rewarded.
CTI sees the value that staffing firms bring to the economy, and we pay that forward by adding value to their bottom line. We can step in and help place them in a better financial situation when we maximize their Work Opportunity Tax Credit (WOTC).Want a demonstration? Here’s a success story in which CTI helped a staffing company optimize their WOTC potential beyond previous expectations.
Staffing Agency Success Story
One of our staffing companies was complacent with the status-quo and assumed they were getting the most out the WOTC program with their previous ‘big-box’ provider.
Many companies become comfortable with the results handed to them by their average vendor. Credits and incentives seem foreign, and hey, they’re the experts, right?
But little did the Staffing Company know that CTI could offer more than 3-times the credits than the previous provider. We came into the mix and offered a free ‘health checkup’ – we showed the company beneficial ways to monitor the success of their project and the view the credit earned year-to-date.
Just as an employer expects transparency regarding the candidates an agency provides their business, CTI offers transparency to our clients regarding WOTC program results.
Situation Normal – All Flawed Up
Before signing up with CTI, the Staffing Company discussed red flags that they recognized in their previous provider. For example, one of these red flags included obscure key performance indicator (KPI) reports, leaving the company to hunt down an unnamed representative to learn the progress of their WOTC project.
If the Staffing Agency couldn’t evaluate the KPIs provided in a confusing report, how could they know if the provider was delivering quality results? Full transparency eliminates this type of guessing game.
These are the type of issues that CTI works diligently to improve when we sign with a client. And our dedicated account managers are motivated to deliver the best possible results - which our clients often aren’t expecting.
Return to Good
After the client moved over to CTI, they encountered quite a surprise when they witnessed the level of attention that we bestow upon our clients. They were impressed with the type of on-demand reporting we provided on our Client Portal.
Not only does CTI put the KPIs on full display when you first log in to our portal, but upon delivery of the client’s first Performance Report, the dedicated Account Manager (who you will know by name) will have a quick five to ten-minute call to cover the details. This conversation sets expectations for both the client and CTI to get everyone invested in the WOTC program.
We like to empower our clients with this type of program and KPI knowledge, so they can fully comprehend the project’s level of success. And if something shows room for improvement, clients can see where we need to prioritize efforts.
To date, this client boasts a compliance rate that ranges from 91 to 100 percent and an average 38 percent qualification rate. CTI has already secured over $65,000 in tax credits as of mid-year (a 45% credit increase from their previous provider) and fully expect to reach $100,000 in Quarter 3.
If you’re interested to learn more about maximizing your WOTC potential, contact a CTI tax professional today.