Temporary Workers
19.12.2024
100% Recruitment Funding
Boost Your Agency with 100% Funding and Dedicated Support
100% recruitment funding is vital for any growing temporary recruitment agency. It gives you access to additional funds so that you can pay your temporary workers on time, every time.
Sometimes there are weeks where you have an invoice due, but it hasn’t been paid yet, for any number of reasons. When this is the case, recruitment funding ensures you have the funds available to keep your workers paid, until that invoice comes through, or another one is paid on time. If you’re juggling dozens of clients, or only a few, this can be a huge help
Why Choose us for Recruitment Funding?
As specialists in the sector, we deliver more than 100% recruitment funding as we are dedicated to supporting recruitment agencies with any cash flow issues. But it’s not all we do!
Some temporary recruitment companies pick and choose the services they need. They might get payroll support from one provider and help with invoices from another. Not only does this leave you swimming in emails every week, it’s also easier for something to go wrong.
At Back Office, we keep things simple. Every client has access to every service, no matter how much support they need. You might not need recruitment funding at the moment and have a continuous stream of invoices being paid reliably by your clients. But things can change quickly, wouldn’t it be better to have recruitment funding in place just in case you need it one day?
100% Recruitment Funding
Payroll Support
Paying Temps and Contractors on time
Invoicing Clients
Chasing Payments and Credit Control
Cashflow Support
Support with Compliance and Legislation
Recruitment Funding for New Agencies
If you’re just starting out, our service helps you hit the ground running.
In these early days, you want to focus all your time and effort on finding new candidates and clients to provide temporary workers for. If you’re instead being caught up dealing with invoices, payroll, and all the other admin tasks involved, that’s time you can’t use to grow your business. Many start-ups also want to keep their teams as small as possible at first – if you need to bring in admin specialists it’ll expand fast.
Reputation is everything in the world of recruitment. If you candidates aren’t being paid on time, they’ll quickly become frustrated and will likely switch to one of your rivals instead. To keep everyone happy, recruitment funding is the way to go.
Recruitment Funding for Established Agencies
No matter how long you’ve been providing temporary workers, cash flow issues can be inevitable. Some of our clients have been in business for decades but still rely on recruitment funding to keep things running smoothly. Even with a larger team, your staff can be stretched thin if they need to chase invoices and handle payroll. This can be a hassle that drains their energy, meaning they can’t dedicate themselves to their main tasks.
If you’re just starting out, are a veteran of the recruitment world, or anything in between, you should leave it to the professionals.
Building Relationships with Recruitment Funding
As you’d expect from Back Office Support Services, it’s easy to arrange your recruitment finance and sign up to our service. We support you every step of the way and are always close by if you have any questions or concerns about how we’re helping you. We want you to succeed as much as possible; if there’s something we can be doing better you should never hesitate to let us know!
Once you’ve signed up with us, you’ll be set up with two points of contact: your payroll manager and your credit controller. They’ll keep you up to date with all the regular goings on and give you a heads up if we see any changes or issues on the horizon.
And it isn’t just the relationship with your recruitment funding provider that will be better than ever!
Every part of our service helps you improve the relationship you have with your customers and candidates. When you’re always dependable, you’ll quickly become a leader in your sector, no matter how competitive it may be.
Our recruitment funding solutions provide complete back-office support to meet all your temporary payroll and credit control needs – all designed to free up your time to focus on what matters most: running your business.
See how Back Office can work for you
Here’s how we provide 100% recruitment funding to take stress out of running your recruitment business.
Giving you financial confidence
Cash flow is king for any recruitment business. You need ongoing access to finance to pay your temps and contractors on time, every time, and the peace of mind that everything is right first time so you’re not distracted from running your business.
To eliminate uncertainty, Back Office Support Services offers more than 100% recruitment funding. If you’re just starting out, we provide the financial support you need to immediately start placing temporary staff and contractors; and if you’re looking to switch recruitment finance provider, our track record speaks for itself.
Don’t take our word for it, hear what our customers have to say.
We’ll support you every step of the way
As you’d expect from Back Office Support Services, it’s easy to arrange your recruitment funding and sign up to our service. We provide a service which gives you so much more than just funding . Get in touch and we’ll assess what you need and answer any questions you have. We’ll even connect you to some of our existing clients if you want to hear their first-hand views about our 100% recruitment funding service.
We’ll explain how our fee works, how the process works and what you can expect from us. Our recruitment funding solutions provide complete back-office support to meet all your temporary payroll and credit control needs – all designed to free up your time to focus on recruitment.
We’re here to make recruitment funding effortless.
Our recruitment funding service gives you the time to focus on your business
Recruitment funding is beneficial for both new and well-established recruitment agencies. It frees up you and your staff so you can focus on running your business, and your team can focus on what they do best.
This part of our service works for agencies of all sizes. It isn’t industry-specific either, if your agency only provides workers for a certain sector, recruitment funding will still help you out.
What is recruitment funding?
Recruitment funding is a form of financial assistance that businesses can access to help cover the cost of paying temporary workers. It is often used by recruitment agencies who have recently started up or are looking to grow their business to help with their cash flow.
Who provides recruitment funding?
Businesses can access recruitment funding through different sources. However, the most common is via a recruitment funding provider such as Back Office Support Services who can provide a full end-to-end service.
How does recruitment funding help businesses?
Recruitment funding helps agencies fund and administer payroll obligations for temporary workers and provides them with their gross profit upfront. This allows agencies to concentrate on developing their recruitment agency and not be distracted with back-office requirements.
Who can benefit from recruitment funding?
Recruitment agencies from start-ups to established agencies across a range of sectors.
What are some of the expenses that can be covered by recruitment funding?
Recruitment funding is used to pay temporary workers’ payroll and provides recruitment agencies with their gross profit.
What is the application process for recruitment funding?
There is no formal application process for funding, every provider will have its own process and consultation method. Here at Back Office Support Services, we will get to know you and your business so we can ensure that our offer will work for you.
Are there any eligibility requirements for recruitment funding?
Yes, the eligibility requirements for recruitment funding vary by provider. At Back Office Support Services, we recommend that people have recruitment experience as there is legislative requirements which you need to understand. We would also require documentation to verify the identity of the director/s of the business. Many recruitment funding providers work in this way as it’s about meeting individual business requirements rather than being a rigid process.
How long does it take to receive a decision on a recruitment funding application?
The timeline for a decision on a recruitment funding application depends on the provider. Generally, the decision will be based on whether using the provider is the right way to go for their business. Once you have provided the right information and signed all the correct documentation to set up your account getting started can be quite quick.
What are the benefits of using recruitment funding?
The main benefit of using recruitment funding is that it covers payroll obligations for temporary workers, which in turn gives the recruitment agency time to focus on growing the business.
What services does a recruitment funding company provide?
A recruitment funding provider offers services such as payroll, invoicing, credit control and bad debt protection, as well as the funding to support the payroll.
How do I get started with a recruitment funding company?
The best way to get started with a recruitment funding company is to contact them directly and discuss your specific financial needs. They will be able to provide further information and assistance.
What is the difference between invoice financing and factoring?
Invoice financing is the general term used when someone wants to borrow money against an invoice. Invoice factoring is a type of invoice funding where the business transfers ownership of the invoices to a factoring company. With the invoice factoring model, providers like Back Office Support Services are the organisations that will take ownership of these invoices and take responsibility for collecting the monies owed from the business, such as a recruitment agency, so they can concentrate on what they do best.
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Uncategorized
18.12.2024