Running a company isn’t cheap. A small team, or working solo, still involves a lot of overheads and surprise costs that can hit hard even when you’re doing well.  

This is especially true for a temporary recruitment company. As well as paying your team’s salaries and keeping the lights on, you also have dozens if not hundreds of temporary workers that need to be paid on a regular basis.  

Ensuring that these workers are paid on time is your main responsibility as a provider of temporary staff. Working with a recruitment funding company like ours means that you’ll always have access to the capital you need to keep things running smoothly.  

 

How to Finance a Temporary Recruitment Company  

The funds needed to pay your workers comes from invoices paid by your customers. But with multiple different invoices all being paid at different times, keeping track can be tricky. If you, like most recruitment agencies, rely on every invoice for funds to pay your workers, one being delayed can cause serious headaches.  

Part of our service involves accurate invoicing. We’ll send them on your behalf, with your company name and all relevant information attached, checking them multiple times so that they’re always spot on. This means there will be fewer reasons for a delay in your customers’ paying on time.  

However, delays still happen. Your customers may miss the incoming invoice or may not have the funds available themselves (which is why credit control is also important).  

To avoid this, you need a solution in place so you can always access the required funds. 100% recruitment funding means that you will have the funds you need no matter what happens, with no hidden fees. Think of it as a temporary backup plan, while you wait for a delayed invoice. This, like all aspects of our service, gives you peace of mind so you can focus on what matters most: running your business.  

But which temporary recruitment agencies benefit from recruitment funding?  

 

How New Startups Benefit from Recruitment Funding 

When you’re first dipping your toes into the temporary recruitment industry, there are a lot of costs involved from day one. You need the right systems, staff, and of course the candidates to send to your new customers.  

In these early days, even with a business loan or plenty of capital already, you’ll rely heavily on the invoices from customers to pay workers. Some new recruitment companies shy away from a service like ours, assuming it’s only beneficial once you’re more established. In fact we specialise in helping new start-ups to hit the ground running, and our service gives you all the support you need to get your foot in the door.  

Some of our team have a background in recruiting, so can provide more insight into what’s going on in the recruitment world or give you a few pointers if you need them. This, paired with our human-focused approach and simply doing our job very well, has made us the go-to recruitment funding provider in the UK.  

 

How Established Agencies Benefit from Recruitment Funding 

If you’ve been in business for a long time, you’d expect there to be fewer surprises when it comes to accessing funds. It’s true that you will have more invoices coming in from your many customers, but one may leave, putting a dent in your income, or the invoices may be delayed. A large-scale temporary recruitment agency has a lot of temp workers to pay, so relies on these invoices as much as they did when they first started.  

There’s also your reputation to consider. Being a force to be reckoned with in the recruitment world does mean that there will be more eyes on you than ever before. If your temporary workers are suddenly not being paid, they’ll speak out and/or switch to your competitors if the issue isn’t resolved quickly. By investing in our service, you’ll ensure that your reputation stays intact, and your biggest rivals won’t gain an advantage.  

Some large agencies still prefer to keep their team as small as possible, only bringing in new hires when they’re absolutely necessary. If your staff are juggling invoicing, payroll, and regular communication with multiple customers, they won’t have the time or energy to dedicate themselves properly to sourcing and providing candidates.  

By working with a third party like us, we’ll handle a lot of the boring admin. and handle it brilliantly. Your team’s skillset makes them the best at bringing in new candidates and sending the right CVs to customers, we’re amazing at invoicing, payroll funding, credit control, and building a trusting relationship with clients. Choose us and we’ll help everyone to focus on what they do best.  

 

Keeping Relationships Strong with Recruitment Funding Services 

If you’ve worked with the same customers for a long time, you’ll have a strong working relationship with them. By switching to a recruitment funding provider a new person will take over the communication. This is a reason why many recruitment companies, despite struggling with their funds, hesitate to make the switch.  

We understand that clear communication is essential for success, but that communication doesn’t need to be formal. With us you get a dedicated credit controller and a payroll manager, two points of contact who will be in charge of all communication with you and your customers. Since they’re only working with you and yours, they’ll build up a strong relationship quickly. This can be very professional if that’s what you and your customers prefer, or chattier and more casual while still getting all the relevant information across with every email.  

This is our ‘human-focused’ approach. We don’t just think of you as a client, we want to understand how you want to work, your goals, and even feel like part of the family. All of this helps to keep things running smoothly and build that all-important trust.  

 

The Importance of Recruitment Funding  

Each part of our service is vital for a busy temporary recruitment agency, and you could argue that recruitment funding is the aspect you’ll use the least when things are going well. But when the day comes that an invoice is late and you have workers to pay, you’ll breathe a sigh of relief when you can access the funds you need on time.  

No matter the size of your company, or the sector you specialise in, our recruitment funding service will give you peace of mind and improve the relationship you have with your customers and temporary workers.