Recruitment finance is crucial for any temporary recruitment company. Providing quality workers for any industry takes a lot of time and effort, so if you’re also juggling invoicing and payroll funding, you’re limiting the growth of your company.  

Bringing in the professionals to handle your back office gives you the freedom you need to focus on what matters. But what if the recruitment finance provider you’re working with isn’t right for you?  

Choosing to switch provider isn’t an easy decision, it can be a risky plunge into the unknown and a lengthy process, depending on your requirements. But it doesn’t have to be.  

Today we’re going to explain why it’s so important to switch to the best recruitment finance provider, when to do it, and how we make it a smooth transition.  

But first, let’s quickly explain why you need recruitment finance in the first place.  

 

Why is Recruitment Finance so Important?  

Recruitment finance is about more than just convenience. Of course, it does free up you and your team, but there’s more to it.  

If you’re relatively new to the world of recruitment, you’ll likely not have a team of finance specialists who can handle all the admin. Even if you do, they’ll quickly be stretched thin as you bring in more clients and expand your database of CVs. It makes a lot more sense to outsource these tasks to a team of experts who’ll give it their full attention.  

Working with a recruitment finance provider guarantees accuracy. From ensuring that every invoice is 100% correct, to providing regular updates for you and your clients, even something as simple as clear communication via email.  

Sounds great, doesn’t it? Well unfortunately not all recruitment finance providers are equal, and some recruitment companies work with back-office providers who aren’t willing to do things properly.  

 

Reasons to Switch Recruitment Finance Provider 

There are 3 main reasons to switch recruitment finance provider: 

  • Quality/Consistency 
  • Scale 
  • Selective Services 

High Quality Recruitment Finance Solutions 

The biggest reason to switch recruitment finance provider is simple: if they’re not good enough, it’s time to say goodbye. In the early days, a few mistakes here and there are forgivable, but if these frustrations continue it becomes harder to justify sticking with them.  

When your invoices are being sent back for corrections, or your temporary workers aren’t being paid on time, this reflects badly on you. As a growing business your reputation is crucial to maintain. A few bad reviews start circling and suddenly you won’t be the go-to for temporary workers in your specific industry.  

If you can’t keep your existing clients, it’s even harder to find new ones. Temporary recruitment is competitive, and it’s tough for a newer company to surpass those that have been trading for longer. With a sparkling reputation and commendations from regular clients, it’s possible to soar past your competitors.  

 

Scaling with your Recruitment Finance Provider 

It’s not uncommon for a temporary recruitment agency to outgrow their recruitment finance provider. We always recommend that agencies should outsource their back office as soon as possible so that it doesn’t hamper growth in those early years, but this often means that the company will choose a small and affordable provider that suits their needs at that time. 

But like with any outsourcing, you can outgrow their services or change direction so that they no longer provide the right support. If this is the case, or you see it becoming so in the future, it’s best to switch before it becomes an issue. You may also have more budget available, so can invest in a better service, or one that covers all bases.  

 

Select Recruitment Finance Services 

Some recruitment finance providers only offer certain services. They might specialise in recruitment funding, or only help you with your invoicing. If you have a payroll funding team already who can handle parts of the back office, that’s fine, but are they spending valuable time on a job that should be outsourced? 

If you need every aspect of recruitment finance, and most companies do, you need a provider who can do everything for you. Our service provides everything you need, including: 

If you need to bring in multiple companies to get help with all aspects of recruitment finance, the cost adds up fast. With one cost, and no hidden fees, our service is not only more convenient: it’s cheaper too!  

 

When to Switch Recruitment Finance Provider 

Knowing that you need to switch is one thing, knowing when to do it isn’t as simple.  

Unfortunately you can’t just send a polite email to your current provider and confiscate their logins. Switching recruitment finance provider leads to some downtime as client details are shared, and your new team gets to grips with your systems. Thankfully, by choosing us to switch to it’ll be as quick and painless as possible.  

We pride ourselves in the fluidity of our onboarding process. Our team get everything set up quickly, and in the meantime, we develop an in-depth understanding of you and your business. We’ll be representing you, and only want to do so with the right knowledge about you and your clients. This gives you the confidence to trust us, and you can rest assured that there will be no headaches in the future.  

This trust-building process begins even before you sign with us. We meet with you to establish your exact needs and preferences, as well as what you hope to achieve in the future. We’re very human-focused; knowing about you helps us provide a better service that you’ve had in the past. 

 

The Best Recruitment Finance Provider to Switch to 

Switching recruitment finance provider shouldn’t be taken lightly. But if you feel like your current provider isn’t pulling their weight, it’s time to make a change and release the cork that’s restricting your growth.  

Timing is everything when it comes to switching provider, but it’s more than worth a week or two of downtime. We’ve worked with temporary recruitment agencies for over 20 years now, and most of our oldest clients switched to us from an existing provider. 

To hear their stories, check out our blog for case studies about who switched, why, and when they knew it was the right time.