Posts Tagged ‘Recruitment’
5 PROVEN WAYS TO INCREASE YOUR RECRUITMENT AGENCY VALUE
Nearly every recruitment agency owner dreams of one day selling their business and walking away with a life-changing sum of money. However, only a small number can actually achieve this. Many agencies fail to prepare adequately for a sale, or they make mistakes that reduce the value of the business and make it less appealing…
Read More5 THINGS YOU NEED IN PLACE BEFORE YOU MOVE FROM PAY-AND-BILL TO INVOICE FINANCE
There are two main ways of financing temporary and contractor placements for recruitment agencies: using a Pay-and-Bill provider or an Invoice Finance facility. Each method has its pros and cons. Pay-and-Bill works best in the early stages of an agency’s journey into contract placements, or for low-level variable-hour temporary placements. Invoice Finance, on the other…
Read MorePOST-HOLIDAY BLUES… MAYBE YOU SHOULD CONSIDER STARTING YOUR OWN AGENCY
July and August are traditionally when recruiters take a well-earned break, whether it’s a staycation in the UK or a trip abroad, to recharge and reflect on their careers. For many, this downtime becomes a period of clarity and decision-making, and it’s often when the idea of launching their own recruitment agency starts to take…
Read More3 BENEFITS OF INVOICE FINANCE FOR RECRUITMENT AGENCIES
When a recruitment agency places a temporary or contract worker, the worker typically expects to be paid within seven days of submitting their timesheet, regardless of whether it is submitted weekly or monthly. However, many clients operate on 30–60-day payment terms, creating a funding gap that agencies must bridge. This cashflow gap can be covered…
Read MoreMAXIMISING YOUR SHAREHOLDING POSITION
Most recruitment agencies are registered at Companies House as limited companies, allowing the business owners to hold shares in the company. The number of shares and the rights attached to each share class are agreed upon and allocated accordingly. Owning shares typically enables business owners to receive dividends, profit distributions made after corporation tax has…
Read MoreWHY DO RECRUITERS INSIST ON DOING THEIR OWN INVOICING?
One of the most common frustrations we hear at MAYACHI when speaking with recruitment directors is their insistence on handling their agency’s invoicing themselves. Phrases like “It doesn’t take too long” or “It’s quicker if I do it myself” are often just excuses and signs that agency owners are reluctant to give up control over…
Read MorePERMANENT FUNDING, IS IT WORTHWHILE?
Invoice finance is a staple of the recruitment industry and is widely used by agencies making contract and/or temporary placements. These types of placements require access to funds to pay candidates before the client settles the invoice. However, recruitment directors often ask MAYACHI whether they should consider using invoice finance to fund permanent placement invoices…
Read MoreWHAT CAN I DO IF A CLIENT REFUSES TO PAY MY INVOICE?
Every recruiter loves to celebrate when a deal is signed and a candidate is due to start on-site with a client. However, from a business owner’s perspective, the deal isn’t truly complete until the client has made payment. Most clients an agency works with will pay within the agreed terms, or occasionally slightly later, to…
Read MoreHOW CAN AN AGENCY REDUCE CURRENCY LOSSES?
Overseas placements are becoming increasingly popular among recruitment agencies, thanks to higher profit margins and growing opportunities with international clients. While the process of making these placements is often similar to placing candidates in the UK, one key difference is that international placements are typically not conducted in sterling. As a result, agencies must manage…
Read MoreWHO SHOULD AND SHOULDN’T START A RECRUITMENT AGENCY?
Over the years, MAYACHI has spoken with many individuals who have decided to start their own recruitment agency. Many of them have spent several years working in the recruitment industry, have a clear vision for their new business, and a defined end goal. However, there are also those with no recruitment experience who assume running…
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