Simplicity launches industry's first 100% finance and 12-month rebate scheme
Simplicity, the specialist provider of recruitment finance and outsourced administration solutions, has introduced the recruitment industry’s first 100% recruitment finance and 12-month rebate scheme for permanent recruitment businesses.
Designed to help recruitment business owners bridge the financial gap between the moment an invoice is sent and the time the client pays the money into their account, Simplicity says its 100% Perm Finance 12-month rebate scheme enables recruiters to take advantage of the positive hiring economy and scale-up their businesses.
David Thornhill (pictured), managing director of Simplicity said, “Take two recruitment business owners, both of which start their agencies at the same time and are equally strong sales consultants. Fast-forward 12 months and one of these agencies is continuing to grow its client portfolio and consultant head count, while the other is playing catch up – frustrated at their slower pace of growth. What is making the difference?
“Money, or to be precise the lack of access to the money they are due. Successfully placing a number of candidates is all very well, but if clients are taking 60 or 70 (or more) days to pay their invoices, recruiters simply can’t grow their business at the rate they want until those funds have cleared their account.
“That’s why it is not only important to regain control over their finances it is critical to the agency’s long-term success.”
Simplicity claims its 100% Perm Finance solution provides 100% of finance upfront as standard on all permanent placements. It says rather than having to wait upwards of 30 days for an invoice to be paid, agency owners can have immediate access to 100% of the net fee within days of their placement starting.
It adds that in doing so, any worries over cash flow or ability to cover essential outgoings, such as staff wages and day-to-day bills are eradicated. Rather, recruiters can focus less time on chasing payments and more time on chasing new business and other fee-generating activities.
Thornhill added, “Our 12-month rebate scheme is unique too. The solution is simple: If a candidate should leave a client’s employment within their first 12 months, we pay the rebate for them. This, combined with gaining full access to our suite of tools, gives recruiters the platform to increase fees whilst improving profit margins at the same time.
“All of which means that cash flow is secured, profit margins are increased and recruiters can grow their business faster and smarter than many of their competitors.”