It might be hard to believe if the sun isn’t shining where you are right now, but summer is finally here! With the (hopefully sunny) weather comes a rush of summer temp roles as temporary agencies are flooded with candidates on the hunt for seasonal jobs. There’s always plenty of work going in the summer months, from festival and events roles to firms hiring extra cover for the holidays.
Is your recruitment agency ready for the summer madness? No need to worry if not; invoice factoring brokers can help you with recruitment factoring to get your summer off to a flying start!
Factoring for Recruitment Agencies
Whether you’re a temp agency that specialises in short-term placements or a recruitment agency that sometimes places temps, you’ll know just how much money you can spend advertising for temporary candidates. As summer approaches, your marketing spend increases as you advertise to attract new candidates and clients for all those seasonal roles. You’re likely to schedule a lot more interviews and meetings too, so summer can be an expensive time for any recruitment agency.
Whether you specialise in temps for national events or are hiring for summer cover for local office roles, ensuring that your agency has stable cashflow can help you provide a reliable service throughout the year. Recruitment factoring is a great place to start, and invoice factoring brokers can help you get set up.
What is Recruitment Factoring and is it Right for Me?
You might be hiring students, those between jobs or recent graduates for a variety of temp roles across different sectors, but attracting the best candidates is the key to success. It doesn’t matter whether you’re a large, national recruitment chain with offices across the UK or a small local temp agency placing seasonal workers in roles in your town, your marketing budget is important. By ensuring you have the budget to hand to meet your commitments, you’ll position yourself as a reliable company to both clients and candidates, building a great reputation and a loyal customer base.
We know the summer months can be a hectic time for any business, but temp recruitment really takes off during the sunnier months of the year. With clients getting in touch to fill last-minute temporary roles for events or holiday cover and temps submitting weekly time sheets for payment, it can be tough to manage your business finances. There’s nothing worse than waiting for clients to pay their overdue invoices, and while you’re waiting, how do you ensure you’ve got enough cash to hand to pay your temp workers on time?
Recruitment factoring releases funds tied up in your unpaid invoices – usually up to 90% of their value – and pays this into your account within 24 hours. So you’ll have money to hand for advertising and to ensure your temps are paid on time.
Find the Right Factor with Invoice Factoring Brokers
Of course, it’s important to choose the right factoring company for your business, and that’s where invoice factoring brokers can help. You want to work with a factor with recruitment experience who can bring a wealth of industry knowledge to the table. They could even take care of your accounts receivable, chasing clients for overdue payments and reducing your overheads over the summer months.
It’s a great way to make life easier when your team want to take their summer holidays! Recruitment factoring is low risk, as you’ll never borrow more than the value of your unpaid invoices, and you’ll have plenty of cash left over to advertise for new clients and candidates to fill all those temp roles.
Are You Ready For Summer?
Summer is here, and there’s no better time to make sure your recruitment agency is ready! Simply Factoring Brokers can match you with the best funder for your needs, one with the relevant industry experience who can support you through the factoring process. Want to find out more about recruitment factoring? Then why not get in touch with us for free, no-obligation advice (and a chat about the weather) today?
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