How to set up and launch a recruitment agency

Here, we look at how to approach your start-up recruitment company, from payroll management to securing the right partners.

For recruitment agencies at all levels, it is imperative to have a sophisticated and capable digital interface in place to help you run the business efficiently. The simplicity of a centralised platform when setting up a new recruitment business can help streamline operations for you, your clients and your workers alike. Teaming up with the right partner with the experience of providing the framework to be successful in the recruitment sector will enable your business to have the strongest possible start.

Key features and functionalities to consider for any recruitment company start-up:

  • Online timesheets
  • Digital signatures
  • Dedicated online portals
  • Digital contracts
  • Proactive AWR timing/admin system (12 weeks, equal pay etc).

Cost of setting up a recruitment agency

How much money you need to set up a recruitment agency will vary in accordance with multiple factors. However, unavoidable start-up costs include website design and development, branding, advertising, hiring help and many other initial overheads that must be factored into the equation. Regardless of how much it costs, there is help out there to give your new brand the best possible chance of success.
Look for the signs of a good partner to work with – do they offer 100 per cent funding and a fully integrated back office facility?

Payroll funding for new recruitment agencies

Don’t let payroll obligations slow you down or stand in your way. You need dynamic payroll for recruiters and temp agencies, helping bridge the gaps between your income and your most important outgoings.

Finance requirements and considerations for a new recruitment business:

  • 100 per cent of agency profits paid immediately
  • Funding for the whole employer/candidate transaction including invoicing and paying wages weekly
  • Processing of all credit checks and handling credit control, no minimum turnover needed
  • All back-office functions, leaving you free to focus on winning new business.

Recruitment payroll business solutions are all about the minimisation of involvement on your part, while at the same time eliminating the prospect of financial shortfalls. If self-funding your new recruitment agency simply isn’t an option, fear not, as there are specialist agencies that can help with funding and financial help for your recruitment firm.

Payroll management for temp agencies

Outsourcing payroll processing comes highly recommended for new business start-ups in particular, where heavy administrative burdens can severely hinder your progress.
A good payroll management service will include but not be limited to:

  • Processing timesheets
  • Providing fast and punctual payments for workers
  • Handling worker enquiries
  • Producing and posting payslips
  • Issuing P45s for leavers
  • Handing HMRC/DWP enquiries.

Managing and balancing payroll obligations as a recruitment startup can be difficult without professional assistance. By working with recruitment payroll specialists in the business, you immediately and significantly improve the likelihood of success for your new business.

Starting your own recruitment agency with expert help

Whether you are already working in the field or interested in setting up a recruitment agency with no experience whatsoever, there is help available to make it happen.
Opening a recruitment agency has the potential to be fulfilling and financially rewarding in equal measures. However, the importance of getting things off to the strongest possible start cannot be overstated.

This article was supplied by New Millennia.

Related Topics

Recruitment

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