New recruitment agency checklist - What you need to do

Congratulations - you've set up your recruitment agency!!

Posted: 10th April 2018

Commiserations – because you didn’t expect the payroll side of things to be so bad.

So you’ve done it.  Set up on your own. Your recruitment agency is going to take the industry by storm.

You’ve got this (if you’re using PayFactory) – you’ve got great contractors, you’ve secured great clients, you’ve got the systems in place, and a full head of hair intact – result!

Oh, hang on a minute...  it’s soon coming to light (if you’ve not got PayFactory) that all those systems are antiquated, complicated, timely and unreliable.  

The paperwork, the admin... how can you possibly manage to juggle time sheets, differing hourly rates, varying hours, inconsistent payment schedules; not to mention payslips, pension contributions, annual leave, sickness and P45s?

How’s that hair doing by the way – pulling it out? Any left? (plenty if you have PayFactory).

Let’s go on... You’ve got overheads mounting up - bills to pay, contractor’s salaries to fund – your working capital is diminishing faster than you can invoice and your cashflow is in dire straits. It’s soon becoming an unmanageable beast – you just want to recruit and grow your business.

Well, forget about making an appointment with the nearest wigmaker (officially called a perruquiste) and instead make an appointment with us, here at Calverton Finance, to discuss our unique and seamless payroll management facility, PayFactory.

PayFactory is the dedicated recruitment agency facility that manages your entire Back Office, leaving you to concentrate on your business.

PayFactory is a complete Back Office service to recruitment agencies. Through our dedicated team of qualified Payroll Advisors, you’ll benefit, not only from a full head of hair, but also...

  • Invoicing

     -Issues your clients with their invoices from your contractors’ timesheets and data.

  • Finance

     -Advances payment all your issued invoices to manage your cashflow and working capital.

  • Payroll

   -Calculates each contractor’s gross pay, as well as deductions such as pension contributions, tax, annual leave and  sickness.

     -Pays your contractors via BACS.

     -Posts each contractor their payslip.

  • Collections

     -Acts as if PayFactory were your own in-house credit control team

     -Chases all outstanding monies owed, including issuing statements, reminder notices etc.

  • Reporting

     -Regular reporting and updates

Suitable for permanent, temporary PAYE or self-employed contractors, PayFactory is fully compliant with the very latest regulations. It also offers assistance with your tax obligations, as well as advising you on the very latest legislation updates – for example, the newly implemented automatic enrolment pension contributions and forthcoming automatic enrolment increases due in 2019.

We’re helping recruitment agencies, just like yours, enabling them to grow and expand. Yet don’t just take our word for it...

“I want to highlight to you what a difference your approach has made to my confidence in outsourcing an integral part of my business to a third party.” - Dan Tyler, Republic Search.

“We’ve never looked back! The support and guidance we have received means we can concentrate on growing the business, knowing we have Calverton behind us.” -  Paul Sherman, Liquid Recruitment Solutions Ltd.

So get in touch today – see how PayFactory is behind successful recruitment agencies!