Attention Recruiters: This is essential to boost agency revenues. Cash Out by SplitFee.orgSpecialist recruitment finance and back office solution provider Simplicity has developed a great new feature ‘CashOut’ for the IOR’s exciting new ‘eBay for recruiters’.
‘CashOut’ has been designed to enable recruiters to access the agreed sums of money in split fee transactions, removing the risk of non-payment and time-consuming relationship building. The feature will sit upon the IOR’s latest venture – www.splitfee.org – a new ‘eBay for recruiters’ which aims to become the one-stop destination for recruiters from all over the world to work on split fee assignments.
Although launched in the UK, the Split Fee network has been built to accept fees in any currency, allowing recruiters to collaborate internationally.
David Thornhill, Managing Director at Simplicity and the person behind the CashOut facility says, “With skills shortages becoming more and more of an issue in the UK, creating partnerships further afield may help to solve some of the problems recruiters are facing. I believe that the Split Fee concept will become increasingly popular in coming years, with a rising number of recruiters collaborating both nationally and internationally to fill vacancies and unlock their fees.”
However, traditionally there have been barriers from stopping the Split Fee concept from working effectively. In the past, recruiters have encountered problems when trying to chase in payment from the partner recruiters. CashOut eliminates this risk – the recruiter is paid as soon as the candidate starts work, debt collection is covered and if the worst happens, CashOut will cover any necessary legal costs. The onus is off you to ensure that the deal is completed.
Azmat Mohammed, Director General at the IOR says, “We expect the Split Fee platform to create a new wave of international recruiter partnerships, generating new channels of income that would not have be easy for recruiters to tap into in conventional ways.”
Really, CashOut makes the split fee process easy – search a vacancy, agree a fee, your candidate gets the job, choose the CashOut option and you receive your money. A three step process with no additional or hidden costs, no VAT returns or extra admin to worry about and no risk to you – you’re fully protected.
For more information on the Split Fee Recruitment Marketplace and the CashOut service please visit www.splitfee.org
