Col Levander, founder and CEO of Rec Tech Solutions & Ratescalc.com discusses a piece of technology that can make a real difference for recruiters.
Rates and their correct calculation are paramount in any temp, contract or contingent recruitment and staffing business. As a new business, it is of utmost importance that you stop any issues by creating a seamless process that stops problems before they have a chance to develop – IT systems, software and the correct choice of these items are a large part of this. As is the understanding of what it takes to get things right in the payroll and invoice department. Here are a few areas to keep in mind when you are starting your contract staffing agency.
Hidden costs are scary! There is no other way of looking at it, they eat away at your business and profit without you noticing. Some key areas to focus on minimising errors are payroll, quotes and invoicing. Payroll errors will have a negative effect on your whole business.
Quoting your price, with the correct awards/agreement and interpretation is an art form. Do your team attempt this feat on their own or do they rely on the payroll team to get this sorted for the client? Often it is highly time consuming and riddled with human error, leading to errors in payroll.
Errors in payroll
Incorrect interpretation of awards and agreements from the start of the process can lead to payroll errors. Common errors often include overtime considerations, incorrect selections of industry, incorrect statutory costs etc. Be sure to keep an eye on these as the extra re-working and processing can be costly.
Morale, reputation, relationships
Morale, reputation and relationships are a few areas that are often affected by simple clerical errors that can easily be avoided. It is hard to find a good salesperson with an eye for detail after all, if you find them, they are a unicorn! Your payroll team and administrators are the engine room of your business, it pays to keep them on side! With this in mind here’s a solution to help you manage this from the start of the process: the Recruitment Sales checklist.
Help at hand
Ratescalc.com is a cloud based technology that can support your new or existing contract staffing agency by removing some of the manual human intervention that is open to mistakes. Ratescalc.com has been designed by experienced industry professionals who have experienced these problems themselves, run their own businesses and understand the challenges surrounding this complex landscape. It is easy to use and has been proven to reduce the human error factor and increase productivity.
Ratescalc.com is the shining light your business needs. It supports all industries – Ratescalc.com can enable any staffing agency that supply:
• PAYG employees in a casual or on a fixed term full-time basis;
• Contractors / ABN holders;
Ratescalc.com can also support:
• Group Training companies; Australian Apprenticeship Centres; Registered Training Organisations.
• With all modern awards managed within the platform and the ability to support any certified or employment agreement in the market, Ratescalc.com will be your newest best friend.