With starting up a recruitment agency comes an overwhelming amount of paperwork. What’s more, you need to be sure that you’re able to pay temps, when you need to, and still have time to develop your business.
Here at Oriel, recruitment is our business. For more than five years we have specialised in supporting recruitment businesses, during all stages of their business life cycle.
As recruitment sector specialists we have an in-depth understandingof the stress and strain of setting up your own agency. And our passion for delivering the highest quality client service means hundreds of agencies across the UK already trust us to provide them with an outsourced payroll and financing service.
There’s no doubting you need your cash flowing as quickly as possible. This is where we can help, from the outset. Plus, with a range of services specially designed to take the pain out of setting up your recruitment business, you can count on us to help you get off to a flying start.
For more information about how we can help start up and manage your recruitment agency please call our Recruitment Support team now on 0845 226 1843.
Meeting the individual needs of start up recruitment agencies
We’re on hand to offer you a wide range of tailored services to help take your business to greater heights:
- 100% funding – boosting your cash flow
- Temporary and permanent solutions
- Credit control and back offi ce services to ease the burden of paperwork
- Payroll by BACS for guaranteed weekly payments
- Credit insurance cover for more peace of mind
- Online system available 24/7 via any internet connection
Invaluable reassurance for your start up
Importantly, you can trade with reduced risk, with protection against bad debts and risk reduced by 90% (with options for 100% cover). We’ll ensure your liabilities to HMRC are always met – accurately and on time. You can also count on regular updates on legislation, keeping you informed of the issues that affect your business.
“Oriel’s commitment to client relations and follow through are unmatched within the industry. I would highly recommend Oriel’s services to any new starter or established business”. James Robertson, Education
Better understanding of recruitment start ups
Our clients tell us that, when choosing a partner, the thing they’re looking for more than anything else is genuine flexibility and understanding. Our independence from the bureaucracy and rigid approach of banks and major finance houses allows us to deliver this, backed by unrivalled levels of customer service.
The expertise of your account managers will mean that they not only empathise, but devise a solution. This level of service and focus is exactly what you need when you’re starting out, on top of access to millions of pounds of funding for contracts; making it easier to get the edge over your competition. It all adds up to more time and improved cash flow - and reduced risk.
Setting up really can be this straightforward, and our track record of partnering success and paying temps on time, every time, proves this. With Oriel you’ll have more time to source and interview candidates, look after existing clients and focus on winning new business.
Better cash flow means you can always pay your temps and suppliers on time, and encourages further growth.
FAQs
What advance can I expect against my invoicing?
As we understand the value of cash flow to any business, with respect to temporary invoicing we are able to advance 100% upfront with a signed timesheet and the appropriate credit insurance, on a recourse basis. This allows you to not only pay your candidates but give you margin without having to wait for invoices to be paid.
Who takes care of tax and NI for my candidates?
As the temporary candidates are employed by Oriel all tax and NI is the responsibility of Oriel to pay to the revenue and will be included in the weekly payroll cost. This means that the burden of filing time consuming tax and NI returns falls with Oriel and not yourself.
Is there a provision for VAT and holiday pay?
Yes. VAT bills can be a major burden when running any business and can often be responsible for many businesses not surviving their first five years. As a result we have developed a VAT retention which accrues the VAT liability generated from the facility and then when due this is released to you enabling you to pay your VAT return with ease.
Holiday pay, as a legal requirement also needs to be accounted for, whether it is paid on a weekly basis or accrued for separately we are able to cater this service to your requirements. Accruing holiday pay at 12.07%, ensures that the funds will always be available to pay your candidates and with our online reporting systems you can see exactly what is due to each candidate.
How will I be able to view my figures?
With our online system Orion you will have full transparency and control of invoicing, credit management and payroll services. With a plethora of online reports, many of which have live updating you are able to view up to date and historical ledger notes on each account, details of payments made to candidates, invoices raised and fees charged; all of which puts you in control and allows you to have as much or as little involvement as you need at any one time.
Who can I contact if I have a query?
You will have a dedicated back office team to include your own payroller and credit controller who will look after your account, together with a client relationship manager who will organise training, manage margin payments and co ordinate the account as a whole. Regular reviews with your credit controller allows you to be kept up to date with your ledgers and visits from your client relationship manager mean that your facility is closely monitored and someone is always available to answer any queries you may have.
Is there protection against bad debt?
Yes. With each client set up through our facility credit insurance is applied for, which means that if gained you are protected against potential bad debt.
When can my margin be accessed?
Not only do we pay the cost of the payroll on a weekly basis but we are also able to provide margin payments every Friday subject to availability, providing valuable weekly cash flow to any business.
