How can something as simple as treating high-value contractors like VIP business assets give your recruitment agency a massive competitive advantage? We'll show you how.
Australia’s business landscape supports an ongoing demand for high-value contractors. The reality is that a handful of skilled contractors can generate over a million dollars in payroll, making contractor management very profitable and competitive. And since contractors are the heart of the transaction, building strong relationships with your top earners unlocks the potential for repeat placements, powerful referrals, and becoming the recruiter of choice in your niche.
Create a Competitive Edge
When it comes to high-value contractors, recruiters are under pressure to put quality talent in front of their clients quickly. Once your contractor is placed, the pressure notches up to contract and onboard them as smoothly as possible. Having a pool of quality talent is the first big advantage. The second is having the systems and processes in place to move your VIP assets through the necessary processes with as little pressure on your business as possible.
The simplest way to build a talent pool is to make sure your service does not stop the day the contract starts. The easiest way to achieve this, without hiring a fleet of administrators to run your back-office, is to put the right tech in place with the right support for your team (and your contractors).
Tech that Cares for Contractors
Does this scenario sound familiar: you place a high-value contractor at a client site. Everyone is happy and the project is going well… so, you get to work on new client briefs. Six weeks later, your contractor calls, frustrated and angry about a glitch with their timesheets. Your heart sinks.
Not only is the relationship with your contractor in jeopardy, your cash flow is going to hurt until you get those timesheets approved and invoiced. You scramble to solve the problem and probably head down a black hole of non-billable time for you and your team.
The whole purpose of technology is to amplify your resources by simplifying and, where possible, automating the processes that are repeated in your business. Good tech also enables the smooth passage of information through your business, from timesheet to invoice to payroll to ATO.
PlatinumWFM was created by recruiters for recruiters, so we always keep these issues in mind when assessing tech to help our clients manage their contractors:
Risk management: There are unique risks to managing contractors. Your outsource solution should have good governance and reporting practices built in to help you manage these risks.
A system specialist: If your team does not have the technical capacity to support your contractors across different systems, look for an outsource solution with all-Aussie support that your contractors can count on - because if they can’t, their issues will simply circle back to you to solve.
Flexibility: If the number of contractors you manage shrinks and expands throughout the year, you may not want to employ a dedicated person to manage their needs. There are outsource options with built-in contractor care, but make sure you entrust your VIP business assets to a white label service - don't handover your assets to a third party!
Supercharge Your Growth
Imagine how steadily your revenue will grow if your team is focused on making placements, and your back-office tech keeps your admin running smoothly? We know it can feel daunting to set yourself up for success, but it helps to think about it as short term pain for long term gains.
Once upon a time, we had a CD player, a television, a DVD player, a camera, and a telephone. Today, we have a single smart device that does it all, and the same is true for managing contractors. Your setup does not need to be heavy on human resources or overheads - there is a configuration of outsource software and support for just about every recruiter out there.
We believe in multiplying the positive impacts of individual software components by integrating them into a single solution. Whatever back-office solution you choose, make sure it can scale up or down on demand and includes quality technical support so you always get the best value for money. Treat your top contractors like the golden geese that they are, and supercharge your agency's growth.