State of recruitment market
Introduction: Most sectors saw a quieter 2023 compared to the heady recruiting sprees post pandemic. Economic uncertainty hung in the air, the cost of borrowing increased significantly and labour shortages continued. So, what will shape 2024 for the recruitment industry? Various factors such as technological advancements, economic shifts, and the aftermath of global events from […]
Fraud warning – Ghost workers
The Invoice Finance Sector has seen a significant increase in cases of ghost workers. This typically involves a fraudulent company approaching a legitimate recruitment company and requesting they put workers through the payroll that aren’t legitimate. What are ghost workers and how can they have an impact? It’s the Director’s and owner’s responsibility to ensure […]
5 Things to consider when placing contractors internationally:
1: Obtaining specialist advice on the country that you are wishing to place the worker: Every country has its own laws on residency and tax, so it’s recommended that you seek the advice of a specialist in the relevant country. There are many Umbrella companies that offer such specialist advice and tailored payroll services for […]
The Hidden Costs of Recruitment Funding
Throughout our 9 years of operating in the recruitment funding world, we’ve had thousands of conversations with recruitment agencies and some of those have been partnered with competitors of ours. One thing that frequently comes up in conversation is hidden fees, or extra costs. Here’s a selection to be aware of: – Subscription / Platform […]
Modern Slavery – Why you should care and what you should know.
In today’s interconnected world, the pervasive issues of slavery and human trafficking persist as a dark stain on global society. It is imperative for us all to remain vigilant within our businesses and supply chains. These crimes take various forms—ranging from forced labour and domestic servitude to sexual and criminal exploitation. Shockingly, the International Labour […]
Get ready for launch in 2024!
Starting a temporary recruitment agency in the UK in 2024 presents unique challenges, considering the dynamic nature of the job market and the specific trends within the temporary staffing sector. However, that shouldn’t put you off. Being Captain of your own ship can be a rewarding and exhilarating experience. At QUBA Solutions, on average, we […]
What to do at renewal stage?
When approaching the end of your recruitment funding agreement, you may be unsure of what to do. It’s the perfect time to take a step back and assess how your funding partner has performed for you throughout the partnership. You may feel the solution you have in place is acceptable and renewing is the simplest […]
2023 takeaways
For many, 2023 has been a challenging year in recruitment. There has been a downturn in placements, costs have increased, and insolvencies have been on the rise. But it’s not all doom and gloom, there’s been some positives to 2023 with newly formed businesses flourishing despite the economic knock backs as well as established agencies […]
The end result of holding temps’ payroll; Conduct Reg Breach
We hear stories (fairly regularly unfortunately) about recruitment invoice financiers refusing to pay their agencies’ contractors / temps. This is obviously an awful situation to be in and very stressful for the agency with temporary workers relying on them to be paid. There is no legitimate reason why this should happen but, when it does, […]
The benefits of recruitment funding – fast and flexible
Recruitment finance is a type of funding specifically for recruitment agencies which helps to be able to pay temporary or contract workers, while providing support with the back-office administration around this. It is different to traditional invoice finance / factoring and has some specific benefits which are as follows; Advance rate – in most cases […]
The importance of bad debt protection
What is bad debt protection? Bad debt protection is insurance against your end clients that covers your business if the client were to become insolvent. Why do I need it? It is crucial for you as an owner of a recruitment agency to have credit insurance in place with your end clients. If you don’t […]
Scary truths about traditional funding
Throughout our 8 years of offering recruitment businesses invoice factoring solutions, QUBA Solutions has come across traditional funding or widely known as invoice discounting methods. We’ve seen it happen again and again, agencies failing because the foundations they’ve built themselves on are unsuitable.Cheap? Yes. Flexible and reliable enough for growing recruitment agencies? No. 1) The […]
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