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Is Time Really Money?

Is Time Really Money?
27 days ago by Jackie Parrella
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The age-old question of how much temp recruitment agencies are charging their clients is once again prominent and especially now when businesses are mindful of every dollar being spent. The notion of cost is forever a stumbling block I am often faced with when speaking to potential clients and it’s always a discussion I am happy to have over and over again, and you may ask why?

For the reason that I see the value and true worth in our service and what I do.

At the very least my job is to match the right candidate with the right role at the right time. Get this matchmaking correct and my client gains an invaluable asset that will be able to contribute to their business’ goals. Get it wrong and the consequences for me are lost energy, resources, and time so safe to say I have a bit on the line.

Now let us divulge and dig a little deeper, to a business owner the number one cost when hiring a new staff member would be employee benefits and taxes (depending on which state you are in). Staff benefits are the cherry on top of any role and can come in all different sorts like annual bonuses, gym memberships, parking allowances and supplied meal breaks (if you are lucky!). It’s important to keep in mind that these are in addition to their paid annual leave (4 weeks) and paid sick days (10 days).

A recent study by Xero Accounting Software found that 22% of Australian employees are owed five or more weeks of paid leave, what is surprising is that accrual of such amount of annual leave has the potential to put your business’ cashflow at risk and set your working capital back by a considerable amount if you were to have people leave suddenly.

The common catch phrase time is money does resinate strongly here,  employers often turn to us because they A) don’t have the internal resources to employee someone casually or B)  they quite simply do not have the time to do it on top of their other responsibilities.

Without giving away our secrets and divulging our bottom line I can highlight that approximately 65-70% of our rate will go straight to our candidates and that is excluding their superannuation. Our candidates are paid weekly and above award wage, keeping them motivated and appreciated. Factor in other costs we do such as payroll taxes, payroll processing, workers comp/ insurances and admin time.

Those above factors also apply to you as an employer however they are much larger costs to you as an individual business rather than a temp agency who solely specialise in that area. Not only do temp agencies help keep your headcounts down and more manageable they end up saving you time and money! We absorb these costs purely because it’s the nature of our business, it's what we specialise in and do day in day out.
We as recruiters assume this function and have the capacity to take the responsibility away from you so you can spend time on the more important things. 

Our temps & service stand the test of time, so book yours in today!