Connecting your business starts in the back-office
John Hetherington, UK Sales Manager, Practical Software on how integrated back-office solutions set the foundations for a successful business.
From finance and payroll through to onboarding and timesheets, having an integrated back-office solution is key to a successful recruitment business, especially in a world that’s increasingly relying on remote working. Making sure that your staff, and your business, are connected is more important than ever.
Making sure that you have the right systems and process in place doesn’t just help you deliver the best possible service for your candidates and clients and help you grow your business. It can save you money across the board through improved functions, reduction of errors and streamlined working practices.
The question for a lot of agency owners though, is “what setup is best for my business”
Manage your back office inhouse – The greatest control can sometimes come with the greatest risk. But, having the right staff and software in place can mean that you are always on top of your back-office. You’ll know what’s going on and be able to make changes quickly and efficiently to the best benefit of your business.
Outsourced support – If you’re looking to streamline your recruitment numbers or you’re in an initial growth phase then outsourced support can help you manage your business while still having control over core functions. This might be having outsourced finance or third-party testing to help you fit the right candidates for the right roles.
Outsourced solutions – You may prefer a 100% outsourced back office that covers your finance, documents, onboarding and timesheets. You’ll have the peace of mind knowing that you have a specialist company managing things for you, but it will inevitably come with the highest costs and longer contracts.
Let’s have a look at the different factors that will help you make the decision that’s right for you:
Timesheets and payroll
These are critical functions of any recruitment business. How integrated are they to your back-office solution? How much time is spent making sure that they are correct and what impact does this have on your staff and your business? Would integrating this with your CRM better streamline your business?
The right people for the right jobs
Different options can make mean different staffing requirements, have you thought about specialist finance teams inhouse or does the setup you’re considering mean that you can have fully trained staff across the business who can support each other. What’s the requirements for HR and staff training to make sure that your staffing is as efficient as possible?
Time is money
It’s clichéd but it’s true. Every option is going to take time, but it’s just a case of factoring in how this balances up against the perceived benefits. What could you be doing with your time instead, how integrated is your back-office, are you wasting time on outdated manual processes when a bespoke system could be saving you time (and money)
Compliancy is key
IR35, RTW and HMRC reporting are critical? Are you ensuring you are compliant? Are you investing in courses, training or software for your business? Whichever option you consider, make sure that you think about the implications of errors and what impact that might have on your future business.
Getting it right
Finding the right system isn’t always easy, but speaking to experts who can help you do your research and find the right fit for you. Keep an eye out for any hidden costs, these might be actual tangible costs or the effect of lost time on your business. Whatever solution you look at, you can always make changes but considering all the factors at the start can help you make a long lasting and informed decision.