New 'CashOut' Solution Removes Barriers from Split Fee Marketplace

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Specialist recruitment finance and back office solution provider Simplicity has developed a great new feature ‘CashOut’ for the IOR’s exciting new ‘eBay for recruiters’.

‘CashOut’ has been designed to enable recruiters to access the agreed sums of money in split fee transactions, removing the risk of non-payment and time-consuming relationship building. The feature will sit upon the IOR’s latest venture – http://www.splitfee.org/– a new ‘eBay for recruiters’ which aims to become the one-stop destination for recruiters to work on split fee assignments.

David Thornhill, Managing Director at Simplicity and the person behind the CashOut facility says, “At Simplicity, we talk to hundreds of recruitment agency owners every day. We understand that the industry is fast paced and often, ruthless – as a result, recruiters don’t have a minute to spare so we wanted to make the split fee process as streamlined as possible.

“With skills shortages becoming more and more of an issue in the UK, I believe that the Split Fee concept will become increasingly popular in coming years, with a rising number of recruiters collaborating to fill vacancies and unlock their fees. However, traditionally there have been barriers from stopping the Split Fee concept from working effectively.”

In the past, recruiters have encountered problems when trying to chase in payment from the partner recruiters. CashOut eliminates this risk – the recruiter is paid as soon as the candidate starts work, debt collection is covered and if the worst happens, CashOut will cover any necessary legal costs. The onus is off you to ensure that the deal is completed.

Really, CashOut makes it easy – search a vacancy, agree a fee, your candidate gets the job, you choose the CashOut option on the Split Fee website and you receive your money. A three step process with no additional or hidden costs, no VAT returns or extra admin to worry about and no risk to you – you’re fully protected.

For more information on the Split Fee Recruitment Marketplace and the CashOut service please visit www.splitfee.org

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