After the rush comes the calm reflection - So, how did your year-end go?

After the rush comes the calm reflection website

If you’re like most recruitment business leaders, the last few weeks of March and the days leading up to 5th April were beset by frantic reporting and a total commitment to hit that unmissable deadline. And like most agency owners, the words most often muttered after everything has been processed, are “We won’t be doing it like that again!”

But unless you take steps to change your existing administrative procedures, you may well find yourself repeating these same words again next year. Time to take stock.

Indeed, the start of the new financial year is not too dissimilar to the beginning of the New Year. It is an opportunity to reflect on the last 12 months and consider what may lie ahead. It is also a chance to review what works well and whether existing systems and processes are helping or hindering agency growth.

Time is, as you will be all too aware, a precious commodity. Yet when you add up the total number of hours spent during the days and weeks leading up to the end of the financial year, how many of those could have been better spent on billable activity? How many potential clients could be contacted or candidate interviews conducted?

In other words, how much potential business could you have been missing out on?

HR Magazine last year reported that around one-third of a business leaders’ time is spent performing various administrative and back office duties. Taken over the course of a normal 35-hour working week, that’s the equivalent of almost 12 working hours lost – almost two full days.

Yet simply delegating the responsibility for back office tasks can enable recruitment business leaders to claw back that lost time. In doing so, they can channel their time and energies into driving the business forward.

For instance, as part of our recruitment finance and back office solutions, we help our agency Partners to: 

  • Submit their final payroll report of the year
  • Update employee payroll records
  • Send all their employees’ P60s
  • Set up PAYE references for the Employer with a £3000 allowance for the new tax year (if applicable)

Of course, you can continue to do all these things yourself – if you have the time to do so.

Year-end processes are essential but they can be delegated.

Talk to a member of Simplicity today to find out how our back office and finance solutions can ease the year-end process for you, so that you can focus on business development and achieving your growth aspirations.

 

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