Luke Lynam, Recruitment CRM and Social Media Trainer at Barclay Jones, is a keen business analyst and thrives on speedy processes and practical systems. He’s passionate about best practice use of recruitment technology. Luke gets recruiters using recruitment tech effectively. He is an expert in the temporary recruitment sector and has a superb knowledge of current recruitment compliance. In this guest blog post Luke explains how easy it is to calculate candidate rates and protect your margins in AdaptUX…
Maybe maths just simply isn’t your thing, or you find yourself getting frustrated in Excel…
This margin calculator is great because it saves you time and money.
I recently worked out a medium-sized temp/contract agency could lose almost £30,000 a year if rates were off by £1 per booking!
These small mistakes are more common than they seem, and add up fast.
I’ve spent a lot of time helping colleagues fix these problems!
Working as a recruitment consultant I often found temp and contract recruiters wasted lots of time calculating rates and margins themselves or using spreadsheets before they could confirm a deal or booking.
Many recruiters forgot the employers National Insurance contributions, agreed a pay or charge rate based on an incorrect calculation and then ended up making a low margin (below target KPIs) that they were stuck with… sound familiar?!
With the margin calculator, AdaptUX generates your required pay or charge rates accurately without leaving your CRM. It is particularly useful if you are a recruiter who operates in a fast place environment with a high volume of roles to fill.
It protects your margins by ensuring you factor in ‘on-costs’ such as employers national insurance or holiday pay before you agree rates.
It can be really useful to direct consultants to suitable candidates when filling vacancies with agreed charge rates. By calculating what pay rate you are able to pay you can then search on candidates prepared to work at that rate.
Enough talk, get watching!
I’m about to show you how easy this can be – watch my tutorial and don’t forget to click the Like button if you find it useful!
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