Soundbites

29-April 2009

Sue Marguet
Managing director, Celectus Recruitment
“During this tough economic time, we find it useful to continually evaluate and monitor the companies we support and their financial performance, position and future prospects, continually assessing whether the company is financially viable. We use an online credit report company, using Companies House data to produce a credit scoring to allow us to obtain a credit reference on any company instantly. The credit score and credit rating is a good indicator as to the long-term financial viability of the company to minimise the
risk of problems arising from non-payment and reduce the need to use a debt collection agency.”




Anne-Marie Hamill|
Director, Escape Recruitment Services
“We have always invested in our back office and sales teams, supporting them to continue with their professional and personal development. I believe this is the key to the right decisions being made about working with financially viable customers. In effect, you need to trust your staff to make these decisions, knowing that you have helped them to develop their decision-making skills when negotiating with customers. We also use recognised credit insurers for all debts, have great processes to ensure credit checks are done before any financial undertaking and are prepared to walk away from business that is risky.”

Jessica Marshall
Managing director, Absolute Recruitment UK
“Recruiters are never more at risk than during recession periods. And because temporary staff recruiters outlay wages before receiving payment, if a client goes to the wall with invoices still outstanding, it can be crippling for the recruiter. Credit insurance, either independently or through an invoice finance provider, immunises recruiters against bad debts and can be the difference between success or potential insolvency. Not all business is good business, and insurance providers give an insight into who is good for their money. From bitter experience, it is not worth going against the insurer’s advice no matter how promising a potential contract may look.”




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