Blog

You Are Here:

Would you settle for less?

Posted on | Posted in Duty of Care

As an independent supplier of Temporary Workers, Wote St Employment Bureau finds cash flow pivotal to our company’s well-being.

It’s one of the reasons that our terms for supplying temps are just 14 days. We have a legal obligation to pay our temps on time and why shouldn’t we; they are a valuable resource and should be rewarded appropriately. Over the last couple of years, we have noticed a gradual “stretching” of the terms by more and more customers; it’s hard out there.  So, we came up with the brain wave of asking our regular customer base (89 companies), if they would be interested in receiving a settlement discount for paying early.

To be honest, giving money back always brings me out in a cold sweat, so this took some gumption on my part.  I was amazed at the response – although I shouldn’t have been.  Only 1 customer said they would seriously consider it.  Everyone else preferred the time to pay.

The positives to be drawn from this include the fact that our pricing is affordable and that more importantly it really is good to talk to your customers.  We could have introduced this measure thinking we were offering a better service, when in fact it added no benefit to our Clients whatsoever.

The other conclusion is that people respect good service; they just need an appropriate amount of time to pay for it. So, Wote St Employment Bureau won’t be introducing settlement discount, but we do need to keep our debtor days to a minimum. 

It’s back to the drawing board and the credit control calls – if anyone has any answers, send them on a postcard to…….. Seriously speaking – it’s good to talk, tell us what works for you.

0

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts
05 Apr 2019

Tips for recruiting under 25-year olds

There are countless reasons why recruiting a person under the age of 25 could be beneficial to the success and growth of your business. As a job agency in Basingstoke, we’ve recently been reminded of the benefits of this yet again. Spring is a time for new beginnings and you’ll not only be opening a[…..]

Latest Posts
21 Mar 2019

Learning on the job: the benefits of apprenticeships to employer and employee

As a recruitment agency that’s also heavily involved in the community, we can’t stop talking about the many benefits of apprenticeships. These positions give young people and career-changers the opportunity to study for a work-based qualification that is often the first stepping stone in a bright career. Our apprentice, Kyra Wallace, recently completed her time[…..]

Latest Posts
08 Feb 2019

Candidates keep falling through? Don’t make your plan B a second thought

  In recruitment, as in life, things rarely work out as expected. The news reminds us daily that it’s actually wise to expect the unexpected. For example, you’ve got to wonder if there’s a teeny weeny bit of Theresa May’s brain that wishes she had pre-prepared a plan B for how Brexit is unfolding… We[…..]

Latest Posts
03 Jan 2019

Honesty is the best policy

Recruitment has always been an exciting industry.  There’s nothing quite like the buzz of helping someone make their next career move.  Knowing that you have been a part of helping people achieve the challenge, the promotion, the pay increase, or the work/life balance they need, is immensely satisfying. The current climate is definitely in the[…..]

Latest Posts
19 Dec 2018

87% of employees worldwide are not engaged at work – are you one of them?

We were as shocked as you when we read this headline. But, yes, a recent Gallup survey highlighted a worrying statistic from the worldwide workplace; 87% of employees worldwide are not engaged at work. It would appear that from full-time workers in Frankfurt, to shift-workers in Shanghai, to those in part time work in Basingstoke,[…..]