Covid-19 pandemic and the subsequent lockdowns have had a major impact on the recruitment sector in the UK.
Agencies supplying staff to many industries like retail, hospitality and leisure have seen a significant slump in demand, as their clients in these industries have halted their operations. Many businesses have suspended new hiring while others have had to furlough or even lay off their staff.
According to research by REC, “Demand for both permanent and temporary workers in England during March fell for the first time since the global financial crisis in 2009.”
On the other hand, the demand has remained stable or shot up in the ‘key’ industry sectors healthcare, food production and logistics. While this is good news, the challenge is finding and recruiting candidates for the open positions – especially for recruitment teams that are working remotely. This issueis compounded for many agencies that have not been able to enable remote working for all of their staff, or the ones whose staff is on leave owing to Covid-19.
Pay & bill – a crucial function in this situation
Workers braving the Covid-19 situation and offering essential or key services are likely to be under great stress – agencies do not want to miss payments, or pay late or make incorrect payments in a situation like this.
At the same time, when your clients are operating while possibly facing the toughest working environment, you want to extend them the best possible support, but also make sure that they pay you on time. After all, the payments you receive from the clients are crucial to your continued operations.
These factors make pay & bill a critical function for agencies in the UK. However, if your business is facing higher than usual demands or working with less staff than usual, or facing reduced productivity owing to less-than-perfect work from home arrangements, a number of pay & bill issues can crop up. These can, in turn, lead to:
- Unhappy and dissatisfied workers, if you fail to make the payments accurately and on time
- Increased time and effort required to address queries arising out of inaccurate payroll
- Delayed receipt of payments from your clients if the invoicing is late or inaccurate
Pay & bill support you can absolutely rely on
With 15+ years of pay & bill experience and over 250 payroll and accounting experts specialising in the recruitment sector, QX is renowned for the world-class pay & bill services we offer to recruitment agencies in the UK. We serve 5 of the top 10 healthcare recruitment agencies in the UK, and process timesheets are an average accuracy rate of 99.8% for our clients, delivering within deadlines and meeting predefined SLAs.
Are you facing any issues with your pay & bill function? Do you have long-term or short-term requirements in this area and need experts who can help you take care of all or some of the aspects of pay & bill? We can help with reliable pay & bill outsouricng services, including:
- Setting up of New Starters and Contracts/Placements
- Timesheet processing (Timesheets, Expenses, Bonus, etc.)
- Holiday pay management
- Pensions management
- Processing Statutory payments (SMP, SSP, Court orders etc.)
- Adjustment Processing
- RTI Submission
- Payroll Helpdesk / Dealing with Payroll Queries
- Gross Margin Report
- Intermediaries Reporting
- Running BACS Report
- Generation of Payslips
- Client Invoicing
Get in touch with us
QX can provide you with the pay & bill services you need to survive and thrive in these unprecedented times, while also reducing the cost of your pay & bill operations by up to 50%.