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Surviving the Summer lull

With the country experiencing record temperatures, a leading industry expert is warning recruiters to keep a cool head when it hits its annual summer slowdown.

Traditionally a quiet time of the year due to holidays, Paul Saunders, director of the Recruitment Finance Division of Lloyds TSB Commercial Finance, is advising recruiters to invest time into making sure that sales actually turn into cash.

He says: “It makes sense that the first thing recruiters will often think about is sales and achieving a certain level of turnover. But it is equally, if not more, important that they ensure that enough time and money is devoted to actually turning those sales into cash. In the current economic climate, it is essential that recruiters account for every penny of their invoices. Otherwise they may see a black hole in their finances.”
 
To help with this process, Saunders believes that recruiters need a top quality credit control function to make sure that debtors pay on time. In addition, he also suggests that credit insurance should be considered to minimise the loss if a debt turns out to be non-collectable.

23 June 2009

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