The 1920s version of layby has been revamped and replaced with a 2020 version - the hyper-popular 'buy now, pay later' payment plan. The arrangement of digital payments gives purchasing power to the customer allowing them to get their purchase upfront, and it is increasing sales for businesses. HirePay, an Australian based service breaking infancy, spearheaded methods to help companies avoid improper hires and the cash flow pressure of recruitment charges.
HirePay is building a leading global company with a professional and ambitious workforce. Diverse companies like W Talent, Talent Vine, Disney x Short Story, and MTC Labour Hire have had immense success with cash flow management by using HirePay.
"We were recently introduced to HirePay and offered their installment payment option to a small number of clients as a test," Adam Weraska, Managing Director at W Talent, said. "It proved to be quick, simple, and popular with our clients, so we quickly rolled it out and offer HirePay on all our invoices to all our clients. They also eliminated the problem of collections from a difficult client for us. I've recommended other agencies to HirePay and don't see why anyone wouldn't offer it to clients - lots of benefits and no downside."
For companies in need of payment extension, HirePay eliminates the discomfort. As a result, recruiters are paid in full within 24 hours, and only a small fee (0.9%-2%) is charged to each installment. The payment schedule is generally once a month for four months but can be adjusted on a case-by-case because HirePay works to satisfy every customer's specific needs. Founder and CEO David Price explained that HirePay's services alleviate cash flow difficulties, especially during the current economic downturn. HirePay's clients' cognizance of hiring a suitable fit the first time around has proven to be critical for growth and is a top priority.
HirePay can be used with any recruitment agency, ensuring you can place the candidate you need in a more affordable way. On the off chance that a placed candidate is not a good fit HirePay does work with agencies to deliver on their replacement guarantee or credit. As HirePay pays the recruiter upfront, the risk of losing the replacement guarantee due to late payments is averted.
"We are creating a better way to pay and helping recruitment companies grow," Price said. "Any company that uses us is able to choose any recruiter they want, but usually, we are introduced to the employer via our partner recruiters who offer HirePay to their clients."
HirePay helps companies get professional assistance with hiring which is proven to deliver better results and thus making their services more favorable than job boards or in-house efforts. Saving time and money is a no-brainer and is attributed to the expansion of HirePay.