Recruitment Options for Agencies
Recruitment agencies can outsource their recruiting needs in order to keep up with the evolving business requirements. In doing so, they can keep their costs under control by reducing overheads, explore newer possibilities as well as focus on work-life balance. Some of the recruitment options that all recruitment agencies opt for include:
- Self employed consultant option.
- Retained Services option.
- Personal Service company option.
Self Employed Option
The services of an independent contractor/freelancer are engaged by Accutor to carry out the HR responsibilities. The working relationship between Accutor and a self-employed recruiter works as hereunder:
- The recruiter is hired by the most appropriate Accutor Management Company as required under the labor leasing regulations and to meet our internal legal/process requirements.
- Accutor will arrange for the necessary work permit/business visas and sponsorships and our legal team will manage contracts/ensures compliances.
- The recruiter’s time is leased by Accutor to client, after which he forwards all the approved timesheets and expenses to Accutor.
Whilst Accutor,
- Confirms timesheets and expenses and sends invoices.
- Calculates all taxes, pension contributions, focusing primarily on maximum legal retention/tax management.
- Processes paperwork for taxes and pension contribution after due deductions.
- Transfers maximized retention amount to the recruiter’s bank account.
Retained Services Option
Agencies / Corporations can engage the services of Accutor for all the Recruitment functions and establish partnership through their unique retained services option. Accutor will make placement of employees with clients, who will operate on exclusive basis for a fixed fee. The process between Accutor and its client is as follows:
- Accutor will sign an agreement with its client for the placement and recruitment consultancy service.
- Accutor will take care of all the processes and formalities pertaining to work permit, business visa as well as ensuring that the insurance and compliances are well heeded to.
- The in-house legal team deals with Contract Management and ensures that everything is legally compliant.
- Accutor sends invoice for its services, which may be a fixed fee on monthly or annual basis or a onetime fee.
- Process the paperwork relating to local taxes such as VAT, GST, entitlements, deductions and claims into account, whereby we also ensure maximum employee earnings and the client also saves on overheads, taxes and insurance.
- Full due amount will be transferred by Accutor to the account of the employee, giving full disclosure on the breakdown of the contributions on a monthly basis.
- Liaise with the appointed Financial Consultant who will make payment for pension, social security etc., to the relevant authority.
To complete the service, Accutor also will:
Personal Service Company Option
Accutor extends its Personal Service Company options to Recruiting Agencies and Corporations, for the supply of work force and manage the end to end recruitment services, by providing the following assistance:
- Manage end to end labour requirements, wherein the suitable candidate/employees are referred by Accutor as per the job specifications. The role can be the one of a “secondary”, contractual, temporary or permanent.
- Recruiting Agencies and Corporations and Accutor will sign Consultancy Service agreement, agreeing to provide recruitment service and personnel to the client.
- Accutor will arrange for the necessary work permit/business visa and sponsorship; while our legal team will ensure other compliances and Contract Management.
- Accutor will send invoices to the client for the completed work and send all the paperwork and calculations pertaining to taxes such as GST, VAT etc., and ensures that the tax guidelines are complied with, and tax management is arranged at it its fullest.
- Full due amount will be transferred by Accutor to the account of the employee, giving full disclosure on the breakdown of the contributions on a monthly basis.