I was contacted yesterday by Lee McCoy of Agency Central in regards to their launch of SplitFeeJobs and their press release is below. Having had a quick look at the site and read the press release I do hope they do well, although I know many agencies will be a little nervous certainly those in the UK. Saying that my experience has been positive over the years with split fees, but it will depend on the consultancies that you work with.
Now if I was a new recruitment consultancy or recruitment consultant just starting out, I believe this site would be a great way to get going, it will also give an opportunity for the more established companies to fill some of their outstanding vacancies.
My only negative so far is the lack of info on the front page as you need to register first, but if this helps with the policing of the split fees then that is has to be a plus point.
Agency Central ("the UKâ€™s leading dedicated recruitment agency directory") is pleased to announce the launch of the first major split fee service for recruitment organisations worldwide.
Born out of the requirements of our clients, Agency Central has developed an online service where recruiters worldwide can post, free of charge, the vacancies they feel they are unlikely to be able to fill and candidates they are unable to place. This will then attract other agencies that believe they have suitable candidates. Therefore the recruitment fee can be split rather than lost altogether.
The SplitFeeJobs.com site has been developed in-house with the sole aim of making recruiting more profitable for all recruitment companies. Acting as a networking tool, the site allows individual recruiters to offer vacancies they donâ€™t feel they can fill and the opportunity for others to fill them for a fee. SplitFeeJobs.com acts as an introduction, communication and negotiation tool, whilst keeping your details safe, secure and hidden until you wish to conclude a split fee arrangement.
Kevin Drinkwater, Managing Director commented â€œAgency Central has been at the forefront of delivering job specs to recruitment agencies for the past seven years. However, far too many vacancies go unfilled, perhaps because the recruiter doesnâ€™t have the time or candidates to fill them. Splitfeejobs.com allows recruiters to partner with other recruitment organisations to fill these vacancies, thus meeting their clientsâ€™ expectations.!
New recruitment organisations who may not have the networking contacts of larger or more established agencies can also benefit by having immediate access to vacancies within their target industries. Kevin continued, â€œWe talk to many agencies, often with one or two staff who find it difficult to divide their time between filling vacancies and finding new clients.â€
Matt Trott, MD of The Spencer Group commented: "We turn away approximately 30 jobs per month as they do not match our core competencies. If we filled all of these roles at our average fee it would equate to Â£2.9M of additional revenue. It would be great to get some income from these wasted opportunities." Using SplitFeeJobs.com offers all recruitment agencies an opportunity to grow their bottom line by making the most of all their vacancies.
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