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The Complete Guide to Revenue Protection for Recruitment Agencies Missed placement fees cost UK recruitment agencies millions annually. If you're an agency owner, Finance Director, or Operations Manager, you know the pain of discovering a candidate you introduced six months ago is now working at your client without a fee being paid. At bobcheck, we've helped recruitment agencies recover over £3.5 million in missed fees since 2022. This Revenue Protection Guide distils everything we've learned into practical, actionable strategies you can implement immediately. 

What next steps should you take when you discover a back-door hire? Imagine the scenario. Your agency has 50 dedicated and hard-working recruiters sending five CVs a week. Over the course of a year, this adds up to around 13,000 CVs. That’s a lot. Now imagine that five people in your business leave. Several months later, you discover that a candidate they sent to an open position has started working there. Well done candidate! But it’s not celebration time for you. Because nobody followed up with that candidate and, as a result, your agency missed the fee. Now, if you’re using manual methods to try and keep a handle on the thousands of CVs your recruiters send each year – let’s say tracking each CV or candidate in a spreadsheet – the chances are you might never even realise that you missed that fee. Alternatively, you might be aware of it, but not have the time or resource to follow up. Finding missed fees with bobcheck If you’re using bobcheck, this story goes a little differently. Yes, your agency missed the fee, but the bobcheck system quickly alerted you to the ‘back-door hire’ – so now you’re in a strong position to recover those missed earnings.

Protect Client Relationships While Recovering Missed Recruitment Fees Traditionally, recruitment agencies who discovered missed placement fees might turn to a debt recovery firm to recoup those lost earnings. Some may still choose that approach today. But now that bobcheck's automated fee tracking is available, many recruitment businesses are choosing a different, relationship-focused solution. In today's post we'll explain why we'd advise caution before going down the debt collector route, and outline why bobcheck offers a fundamentally different approach to recruitment fee protection. What is bobcheck? Automated Fee Tracking for Recruitment Agencies bobcheck is an automated candidate tracking tool which parses through your CVs and candidates to identify back-door hires (which we also refer to as 'bobs' – hence the name!) and missed placement fees. Most recruitment agencies simply don't have the manpower or time to manually check back through their candidate databases and keep an eye out for back-door hires. bobcheck automates this entire fee tracking process, turning checks that would take a human many (many) hours into the work of mere moments. With bobcheck in your recruitment tech stack, you should never miss a fee again. Did you know? We can parse through 10,400 lines of data in just six minutes! It would take a human, checking publicly available data sources, 45 DAYS to do the same.  How Does bobcheck Compare to Debt Recovery Firms? The Debt Recovery Approach Debt collectors, or debt recovery firms, will act as a third party on your behalf to try and recover missed earnings from your client. No doubt there are some reputable firms out there who do this work in a careful and well-managed way. But from our experience in the recruitment industry, turning to debt collectors feels heavy-handed, and can permanently damage your client relationships. We'd always recommend a discussion first, and keep debt recovery or legal action as a last resort. The bobcheck Difference: Prevention Over Collection Unlike debt recovery firms, bobcheck doesn't take a percentage of your missed fee. As a pure SaaS (Software as a Service) business, users simply pay a monthly subscription for automated fee tracking. With bobcheck, there's no hidden costs or taking a cut of your recovered earnings! Key Differences:

0900, 21st February 2024 London, UK David joins Goliath to protect their revenue It has always been our mission and purpose to protect the revenue of our recruitment agency clients. One of our goals was to get one of the largest agencies in the world using out product. On bobcheck's second birthday, we are announcing that Robert Walters and Resource Solutions has selected bobcheck to deliver an innovation trial within the business. What does this mean? EMEA, Americas and ANZ will use the platform to identify opportunities to re engage with their clients if a candidate has joined their business without paying a fee. There are many reasons why this might happen, but the indirect benefit is Learning and Development For Media and Press enquiries please contact Sam Brennan at sam@bobcheck.io