How to Get Paid Quickly as a Recruiter — Tried and Tested Methods
Picture this. After several weeks of substantial hard work as a recruiter, you’re finally about to reach your end goal. You can feel the excitement permeating the air as you identify the ideal candidates and commence the onboarding process. As companies receive their dream employees, you’re about to receive your dream reward as well: a big, beautiful paycheck with your name on it.
Let’s be real. There’s nothing quite like payday…and for a good reason. You’ve devoted endless hours of the day to fulfill your never-ending recruiting duties, and you deserve to be appreciated for these incredible efforts in return. So enjoy every bit of that $$$. You’ve earned it.
After all, it’s not easy out there. Being a recruiter means working day and night to find the most phenomenal talent to fill loads of open job positions. It means toiling tirelessly to satisfy dozens of eager clients and keeping in mind the interests of every party involved. And needless to say, the workload can get a little intense.
Plus, those bills aren’t gonna pay themselves. This paycheck plays a super important role in allowing you to live a comfortable life. You’ll no longer have to worry about putting food on the table or taking care of your mortgage. Sounds great, doesn’t it? The only problem is… you don’t know when this dream of yours will transform into reality.
That’s right. One of the bitter truths you’ll learn in the professional world is that payday doesn’t always come knocking on your door when you think it will. Days might turn into weeks…which might then turn into months. And all of a sudden, you’re drowning in debt and struggling to pay off your bills.
Lucky for you, we have a solution. Whether you’re an up-and-coming recruiter or an established recruiter, this guide is all you need in order to become savvy enough to dominate the market. Now you’ll never have to wait weeks upon weeks after making the placement. This right here is the key to getting paid quickly. Have a look.
Set Better Agreement Terms
There’s nothing more important than setting the correct terms from the get-go. The decisions you make in the beginning can and will follow you around for eons. So what that means is… always remember to think carefully about the future and aspire to put yourself in a position where you can prosper like never before.
If you’re looking to get paid faster, consider settling for a little less money than you originally planned. On paper, this might seem like a recipe for disaster…but what you’re really doing is giving companies an incentive to pay you super duper quickly. Over time, these paychecks will add up and provide you with as much $$$ as you initially envisioned…if not more. A little discount indeed does wonders.
Give up a Small Percentage
Another thing you could potentially do is partner up with a company that takes a little percentage of your cut from the company you’re working with and pays you on the spot. Yes, you heard that right. Once you fill in those job roles, the money will arrive at your doorstep quickly. And all you have to sacrifice is a small percentage…nothing major. So basically, you’ve little to lose and oh-so-much to gain.
So instead of waiting maybe about 2-3 months, you get your payment quickly just by giving up a small percentage.
Partnering with a Factoring Company
Remember the idea we just discussed in the previous section? It’s a little something we like to call factoring. In the real world, it is nearly impossible to always have a wad of extra cash. Chances are, you’ll need the requisite funding to jumpstart your business. As you partner with companies that can provide you with said money, they’ll take a small percentage in order to make their own money and also benefit you in the process. It’s a win-win. So without further ado, let’s talk in more detail. Here’s what you can expect.
After you make your placement, the original company (the one responsible for hiring you) is going to pay the factoring company a specific amount. Once that’s done and over with, the factoring company is going to pay you immediately (yes!) and take a tiny piece of it, as we discussed previously. For example, if you were supposed to receive a $10k check from your placement, the company might take, say, 6% or $600 from that amount.
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Remember that you won’t have to wait very long to receive your payment. And at the end of the day, that’s really the perk we look forward to the most. The key is to play your moves strategically and picture your long-term growth. The steps you take right now may very well dictate your whole future.
What You Should Keep In Mind When Engaging With a Factoring Company
You really don’t want to skip these. Here are some things you should look at:
- So first and foremost, you need to remain vigilant and remember that you’re not obligated to be in this position. If you feel like a factoring company is going to be of great use, that’s amazing!
- If you’re dealing with, say, a rather large revenue, you might not appreciate a percentage being taken out of that amount. If such is the case, you can opt for the standard route and wait out the time period. If any company tries to compel you into thinking this is a bad idea, it is honestly a major red flag.
- The last thing you want is to be taken advantage of here…so we highly recommend staying cautious, thoroughly planning and doing your research, and keeping your options open if need be.
- On top of that, we also recommend asking the factoring company directly if they intend on ever placing any liens against your business. Unfortunately, we’ve heard some horror stories over the years about companies doing similar things…and we would hate for you to experience something of the sort. It is important for you to know that such behavior does not align with industry standards in any way whatsoever. After all, this is a partnership. So the point is… don’t hesitate to be upfront and ask questions before fully committing to the process. It’s better to be safe than sorry.
Don’t let this information scare you! At the end of the day, it is still an excellent tool if you’re looking to get paid quickly without enduring those agonizingly long wait times. Before you know it, you’ll be climbing the stairs to success and dominating the industry as a recruiter! Get ready to showcase your incredible talents to the world and receive the rewards of a lifetime.
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