If you sign a contract found through us with a day rate of £200.00, we raise an invoice for £200.00 payable within 14 days. The table below shows how this cost compares with traditional recruitment consultants when the end client is charged £200.00 - in our experience recruitment consultant margins range between 10 and 20%.
|SPT Contractors||Recruitment Consultant (10%)||Recruitment Consultant (20%)|
|Contractor day rate||£200.00||£180.00||£160.00|
|Average monthly invoice||£3,833.33||£3,450.00||£3,066.67|
|Invoice total for year||£46,000.00||£41,400.00||£36,800.00|
|Effective cost for year||£200.00||£4,600.00||£9,200.00|
|Contractor day rate||£160.00|
|Average monthly invoice||£3,066.67|
|Invoice total for year||£36,800.00|
|Effective cost for year||£9,200.00|
There is no cost for registering with SPT Contractors or for applying for engagements; your Limited company will only incur costs if you sign a contract (or contract extension) for an engagement found through our site. As you can see from the breakdown above, your Limited company could save £1000s over the term of a contract, and you could effectively break even in as little as 5 days compared with finding a contract through a traditional recruitment consultant with a margin of 20%.
Although we believe we charge a fair price for our services we are not just looking to undercut the competition. We believe our platform provides a level of transparency that can sometimes be lacking with traditional recruitment consultants. As well as a clear pricing model, we will keep you informed every step of the way through the process of finding your company's next engagement. If you are unsuccessful you will no longer be faced with a wall of silence and a contact who is mysteriously away from their desk every time you call - you will be contacted immediately and provided with any feedback we receive. Engagers have the ability to limit the number of applications they receive and you will be informed if your application is held back for this reason. If the engagement is withdrawn or filled by another contractor who just happened to get in first, you will always be told. And if our machine learning algorithms reject your application this will be made clear to you and you will be able to object, if you feel the algorithm made a mistake.
We also strongly believe in equal opportunities. There have been many studies into conscious and unconscious bias when reviewing applications based on name alone. Since we are facilitating a business to business relationship, only your Limited Company name will be available to engagers when they first receive your application.
* For now we only support Limited company contractors looking to offer their services. We hope to support contractors who work through Umbrella companies in the future.