An unfilled vacancy is something recruiters don’t want to happen. The creation of a split-fee platform by the Institute of Recruiters (IOR) is aimed at providing a regulated platform for recruiting personnel to work together to marry suitable candidates with vacancies.
Amzat Mohammed, Director General at the Institute of Recruiters, IOR, says: “No one wins if recruiters are unable to fulfil a client’s brief. While one recruiter holds the brief and may not be able to locate the right candidate, the other may actually have that candidate. In these circumstances it makes sense to join together and split the fee.
“Split-fee agreements have to be seen as outsourcing part of the recruitment process. In those circumstances, IOR Exchange will provide the necessary framework to enable recruiters to work together to successfully meet the brief.”
IOR Exchange will provide formal contracts for the protection of both parties to enable them to work together and to split the fee.
Azmat adds: “The Institute has worked with a national law firm to establish IOR Exchange to ensure that any agreement is legally binding. We will be launching it early next year and to coincide there will be a series of seminars, held jointly with the law firm, about how to get the best out the split-fee agreements and ensure that all sides are suitably protected.
“Working in this way can help to open new markets for recruiters and create partnerships which can be developed as part of an evolving business model.”
The Institute of Recruiters (IOR) is a British Institute representing the highest standard mark in British recruitment. For further information please contact Azmat Mohammed, Director General on 0871 288 2108.