Category Archives: Agencies

Things we should know about outsourcing to commercial collection agencies

Things we should know about outsourcing to commercial collection agencies

Any company, large or small, that extends credit usually has some amount of receivables owed from slow paying or non-paying customers. The fact that not all customers pay, or pay on time, is reflected in balance sheets under the description bad debt or other receivables. Aging receivables can be managed inside or by outsourcing to commercial collection agencies. Here are five benefits businesses realize by opting to outsource to commercial debt collection agency in Singapore:

Collect sooner rather than not at all

The accounts receivables staff is often tasked with collecting aging receivables. These people generally have other responsibilities and may obviously put off doing collection work merely because it is not anyone’s favorite task. Since the longer a debt remains unpaid, the less likely it is ever to be collected, delay in collecting can be costly. Commercial collection agencies understand this principle and are provoked by their business models to collect sooner rather than later, recovering money that otherwise might be gone forever.

Maximize revenue

In some companies, salespeople do not receive their full commissions until all monies are received from clients, thus forcing salespeople to spend at least some of their time working in an accounting function. Not only can this lead to confusion and decline of relations with clients, but the unlucky outcome of this practice is that every minute spent collecting is a minute spent not generating future revenue.

Keep the door open for additional business from existing customers

Retaining existing customers is generally much less expensive than acquiring new ones. By hiring collection agencies, companies detachment themselves from the role of bad cop when existing clients are reluctant to pay. The first notice from a collection agency may be enough to spur the customer into action while allowing the relationship between the parties to remain cordial or neutral.

Work with, not against, prevailing business practices

One way companies manage cash flow is by holding payables as long as feasible. Every company has a philosophy, if not an actual written policy, about when to pay their bills. Sometimes the philosophy dictates that bills are not paid until creditors demand payment in terms stronger than a monthly invoice. A letter or a call from a collection agency is often the trigger for a check to be released.

Save money by paying only for results

When receivables are significant, there may be a dedicated collections person who is paid a salary regardless of how much bad debt is recovered. Many business collection agencies are paid only when they gather, so companies using collection agencies can often save the expense of salaried employees.

Since banks review balance sheets when deciding to make loans or extend lines of credit, it is important to have as small an amount of old receivables as possible, while at the same time extending credit to new and existing customers to fuel enlargement. By implementing a policy of collecting early and regularly through neutral third party collection agencies, companies keep their customer relationships and their books healthy while improving their creditworthiness. To read more about legal debt collector in Singapore check here.

Share this:

Importance of recruitment agency:

Importance of recruitment agency:

Staffing organizations can play an important function in helping you find the right candidates for essential projects or roles without placing undue stress on your human resources department. The first-class staffing businesses could be able to surpass your expectations through ensuring no prospect steps into your office unless they meet all your necessities. Many staffing corporations behavior employee screening and checking out. Your enterprise may not have the time or assets to interact in these practices, however, a good staffing firm ought to make it a requirement for applicants in search of placement along with your employer. Some staffing corporations will not simplest carry out the reference and background exams, however also will provide skill assessments to decide how talented candidates are at typing, hassle solving or the usage of customer support or unique technical competencies that are required elements of your open positions.

Hiring brief or seasonal staffers can be hard. Doing this in your very own means handling all the administrative and logistical concerns for employees who may not be around long-term. Hiring a staffing agency to help with short-term hires let your attention at the undertaking at hand without traumatic about a way to push aside brief workers on the task’s conclusion. Having a take care of on flexible staffing can help you meet a business need if a worker gets injured on the job or has to take a depart of absence. Your organization also can additionally lessen seasonal employee healthcare expenses by means of having an agency be in price in their payroll and blessings.

Having your HR group of workers spending numerous hours an afternoon poring over resumes or interviewing unqualified candidates isn’t always an excellent use of their time. A legitimate recruiting corporation guarantees that simplest the quality applicants make it to a face-to-face session. Recruitment agency is employed with the aid of businesses wishing to fill a selected role within their enterprise. The recruitment employer will then use the details provided by way of the enterprise to the region an advert on appropriate websites in order that jobseekers can observe. Once the activity has been published and the packages begin arriving, it is the task of the recruitment organization to type thru the packages to locate the most appropriate candidates for the location-based totally on their revel in and qualifications.

S pass levy:

The overseas worker levy, usually known as “levy”, is a pricing mechanism to regulate the wide variety of foreign people in Singapore. As a corporation, you have to pay the levy for all your S Pass holders. The S pass levy starts from the day and ends once it is issued and canceled or expires. As an easy tenet, skilled overseas personnel preserving acceptable academic qualifications (Bachelor Degree and above) and professional qualifications with managerial/government/professional revel in and who earn a fixed monthly earnings(commensurate with their experience and task position) are eligible for an Employment Pass to paintings in Singapore. For candidates of this caliber on EP, the MOM does no longer impose an overseas manpower quota or foreign employee levy.

Instead, that person can work in Singapore on an S Pass. A foreign employee levy is imposed on the company for S Pass holders, and the agency needs to also meet the overseas manpower quota applicable for its industry region. Furthermore, hiring agencies must be able to prove to the Ministry of Manpower (MOM) that the foreigner’s capabilities, qualifications and revel in are particular/superior and crucial for their companies’ success. Companies ought to additionally display that they have got made real efforts to recruit a Singaporean candidate first, earlier than looking outside the local expertise pool. This is in step with the Singapore Government’s enhancement of the paintings bypass eligibility criteria for each applicant and neighborhood employers to enhance employment opportunities and conditions for locals.

Share this:

3 Things we must know about maid agencies and hiring a helper in Singapore

3 Things we must know about maid agencies and hiring a helper in Singapore
  1. Is it a good idea to find a domestic helper and handle the paperwork on our own?

If we can find a helper who is highly recommended by a trusted friend, it may be a good idea to employ that helper. However, there have been cases where the friend over-sold the helper’s skills just to be rid of her. There is also the possibility that the helper may fit in with our friend’s family but not with ours. Still, it is a good idea to give the recommended helper a chance to work with our family and see how it goes. If it works out, great! If it does not, at least both of us gave it a shot. If we would like to save on agency fees, then filing the application on our own is fine.

However, there is a lot that needs to be done before the Ministry of Manpower (MOM) approves the application, such as getting written consent from the helper’s current employer and ensuring that she has undergone a medical examination. Detailed instructions, employer guidelines and the necessary application forms can be downloaded from the MOM website at www.mom.gov.sg.

  1. Where do maid agencies find their helpers? And how will we know if they are good?

Many maid agencies have their own international partners who supply to various countries as well as to best maid agency in Singapore. Some agencies source their helpers locally. These helpers are generally trained in the overseas centers.

Whether the helper is “good” is dependent upon her experience, and whether her character matches our needs and requirements. Even so, we will still need to train our helper once she’s working with us, so she will know exactly how you want things done. For example, many helpers are social media-savvy and have smart phones. And while we cannot prohibit our helper from using these, we can talk to her about her usage so her work is not affected.

  1. How do we identify if a helper is right for our family?

This is a tough question to answer. Hiring a helper is often similar to a marriage: If it does not work out, then it does not work out. Firstly, interview the helper in person: Ask about her character, her hobbies and what she does on her days off. Ask her also what a typical work day is like with her current employer. Her answers should give us a good idea of whether she is the right fit for our family.

Additionally, let her know what her job scope will be if she is hired, and what will be expected of her in our home, so that she can decide if this is what she is really looking for. Ask her about her expectations for the new job – salary, curfew time and how she wants issues to be resolved – and share our house rules with her. It is important to keep the channels of communication open always, so we would not have any misunderstandings. For more details about katong shopping centre maid agency click here.

 

 

Share this:

4 Things we should know when hiring domestic helper

4 Things we should know when hiring domestic helper

If this is going to be our first time hiring a domestic helper in Singapore too, we hope this article will be helpful to us.

  1. Part time maid or full-time maid

Hire maid in Singapore has never crossed our mind as we prefer more privacy. However, as our husband’s business expand and having to juggle between our business, kids, and housework. The options of getting a domestic helper are eventually open as we are also planning for our next pregnancy. However, we are still pounding whether to get a part time maid or full-time maid.

  1. Who can hire a foreign domestic helper in Singapore?

We can hire a foreign domestic helper if we are one of the following:

  • A Singapore citizen
  • A Singapore permanent resident
  • An employment pass holder
  • A dependent pass holder
  1. Her appearance, height, weight, country

Let’s face it; we normally discuss these factors only with our closer friends and family members. These are the “stereotypes but subjective” factors we usually look into prior interviewing them since we have to screen through their resume first before shortlisting a few of them.

These are seldom discussed openly online since it is stereotypes and subjective. But here is what we would like to share with us (Some advice from closer friends while some are advice from the forum.). Please treat this as a pinch of salt in making our own decision. In any way, sometimes it is based on luck as well.

  1. Fresh new maid or transfer maid

Fresh new foreign domestic helper:

The good thing about hiring new maids is that we can train her with our style of cleaning and cooking etc. There will be lesser arguments and they will adapt to our requirements and expectation easily as they have little or no comparison between us and her previous employers (already have her style of doing things).

However, we will need a lot of patients to teach them since they are still adapting the lifestyle standard in Singapore. If we are expecting our first child, it is wiser to hire them earlier so they can get familiar with the housework stuff before handling a baby.

Transfer foreign domestic helper:

The good thing about transfer maid is that they are more experienced maid with lesser guidance. However, we might be thinking what is the reason for the transfer? Most friends’ advice to avoid transfer maid introduces by maid agency as we would not know the real “truth” of the transfer. Most of them are a problematic maid too.

However, it is safer to accept a transfer maid with our friends’ recommendation (their previous employer) instead. Their previous employer which is also our friend will then give a truthful opinion. To read more about Singapore maid agency fee click here.

 

 

 

 

 

 

Share this: