Existing Terms & Conditions Audit for Recruitment Agencies
A regular terms & conditions audit for recruitment agencies is imperative for a healthy back office and the ability to scale efficiently with peace of mind.
The value of recruitment businesses also depends on having solid terms of business in place with clients. When you decide to sell your recruitment agency, the buyer will want to know what terms you have signed with what clients, when they expire, and what risks you have agreed to.
A regular Terms & Conditions Audit will help you ensure your recruitment agency can manage risk effectively, your exit strategy is more likely to be a success at the point you decide to sell, protect the value of your investment and give you peace of mind in preparation for that eventual sale!
Risks of not auditing your terms
- Failure to properly assess contractual risk means it cannot be managed effectively.
- Should you sell your recruitment company, the buyer will want to know that you have signed contracts with a fair assessment on your risks. Failure to prove that you have conducted regular audits could cause a great deal of stress and negatively impact the value of your business(es).
- Out of date or expired contracts mean that you may end up losing fees.
Benefits of a regular Terms & Conditions Audit
- Regular audits will ensure that you understand all risks and obligations placed upon your business.
- Understanding who you have valid agreements in place with means that you can focus your business development on specific clients.
- Knowing where your main risks lie allows you to renegotiate or close client contracts in order to better aid a potential sale.
For new client contracts, send us your documents for a risk review using our online contract review service before entering the agreement.
Contact us today and let us soothe your headaches.