The importance of Compliance software in the recruitment sector
Posted on 19th May 2023, by Alex Bentley
Recruitment agencies play an essential role in the hiring process for many organisations, but they also face many challenges when it comes to compliance with regulations and ethical standards.
Efficient compliance software can provide recruitment agencies with numerous benefits, such as increased efficiency, reduced risk and improved compliance management. In this article, we will explore the benefits of efficient compliance software for recruitment agencies.
Efficient compliance software can streamline the recruitment process for agencies by automating many of the tasks associated with compliance management. This automation can save recruiters time and increase efficiency by reducing the manual workload associated with compliance tasks. For example, compliance software can automate the verification of candidate qualifications, work history, and references, saving recruiters time and ensuring that the process is accurate and reliable.
Existing Tifo client Capgemini, a global leader in consulting, technology services and digital transformation for over 50 years, have experienced a reduction in initial appointment times. Pauline Hallam, Manager at Capgemini said “Appointments can most of the time be reduced from 45 minutes as they were before, to 15-20 minutes. So, it’s more than halved most of them.”
Improved Compliance Management
Compliance management is a critical aspect of recruitment agency operations, and efficient compliance software can help manage compliance tasks more effectively. Compliance software can centralise compliance data and automate compliance tasks, providing agencies with real-time visibility into their compliance status. This visibility enables recruiters to identify areas of non-compliance quickly and take corrective action, reducing the risk of compliance violations.
Experis are one of the leading providers of workforce solutions and professional resourcing, and have been a Tifo client for some years. Sue Cummins-White, Customer Care Manager reflects on life before Tifo when their manual processes led to a lot confusion and sometimes information would be hard to find. However, Tifo Comply was able to put an end to this. Sue said: “It’s been a huge improvement. Prior to Tifo we used to get compliance via email. The brilliant thing about Tifo is that it’s one click to a candidate and then all compliance can be found within one place. It’s no longer hidden in email attachments.”
Recruitment agencies are often exposed to legal and regulatory risks, especially in highly regulated industries such as healthcare or finance. Efficient compliance software can help reduce these risks by ensuring that the recruitment process is compliant with regulations and ethical standards. Compliance software can automate the verification of work eligibility, background checks, and other critical compliance tasks, reducing the likelihood of errors or oversights that can lead to legal or financial consequences.
Agencies are frequently asked to produce compliance onboarding audit reports for multiple contractors at a time, which when produced manually can be a time-consuming process. With Tifo Comply they are produced at the click of a button. Sue Cummins-White explained: “Often our clients will require an audit from us, so they’ll want to look at, say 20 of the contractors that we’ve on-boarded,” explained Sue.
This was a struggle prior to Tifo Comply, as it involved bringing together information from a wide range of places, usually being communicated via email. However, Tifo Comply has a compliance audit report built in, making the whole process much simpler. “We can now present a really nice-looking document to a client and it’s very quick to do so,” she said.
Recruitment agencies that demonstrate a commitment to compliance are more likely to build trust and maintain good relationships with clients and candidates. Efficient compliance software can help agencies demonstrate this commitment by providing evidence of compliance with regulations and ethical standards. This evidence can be used to reassure clients and candidates that the recruitment process is fair, transparent and ethical, improving the agency’s reputation.
And it’s this focus on compliance that can help agencies win new business. Sue Cummins-White explains that using Tifo has made such a huge improvement to Experis’ business and process that it’s now mentioned as a benefit when bidding for new clients.
Embracing technology solutions should be embraced
There are many benefits to be had by adopting efficient compliance software, these are just some of them. As the recruitment industry becomes more complex and heavily regulated, efficient compliance software will become increasingly essential for agencies that want to stay ahead of the curve. By embracing technology solutions that automate compliance tasks, recruitment agencies can focus on what they do best: finding the best candidates for their clients.