Wilson Cole's Podcast From The Road

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A collection of topics regarding Human Resources and Back Door Hire Issues, Staffing Debt, Debt Collection, Past Due Debt and more presented by Wilson Cole of ELOC Global Group of Companies.

Wilson Cole


    • Jan 30, 2023 LATEST EPISODE
    • infrequent NEW EPISODES
    • 12m AVG DURATION
    • 124 EPISODES


    Search for episodes from Wilson Cole's Podcast From The Road with a specific topic:

    Latest episodes from Wilson Cole's Podcast From The Road

    Recession advise if you've been in business less than 10 years

    Play Episode Listen Later Jan 30, 2023 7:55


    There's a lot of talk about the recession lately, and if you've only been in the business for less than a decade, it's definitely getting a tad scary.  In today's Monday episode, Wilson shares some advice to ease your mind, so make sure to tune in. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving over 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue

    Preferential Payments in Bankruptcy: Debt Consolidation and Settlement

    Play Episode Listen Later Jan 23, 2023 5:59


    Bankruptcy may sound like the end all be all, but don't fret. There is a legal way out. Let Wilson walk you through how debt consolidation and settlement work for today's episode. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving over 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Payment Systems and Payment Methods

    Play Episode Listen Later Jan 16, 2023 4:36


    The truth about payment systems and methods, in general, is that it comes with risks.  What risk exactly? Wilson discusses it all in this episode. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving over 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    The 3 worst Back Door Hire Excuses

    Play Episode Listen Later Jan 10, 2023 6:14


    We've been in the business of helping recruiters, and staffing companies collect missed placement fees due to backdoor hiring.  You can say we've heard it all—every excuses out there—but these three take the cake for the worst reasons delinquent clients may use to cover up their backdoor hiring. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving over 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.  

    3 excuses that may be somewhat legitimate

    Play Episode Listen Later Jan 3, 2023 7:31


    If you ever get into a backdoor hiring situation, you'll hear clients draw up excuses that support why they did what they did. And sometimes, these reasons may even be legitimate. For today's Monday Morning Memo, Wilson clues you in on what these excuses might be. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving over 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    3 reasons why you get back door hired

    Play Episode Listen Later Dec 20, 2022 7:44


    At this point, you're already familiar with backdoor hiring and how it hurts your business, right? But why did it happen? Why did you get a back door hire? Wilson and Samantha cover three loopholes you might have missed. So, watch out for these! Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    3 states that you have to worry about if you're a staffing firm or recruiting firm

    Play Episode Listen Later Dec 19, 2022 5:43


    Are you a staffing or recruiting firm? First, there's something you need to know. In today's episode, Wilson and Samantha talk about the three states you must be mindful of when operating such a business.  Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    3 things you should do when you have been backdoor hired

    Play Episode Listen Later Dec 12, 2022 5:16


    You know one thing that's even worse than your prospective candidate not getting selected by your client? When they get backdoor hired.  What is backdoor hiring, and why does it hurt you and your business more? Let Wilson and Samantha explain in today's episode. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    You're still on the hook if you're using a Funding Company

    Play Episode Listen Later Dec 6, 2022 5:22


    Are you using a funding company? If yes, you might want to tune in. In today's memo, Wilson and Samantha discuss why you're still “on the hook” if you're using a funding company. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Calling All Recruiting And Staffing Firms. Ask your Questions!

    Play Episode Listen Later Nov 28, 2022 5:13


    There's a lot coming and going in the collections world—stories you might want to share and questions you might like to ask.  So, the floor's all yours! For today's episode, Wilson and Samantha invite you, our dearest audience, to ask whatever burning question you might have from a collection standpoint. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Make sure your debtor is a CORP. in good standing

    Play Episode Listen Later Nov 22, 2022 10:21


    Knowing the company you're offering this generous offer to is very important when you offer credit. It can make or break your business. For today's episode, Wilson and Samantha walk us through the process of background checking, so you're sure your debtor is a corporation in good standing. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Recruiter Did Not Do Anything

    Play Episode Listen Later Nov 14, 2022 9:07


    In the three decades of helping staffing and recruiting agencies to recoup their overdue placement fees, it's safe to say we've heard most excuses. For today's episode, Wilson and Samantha discuss one of the most used: the recruiter did not do anything. Tune in to learn more about the justifications delinquent clients may use not to pay you. Over the past 30 years, Adams, Evens & Ross, which only collects debts for the staffing and recruitment industry, has developed into the world's largest credit and collection organization. With offices in the US, Canada, the UK, and Asia, Adams, Evens, & Ross is the undisputed leader in credit and collection for the staffing and recruiting industry, serving over 3500 staffing and recruiting businesses. Collecting past-due debts for hiring and compelling is the only thing we do. One benefit of working with Adams, Evens & Ross is that we do not have to learn how to get back your past-due staffing and recruitment debt. Our team is our best-kept secret. In addition to seasoned debt collectors, asset sleuths, and top-notch support staff, we are one of the few collection companies with in-house attorneys on staff. The reason Adams, Evens & Ross is the only collection agency in the world with the backing of 10 staffing and recruiting trade publications, 14 associations, and 5 financing companies is beyond dispute. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Medical Balance is High Specialized Funding

    Play Episode Listen Later Nov 8, 2022 7:48


    Medical Balance is High Specialized Funding The medical industry was undoubtedly our greatest hero as we grappled with the realities of the COVID-19 pandemic. But for staffing and recruiting firms who help provide facilities with healthcare staff, there's one bottleneck: difficulty in collecting placement fees. For today's episode, join Wilson and Samantha as they discuss common excuses clients in the healthcare industry may pull when paying placement fees. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Rule #1: Get Your Time Sheets Signed

    Play Episode Listen Later Oct 31, 2022 6:59


    A timesheet is precisely what it sounds like—a sheet detailing time. For staffing firms, timesheets may record the hours a staff is in or worked on a particular project. Whatever way it records time, the staffing industry agrees timesheets are important. But why? For today's episode, Wilson and Samantha discuss why completing these timesheets is essential for your business. Adams, Evens & Ross, which only collects debts for the hiring and recruitment sector, has grown to be the world's largest credit and collection company during the past 30 years. Adams, Evens, & Ross is the unchallenged leader in credit and collection for the staffing and recruiting sector, with offices in the US, Canada, the UK, and Asia serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to recover your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting company in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 financing corporations. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Recruiters, Avoid this Pitfall!

    Play Episode Listen Later Oct 24, 2022 7:49


    Like a small ripple that can build to an impossible current, missing out on the tiniest details can cost you. And when we say tiny, we mean it. Typographical errors, missing signatures, or failure to send a copy to the other party can all be honest mistakes, but they may pose a problem moving forward. In this episode, Wilson and Samantha recount a particular case that demonstrates the importance of checking (double and triple even) every agreement to ensure you close all loopholes.  Adams, Evens & Ross has grown to be the world's largest credit and collection agency that only collects debts for the hiring and recruiting sector during the past 30 years. Adams, Evens, & Ross is the undeniable leader in credit and collection for the staffing and recruiting sector, with offices across the US, Canada, the UK, and Asia, serving more than 3500 staffing and recruiting organizations. All we do is collect past-due debts for hiring and recruiting. Dealing with Adams, Evens & Ross has several advantages, one of which is that we do not have to learn how to collect your past-due staffing and recruitment debt. Our secret is our people. We are one of the few collection agencies with a staff of in-house attorneys in addition to seasoned collectors, asset sleuths, and top-notch support employees. There is no question as to why Adams, Evens & Ross is the only collecting agency in the world to have the support of 10 recruiting and staffing trade publications, 14 associations, and 5 funding firms. To turn over a past-due account, click the link below:  https://www.staffingdebt.com/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below.  https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below:  https://www.aeremail.com/consult33188836 To receive a free copy of our book, click the link below: https://www.backdoorhire.com/freebook/

    Midwestern Recruiters, We Got Some Good News For You

    Play Episode Listen Later Oct 17, 2022 8:15


    When it comes to the staffing and recruiting industry, we keep our ear to the ground. Here is great news for any recruiter located in the midwest. In this episode, Wilson and Sam break down the new ruling that is benefiting midwestern recruiters. Over the last 30 years Adams, Evens, & Ross has become the largest credit and collection firm in the world that collects exclusively for the staffing and recruiting industry. With offices located in the US, Canada, UK, and Asia servicing more than 3500 staffing and recruiting firms, Adams, Evens, & Ross is the undisputed credit and collection leader for the staffing and recruiting industry. All we do is collect a past-due recruiting debt and past-due staffing debt. One of the many benefits of dealing with Adams, Evens, & Ross is we do not have to learn how to collect your past-due staffing and recruiting debt. Our people are our secret. We are one of the few collection firms large enough to have Staff Attorneys on staff along with Seasoned Collectors, Asset investigators, and World-class Support Staff. There is no doubt why Adams, Evens & Ross is the only collection firm in the world that is endorsed by 5 funding companies, 14 associations, and 10 recruiting and staffing trade magazines. To turn over a past-due account, click the link below: https://www.staffingdebt.com/place-account/ To subscribe to our FREE Credit Alert Email, a weekly email that identifies the companies that have not paid other staffing and recruiting firms, click below. https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/ Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    How Can Recriuters Survive The Great Resignation

    Play Episode Listen Later Oct 13, 2022 6:56


    The proverbial 40-year plan, where people work for the same company for 40 years and retire to a gold watch, is extinct. The gold watch days are over. Instead, employees jump from opportunity to opportunity looking for the best option. This is known as "The Great Resignation" What does this mean for recruiters? Wilson and Samantha talk about how this affects the Staffing and Recruiting Industry. Over the last 30 years Adams, Evens, & Ross has become the largest credit and collection firm in the world that collects exclusively for the staffing and recruiting industry. With offices located in the US, Canada, UK, and Asia, servicing more than 3500 staffing and recruiting firms, Adams, Evens, & Ross is the undisputed credit and collection leader for the staffing and recruiting industry. All we do is collect a past-due recruiting debt and past-due staffing debt. One of the many benefits of dealing with Adams, Evens, & Ross is we do not have to learn how to collect your past due staffing and recruiting debt. Our people are our secret. We are one of the few collection firms large enough to have Staff Attorneys on staff along with Seasoned Collectors, Asset investigators, and World-class Support Staff. There is no doubt why Adams, Evens & Ross is the only collection firm in the world that is endorsed by 5 funding companies, 14 associations, and 10 recruiting and staffing trade magazines. To turn over a past-due account, click the link below:  https://www.staffingdebt.com/ To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below.  https://www.aeremail.com/credit-alert-signup-form To book an appointment to discuss your specific collection issue, click the link below:  https://www.aeremail.com/consult33188836 To receive a free copy of our book, click the link below: https://www.backdoorhire.com/freebook/

    Recruiting and Staffing: What to Expect from a Debt Collection Agency

    Play Episode Listen Later Oct 3, 2022 9:07


    Recruiting and Staffing: What to Expect from a Debt Collection Agency In this episode, Wilson and Samantha talk about what to expect when an account is turned over for collections. They will give you a realistic overview of the collections process. Samantha digs deep and pulls back the curtain on the legal side.  Over the last 30 years Adams, Evens, & Ross has become the largest credit and collection firm in the world that collects exclusively for the staffing and recruiting industry. With offices located in the US, Canada, UK, and Asia. Servicing more than 3500 staffing and recruiting firms, Adams, Evens, & Ross is the undisputed credit and collection leader for the staffing and recruiting industry.   All we do is collect a past-due recruiting debt and past-due staffing debt.  One of the many benefits of dealing with Adams, Evens, & Ross is we do not have to learn how to collect your past due staffing and recruiting debt.  Our people are our secret.  We are one of the few collection firms large enough to have Staff Attorneys on staff along with Seasoned Collectors, Asset investigators, and World-class Support Staff.  There is no doubt why Adams, Evens & Ross is the only collection firm in the world that is endorsed by 5 funding companies, 14 associations, and 10 recruiting and staffing trade magazines.   To turn over a past due account, click the link below: https://www.staffingdebt.com/place-ac...   To subscribe to our FREE Credit Alert Email, an email that is sent out weekly that identifies the companies that have not paid other staffing and recruiting firms, click the link below. https://www.aeremail.com/credit-alert...   To book an appointment to discuss your specific collection issue, click the link below: https://www.staffingdebt.com/book-a-3...   Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Monday Morning Memo: Avoid Shades of Gray In Your Recruiting Contract

    Play Episode Listen Later Sep 25, 2022 10:23


    Monday Morning Memo | Avoid Shades of Gray In Your Recruiting Contract   Recruiters will sometimes attempt to include some marketing into their contracts. This is a terrible idea, a contract is your safeguard against non-paying clients, and it's no place for marketing. In this Monday Morning Memo, we will be talking about some things we HATE seeing in our client's contracts. We're going to go over words and phrases to avoid at all costs. We suggest you go over your own agreement to look for these "shades-of-gray makers". If you find any, you should consult with your attorney immediately.   Gray Areas and Trying to Get the Deal Done    When you try to get the deal done with a client, gray areas can be a significant headache for you. For example, if you were to say, “We will present you with a quality candidate” then you may have just created a gray zone for your deal. We understand that you're trying to do it to sell the client; however, it can cause several problems.    Final Thoughts    A contract is one of the best tools that you have available to prevent client-related problems. Selling and marketing should be done long before sending the contract and not in the contract.     Key Takeaways    ● Recruiters, sometimes, to sell a client, will say things that will paint them into a corner. ● Suggestive or qualifying words can create an uphill battle for you when you have to collect  ● Recruiters can save themselves a lot of anguish and a lot of problems if they avoid these words and phrases ● Being straightforward and using cut and dried language in your contracts is the best practice   Over the last 30 years Adams, Evens, & Ross has become the largest credit and collection firm in the world that collects exclusively for the staffing and recruiting industry. With offices located in the US, Canada, UK, and Asia servicing more than 3500 staffing and recruiting firms, Adams, Evens, & Ross is the undisputed credit and collection leader for the staffing and recruiting industry. All we do is collect a past-due recruiting debt and past-due staffing debt. One of the many benefits of dealing with Adams, Evens, & Ross is we do not have to learn how to collect your past-due staffing and recruiting debt. Our people are our secret. We are one of the few collection firms large enough to have Staff Attorneys on staff along with Seasoned Collectors, Asset investigators, and World-class Support Staff. There is no doubt why Adams, Evens & Ross is the only collection firm in the world that is endorsed by 5 funding companies, 14 associations, and 10 recruiting and staffing trade magazines.   To turn over a past due account, click below: https://www.staffingdebt.com/place-account/    To subscribe to our FREE Credit Alert click below: https://www.aeremail.com/credit-alert-signup-form   To book an appointment to discuss your specific collection issue, click below: https://www.staffingdebt.com/book-a-30-minute-free-consultation/    Call us at  800-452-5287 Ext 6578 to discuss your collection issue.

    Monday Morning Memo: Why Recruiters Want To Get A Signed Contract Versus Creating A Contract With A Bunch Of Emails That Have A Lot Of "feeling" Words In Them

    Play Episode Listen Later Nov 12, 2020 9:29


    Monday Morning Memo: Monday Morning Memo Three Things Engineering Firms Can Do To Speed Up Cash Flow

    Play Episode Listen Later Oct 6, 2020 9:16


    Monday Morning Memo: Monday Morning Memo What Engineering Firms Need To Do To Reduce Their Credit Risk

    Play Episode Listen Later Sep 29, 2020 9:16


    Credit risk is an issue that many types of firms will have to deal with regularly. These credit risks threaten your business’s stability, so you need to know how to deal with them. Engineering firms are especially at risk if they are betting on that one big job or large contract. In today’s Monday Morning Memo, Wilson and Samantha Cole go over a few things that engineering firms need to do to minimize their credit risk. How Engineering Firms Can Reduce Their Credit Risk Minimizing credit risk is a challenge that can have a significant impact on your business based on how you handle it. You can effectively reduce your credit risk and consider it a minor nuisance, or you mismanage your credit risk, and you’re put into a situation that puts your business on the line. So to prevent that from happening, you need to reduce your credit risk the right way. Pull Credit on a Company A great way to make sure that you minimize the risk involved when it comes to working with someone is to pull credit on them. It shows you if they have any pending liens and lawsuits. It also shows you how they’re paying their bills. Credit reports ensure that you know how they’re paying their other creditors so you can make a decision based on that. Get The Credit Application Signed You also can’t properly set credit lines until you get three trade references and a bank on an old fashioned credit application. Getting these signed lets you know how many figures they have in their bank and if they can pay you back in the future. Get a Signed Contract You cannot believe how much a signed contract can save you the hassle of dealing with credit risks. Without a signed contract, you can’t charge late fees, attorneys fees, and interest. Word of mouth can be a very unreliable way to set up agreements between two companies, and signed contracts provide a reliable method for you to defend yourself in court. Speed Up Your Invoices One thing that can help you reduce your credit risk is to speed up your invoices. Stop putting 30, 15, 10 days on your invoices. Instead, you should put a definite date on it, so they are aware of the deadline. When these companies get into your invoices and start recording them, they will put in the date into their database, and by nature, that speeds up your cash flow. Create a Sequential Letter Series Another great tool that you can use to reduce credit risk is to have a sequential letter series ready. These sequential letters let your client know that they are behind on their payments and to let them know that you know that they’re behind on their payments. That puts them on guard and makes them more likely to pay you back as soon as possible. Key Takeaways ● You need to understand that the individual who owns the company doesn’t owe the debt. It’s the business or company that owes it. So if the business were to shut down, then the owner opened up another company; it’s kind of a legal way to steal. ● You can’t properly set credit lines until you get three trade references and a bank on an old fashioned credit application. ● That credit application can give you a neat way to set up more safeguards

    Monday Morning Memo: Why We Keep Asking For Some Of The Same Supporting Documentation Through The Legal Process

    Play Episode Listen Later Sep 15, 2020 11:26


    Monday Morning Memo: If You Allow Clients To Use COVID-19 As An Excuse Not To Pay You It Could Damage Your Contract

    Play Episode Listen Later Sep 1, 2020 13:26


    You can feel COVID-19’s impact across the nation. Businesses are forced to close, entire cities put into quarantine, and necessities being harder to get are just some of its effects. But did you know that COVID-19 has also affected your business contracts? Why You Should Never Allow COVID-19 to Be Used As An Excuse Not To Pay You We’re four to five months into this pandemic. We’ve mentioned how the pandemic will cause a downturn or recession, which has been the case so far. Many businesses that have started struggling are now using COVID-19 as an excuse. You should never allow your debtors to use it as an excuse for not paying your fees. They Were Never Planning To Pay You In The First Place A client who owes you a fee from January or earlier means that they were never planning to pay you in the first place. They are simply using COVID-19 as one of the reasons to pay you later or not at all. Be Very Careful When Dealing With Debtors It would be best if you always were very careful when dealing with debtors. They might be able to void your contract from under your nose if you aren’t. One example is if they say, “hey can we pay X and pay the rest later”. They will start turning this into “hey can you modify this section of the contract”. The minute they start rewriting these terms, you end up punching holes into your contract until it is no longer valid. What Could You Do To Minimize The Impact of The Pandemic on Your Business? The most valuable asset you have right now during the pandemic is time. Over the last few months, the government has been providing ways for businesses to stay afloat. Eventually, the money they received from the government will dry up. You need to move quickly and turn up the heat on your debtors. Otherwise, you might not be able to collect your fees. Work With Your Debtors The pandemic has called a large number of businesses to struggle. Your clients could be one of those struggling. However, if they’ve been making the right payments over the last few months around April or May, try to work with them. Offer them the benefit of the doubt and offer extended payment plans or something similar. Have Us Pull a Credit Report For You Some businesses can be a problem before you even start working with them. A great way to identify them is to pull a credit report on them. Credit reports give you the information you need to decide whether someone will be an issue to collect from or not. Utilize us or not; you have to do something to prevent any problems during an already challenging time. What to Do If Your Clients Are Asking You To Cancel The Contract One of the more common occurrences during these tough times is your clients asking to cancel the contract. Feel free to accept the “termination” of the contract but never the “voiding” of the contract. Wording matters here as the termination of a contract protects you while voiding it removes every safeguard you have in that contract. Voiding a contract means that it never existed in the first place. Key Takeaways ● You need to move quickly and turn up the heat. Whatever cash they had is going to start drying up, and a credit will be much tougher to get moving forward. ● If your debtor didn’t pay you yet, that just means that you weren’t a high enough priority for them when they had the cash. ● Letting your client constantly rewrite your contract's terms means that you’re punching holes into your contract until it isn’t valid anymore. ● It’s like politics. If you say it, it has its own life

    Monday Morning Memo: Why Job-Specific Contracts Are Not Good For Collection Issues

    Play Episode Listen Later Aug 25, 2020 9:54


    Job-specific contracts may seem like a great advantage to have. It is a great way to organize the contracts that you have. However, it might not be great if you have to collect your fees for several reasons. This concern is especially true for staffing and recruiting companies. You might be surprised that job-specific contracts are never a good idea in the staffing and recruiting industry as you can corner yourself and have a much harder time to collect your fees. Why Job Specific Contracts Are Not Good For Collection Issues Job-specific contracts can be a significant concern for staffing companies because of how you can corner yourself when you have to collect. We’ve had a client where they used a job-specific contract, and it was a miracle that we managed to collect a 50% settlement for them. So we’re going to explore the main reason job-specific contracts are a significant concern for you and why you shouldn’t use them. Multi-Skilled Individuals Could Be a Concern The big problem you could run into when you have a job-specific contract is if your candidate has more skills than hiring them out for. The vast majority of job-specific contracts don’t have any protection regarding a candidate being hired for any position other than the job-specific contract. If they are hired for any position other than what’s in the contract, then you might have a difficult time collecting your fee. You might not even be able to collect your fee because the courts throw out the case as it is unenforceable. Check Your Contracts For Any Mistakes Before Using a Job Specific Contract If you’re intent on making use of a job-specific contract, you must double-check the contract’s contents. You cannot imagine just how many copy and pasted contracts we’ve seen where one paragraph tells a different story from the next, and courts throw the case out because it’s unenforceable. You end up losing the court case before it even starts. Wilson’s all-time favorite example of this is a case where the party that was responsible for all disputes was the Better Business Bureau. In their contract, our client gave authority to someone who has no authority so they could not sue. It was at the sole discretion of the Better Business Bureau, which made their contract unenforceable. Key Takeaways ● If it takes our client 2 or 3 years to find a backdoor hire, guess what? Stats of limitation says you no longer have a debt. ● The clock really starts when you find out about it. We’ve seen it go both ways. ● Know what you’re putting in your contract. ● This is one of the times where it’s better to be a generalist than a specialist. Don’t make it job-specific.

    Monday Morning Memo: The Third Warning Sign Is Like A Category 3 Hurricane, You Need To Be Prepared

    Play Episode Listen Later Aug 18, 2020 12:37


    Preparation is essential in the staffing and recruiting business. If you’re caught unprepared, then you might end up in trouble. Clients going out of business is one of these problems that you’re going to have to face. Luckily for you, there are always warning signs. The third warning sign that a client is going out of business is your wakeup call, and you need to be prepared for it. What You Need To Know About The Third Warning Sign The third warning sign is when you start realizing that you might have a significant problem on your hands. It is usually when a client is 60 to 90 days overdue. They’ve made promises and a few phone calls or have gone completely silent. You must know everything to know about this warning sign to increase your chances of a successful collection. You Have Limited Time Once clients are 60 to 90 days overdue, you have a limited window to collect what they owe. They still can pay you, but with each passing day, they start to lose the ability to do so slowly. Their credit lines are drying up, and you’re not the only creditor that they owe. The worst part is that staffing and recruiting businesses are 3rd tier debt, which means that you’re at the bottom of the priority list. Credit Card Payments Are Risky Getting paid through a credit card is not an ideal solution for collecting a debt. Visa and MasterCard are not your friends when it comes to collecting. Credit card money is one of the riskiest methods of getting paid because credit card companies can shift the bill over to you and reverse the payment. Lawsuits Will Take An Extended Period One of your options to collect payment from your debtor is to have your attorney file a lawsuit against them. It can be an effective way of collecting. However, it can take a long time before the case can get to a judge. Usually, it takes 9 to 12 months to get through the system into a judge’s hands. However, with COVID having a profound effect on the court systems, you could be waiting over three years before it reaches a judge. Final Thoughts Being prepared for a hurricane is essential to keep your home or business from taking any damage. The same can be said of clients that are going out of business. Like an incoming hurricane, there are several warning signs before you get into trouble. The third warning sign that a client is in trouble is comparable to a category 3 hurricane. You must be prepared for it; otherwise, you might find yourself in trouble. Key Takeaways - Visa and Mastercard are not your friend. If they are reversing that charge, they are probably behind on these payments. They can shift that bill over to you and reverse the payment when they get into trouble. - “I have a credit card and I’m safe” that is about the riskiest money you can accept. I’ll tell you how risky it is: we will not take a credit card payment on ANY debt. - I cannot tell you how many times we have had clients damage their case at the 120 day mark. Use use, don’t us, I just don’t want you to do anything that will damage your case. - When clients go over 90 to 120 days, understand that you have just opened this Pandora’s box of possibilities and you’ve got a 71% chance of getting paid at 90 days and a 21% at 12 months without having to sue them

    Monday Morning Memo: Why All Business Should Apply For The Small Business Administration Economic Injury Disaster Loans

    Play Episode Listen Later Aug 11, 2020 14:00


    Due to today's unstable economic climate, one thing you can expect is that your business may struggle. Many reasons can cause these problems, but the end is almost always the same. Either your business survives to see another day, or you don't. This is why you should take every advantage you can get. One of these is the Small Business Administration Economic Injury Disaster Loans. What The Small Business Administration Economic Injury Disaster Loans Can Do For You Personal Guarantees and Security Interests Have Been Waived Personal guarantees can be a significant issue for business owners. If your business goes bankrupt and you signed a personal guarantee for a loan, you are still liable to pay for the loan despite the business no longer existing. In essence, you are a co-signer to your business in that situation. However, personal guarantees and security interests used in the Economic Injury Disaster Loan are now completely waived thanks to an act of congress. Think about that. The government is removing the personal guarantee part of a $200,000 loan. This means that if you do go out of business, and you still haven't paid back the loan. The government can't file a lien on any of your personal belongings. All Idle Loans Like the EIDLs Are 30 Year Payouts One of the most significant issues with getting an SBA loan for most people is that you do not have enough time to pay it back. This can be a cause for concern if you're taking a regular SBA loan. A regular SBA loan will need you to pay within 7 to 10 years, depending on the loan. However, idle loans like the Economic Injury Disaster Loan can be paid within 30 years. That's 3 times as long as a standard loan. It Can Go Through at Lightning Speed at a Miniscule Interest Rate When you get a regular loan from the SBA, you typically have to go through a dozen hoops to get the loan. The interest rates for most standard SBA loans also reach up to 8%. This is not the case for the Economic Injury Disaster Loan as we've had clients who have taken this loan, and the process has gone at lightning speed. The interest rates are also more than half the standard at 3.75% Key Takeaways ● When people think SBA loans, they think, "oh my god, it's going to be a pain, it's going to take four months, and it's death by a thousand cuts. Not true with these idle ones. ● If they weren't waiving the personal guarantees, it would still be a great deal. But the fact that they're waiving the personal guarantees is just amazing. ● Never in the history of business has small businesses been in a position to borrow those sums of money with those kinds of terms

    Monday Morning Memo: The Third Warning Sign Is A Real Tipping Point

    Play Episode Listen Later Aug 4, 2020 12:38


    When a business is at risk, there will always be five warning signs. However, the third warning sign can be a real tipping point. This situation is when an account is 60 to 90 days past due. It is critical, and speed is of the essence if you want to collect your owed fees. What You Should Know About The Third Warning Sign Seeing the third warning sign is a significant cause for concern for collecting from a company. However, if you’re not convinced of the urgency of the situation, we urge you to keep reading so you have an idea of what you can expect if you let the account stand idle for a little while longer. You, Will, Start Seeing A Dramatic Difficulty Increase When It Comes to Collecting from a Client Who is Displaying the Third Warning Sign The third warning sign typically consists of an account being 60 to 90 days past due. At this point, you usually have a 71% chance to get your fees. However, if you leave it for another 30 to 45 days, you can expect a dramatic increase in difficulty to collect for several reasons. Your chance to collect from the company in question is cut in half if you leave it for 30 days. Bankruptcy is Very Likely After This Point Once you start seeing a company reach this point, you’re very likely to hear rumblings of bankruptcy. Rumors of bankruptcy are not a good sign for you because of the high likelihood that you’re not going to be able to collect. Especially since staffing and recruiting are considered third tier debt, and you’re almost always the last to get paid. We’ve had a client sit on a problem account for 120 days that we managed to collect from because it was staffing related, and there were angles we could follow on. However, if that same case were recruiting fees, it’s done until it makes its way through bankruptcy courts. Bankruptcy Courts Can Take Years To Get To You Bankruptcy courts are usually an 18-month process. However, the pandemic is currently stopping bankruptcy courts from holding hearings, and it can take a while before they start up again. You could be looking at 3 years just waiting for you to be able to collect that fee. By that point, the company that you’re dealing with could be gone entirely. Conclusion The third warning sign is a massive red alert for any staffing and recruiting company looking to collect. It is also one of your last opportunities to collect from a company. Whether you do it by utilizing our services or with your favorite attorney, you have to make sure you do something before it’s too late. Key Takeaways ● People are still having issues, bankruptcy is still being filed but what's happening right now is that everything is getting bogged down. ● Make sure your documentation is in order because judges, to clear their calendar, will start using default and summary judgments more aggressively. ● Statistically, if someone is telling you “hey I’ll pay you in 6 months” at that point you have to do something. Use us, don’t use us, doesn’t matter you HAVE to do something.

    Monday Morning Memo: The First Warning Sign That Your Client Could Be A Collection Issue And What You Should Do In This COVID Economic Environment

    Play Episode Listen Later Jul 21, 2020 9:50


    Collecting from your clients can be a tedious process at times. However, there are early warning signs that you could pick up that could help you find out who exactly is going to be a bigger problem than the rest. We’re going to explore the first warning sign that your client could be a potential collection issue in the future. The First Warning Sign Before you have just absolute chaos is that you start seeing your clients moving a bit further out. It doesn’t matter whether they were a good or bad client, you just see them start making payments later and later. They start running behind on payments and. When they used to pay at 15 days, they started paying at 30 to 45 days out. What was true six months ago, could be absolutely nothing further from the truth right now. Your business is certainly experiencing COVID right now and so are your clients. They could be fighting some significant cash flow issues that could get you in trouble as well. Wilson’s Recommendation The unstable economic climate created by COVID should be your signal to start making preparations. You should already have your timesheets, and your fee agreements in order, and you should start doing credit checks on your clients. Credit checks, in particular, can be a very powerful tool for you to utilize as it lets you make sure you know what to expect from them moving forward. Samantha’s Recommendation One of the best things you could do right now is to make sure that you have all your paperwork in order from the get-go. It isn’t when they are already 45 days isn’t the time to realize that you don’t have a signed contract with them. Keeping up with correspondence can also be a valuable asset for you. For example, when you receive an email telling you that they’re going to pay next week, you should make sure to keep that email. It makes it much harder for them to get out of paying you in case you have to go down the legal route. This is called a reaffirmation of debt that lets you back them into a corner in case they refuse to pay. Key Takeaways - Right now because the economy is fighting COVID it is more critically important right now than it ever has been to focus on good fundamentals and to pay attention to the warning signs. - In my opinion, you should have had, especially during this COVID economic climate, you need to make sure you have your timesheets, your fee agreements, pull your credit checks and credit applications, and things along those lines. Those should have already been done.

    Monday Morning Memo: What The Covid Slow Down Means To You And Credit and Collection

    Play Episode Listen Later Jul 14, 2020 11:36


    One of the major problems that we face right now is the impact of the Covid slowdown. Especially when it comes to credit and collections. Today, Wilson and Samantha Cole explore the effect of Covid on these two vital aspects of the staffing and recruiting industry. The Effect of the Covid Slow Down on You, Credit and Collections Wilson and Samantha Cole will be exploring the deeper implications of Covid’s effect on business in today’s Monday Morning Memo. Former Credit Risks are a Much Larger Risk Now You’re not the only one affected by the Covid slow down, your clients are too. Companies and businesses that you have been dealing with over the last few months are a much larger risk than they ever have been. This is especially true if they have been a problem account since last year of December or early January of this year. One recommendation that Wilson wants you to do is to pull new credit reports as it gives you insight on the risk of a company. Back Door Hires Become a Much More Common Occurrence Another big problem that occurs during the Covid slowdown is how common back door hires become. This is why you need to make sure you constantly keep track of your candidates. One moment a company contacts you that they’re going to wait until they onboard the candidate before paying you. All of a sudden, you’re going to find out six or seven months later that they’ve gone full circle and hired the candidate behind your back and cut you out of your fee. The Legal Aspect of Business is the Wild West Right Now Covid’s effects extend towards its effect on the legal side of things. As Wilson puts it, “it’s the wild wild west out there right now. Getting the service of process or hitting someone with a lawsuit right now has been insanely hard with Covid hampering the processes needed for it. These problems are different from state to state, which makes things even more difficult to deal with as some states have adapted new measures while others have not while court dates are simultaneously being postponed at rapid speed. Main Takeaways ● Regardless of whether you believe it is the black plague of the 20th century or its the biggest hoax, no one can deny that it has affected business. ● If I had to make one recommendation for any of our staffing clients is pull new credit reports because companies that have been in wonderful shape might not be today. ● If you sue somebody and they are an educated debtor they’ll just say “ you can go ahead and sue me but you and I both know that it’s going to be six months before they can even get the courts up to start the process. ● Get connected. Don’t let your paperwork fall to the wayside in trying to get the deal done.

    Monday Morning Memo: What Happens If You Owe Another Invoices And You Cannot Pay

    Play Episode Listen Later Jul 7, 2020 14:27


    invoices monday morning memo
    Monday Morning Memo: The Top Excuses So Far From The 2020 Slowdown

    Play Episode Listen Later Jun 23, 2020 14:40


    Recessions can be a large part of running a business because of how it affects your own business and your clients. We've seen a rise in the number of times our client's debtors have made excuses as to why they can't pay their debts. The Top Debtor Excuses So Far in The 2020 Slowdown Going into a recession, you can expect a few things to happen. But the main concern for the staffing and recruiting industry is how recessions can cause their debtors to become more aggressive and have all kinds of ridiculous excuses. We've listed down just some of the worst offenders when it comes to excuses that have come straight out of the left field. "Our Plant in Wuhan and Along With Our Office in New York City are Shuttered" This is one of the cases where you may think it would be near impossible to collect on. However, we were able to collect from this company, and our client has received 75% of what they are owed. It is certainly possible to get things done even in this business climate we're in right now. "We're Not Paying for This Temp Because There Were Too Many Occasions Where She Was Parking and Making Out In The Employee Parking Lot" This may seem like a sensitive topic to discuss. But according to the debtor, the temp was enjoying her time at the office parking lot too often. "We're Not Going to Pay It Because Your Client Did Not Send Over What We Deem as a Resume" This case certainly has some legitimacy. However, by dictionary definition, the client did send a resume, and it met all the requirements to be called a resume. What sealed the case was that the debtor previously sent a message thanking our client for presenting a "wonderful resume." Final Takeaways If there is one thing that needs to be learned in these cases, you must be careful about what you say to your debtor, especially their attorney. If an attorney contacts you, you should be ready to kill all communications until you have your attorney speaking for you. This is because they will use their authority to trick you into saying something that will damage your case. Quotes -Going into a recession, a couple of things would happen. And one of them is that the debtors become a little more aggressive and the excuses come from left field. I mean they're not based in reality in any form or fashion. -If you say "Wilson I don't think we can collect this because of the pandemic", we have literally collected from a company located in New York with a plant in Wuhan. It can be done. -If the attorney calls you, you need to kill all communication because attorneys will try to use their title, their aura and they'll just feed this horrible line of cr*p that's not based on reality or fact. -We're probably going to have six more months of pretty interesting stuff. And it will get bad. They will get much more bizarre and they will become much more aggressive with their delivery before this is over.

    Monday Morning Memo: Three Virtual Things That We Did That Improve Our Systems That Staffing Firms Need To Do As Well

    Play Episode Listen Later Jun 19, 2020 14:09


    Adams, Evens, and Ross and Back Door Hire Solutions have been undergoing a few great virtual changes that have helped us improve our systems. Today Wilson and Samantha share some of the best changes that we’ve made that you should also be using. Using E-Checks One of the things that we’ve been using to receive payments from our clients was FedEx. Our FedEx bills were a fortune and we’ve been able to save $1000 to $1,500 each month from FedEx fees since we started using E-Checks. Using it is simple when compared to paying for services normally because all you have to do is go to a specific website, enter your details and hit send. The receiver will then just be able to print out the check where they are and it doesn’t have to go through the same hassle as a regular check. We use E-checks to pay for the various services we pay for and also allow our clients to pay using E-checks because it is just that much more convenient for everyone involved. It's also speeding up our cash flow and as we all know, the lifeblood of a business is it’s cash flow. E-Documents and E-signatures Another great improvement that we’ve been utilizing is migrating some documents over to the electronic side of things. One example are contracts. However, many of you may start freaking out because you think that a signature on virtual media isn’t going to hold up like a signature on a piece of paper will. That’s where you’re wrong. According to Samantha digital signatures are legally the same as their paper counterparts with the exception of the transfer of property and a will. That fear is misplaced because of how e-signatures can actually be better than a paper signature. For starters it’s digital which means that it is nearly impossible to lose, easier to maintain and sort, while also providing an extra layer of protection. In the case of E-sign which we use, that extra layer of protection comes in the form of a third page which has the date, time and IP address of the computer that was used to sign the document. We’ve had one case where a client explained that the document was a forgery. However, the third page of the E-sign document showed us that the document was signed at 2am in their home office. Building on The Systems To Facilitate Remote Business One thing that covid has taught us is that there is a need to accelerate moving certain aspects of business to a remote model. A remote system allows you to speed up your cash flow because it doesn’t need to go through the hassle of your regular business practices. However, the only way you can have an effective remote business is to have a system in place that will help you facilitate it. We’ve cut down on the systems that needed someone coming into our offices to give us a check and it has greatly increased our cash flow. Quotes - It’s pretty spectacular, e-checks have saved us thousands of dollars and clients are telling me to send them e-check links. - Everybody wants to freak out when it’s not paper. I think it’s more fear of change than anything else. A signature on E-sign and one on a piece of paper are legally the same. - We probably sound like a broken record, but the basic fact is: you give up about 40% of the probability of getting the balance collected if you don’t have a signed agreement.

    Monday Morning Memo: Why Recruiters May Not Have To Refund The Full Amount If The Candidate Was Terminated?

    Play Episode Listen Later Apr 7, 2020 14:16


    In today’s business climate, the coronavirus has had a profound effect on company staffing. Recently there have been mass layoffs of employees from various companies and the staffing and recruiting industry is feeling the effects. Mass refund requests being one of those effects. What Options Do You Have To Not Pay The Full Refund Amount? It can be difficult to figure out options that you have when you have clients that want a refund. Since you and your client most likely have a legally binding contract, you are legally bound to pay that refund unless you consider some of the options that Wilson and Samantha discussed. Try To Get Rid of Your Money Back Guarantee In today’s business climate, you have to make sure that you try to get rid of your money back guarantee. A large number of your clients will want to try and save or recover as much money as they can. Even more so if they have to conduct mass layoffs. Your business will be put at risk if your money back guarantee permits your clients to simply get their money back if they lay off a candidate. If you do intend to provide refunds, make sure that it isn’t prorated. Create a Resolution Between You and Your Client If you are obligated to conduct a refund on a previous client, then it is best if you don’t ignore it. This is because of how they can sue you for ignoring your pre-existing contract. A great alternative to providing them a refund is to work things out with them and try to come up with a different solution. An example would be offering them credit on a future search once they’re hiring again. If It’s a Client You Don’t Want to Salvage... If it’s a client that you don’t want to salvage or cannot afford to salvage, then try to minimize your debt. Try to find loopholes that you can use to turn the argument around. An example that Samantha gave during the interview was that the client had to give them the opportunity to replace the laid off individual before a refund would be possible. Contact Wilson Cole Another option that you have is to call Wilson to help you get your debt lowered or even entirely avoided. You can contact him at 800-452-5287 extension 6578 or you can also send him an email at wilson@aercollections.com. Over the next few weeks AER Collections will also have a number of programs to help you out during these times of crisis so stay tuned for those. Quotes: - The ones that just make me kind of chills go down my spine or the ones “no questions asked”. If they don't work out: refund. You're basically turning into some sort of weird payday loan - I've never seen a business climate like what we got in and that is people are going back trying to almost do a pseudo bankruptcy clawback period where they can go back - Let this be a warning sign. Use risk reversal. I understand risk reversal but money-back guarantee is not risk reversal that's that's just not good business in my opinion

    Monday Morning Memo: How To Work Remotely And Still Be Effective

    Play Episode Listen Later Mar 31, 2020 18:58


    Working remotely is something many companies have started doing in this time of crisis because of the pandemic sweeping the globe. So in today's Monday Morning Memo, Wilson and Samantha tackle the problems and benefits of working remotely. Making Remote Work Effective and Efficient Made Simple Remote work can be difficult for many people to adjust. However, it is a necessary thing to do in today's climate because many businesses will opt to go for remote work rather than fully closing their doors. So Wilson and Samantha both share their perspective and provide advice for remote working. Have a Dedicated Workspace According to Samantha, a great way to make remote work more effective is to make sure that you have a dedicated workspace. Separate it from the rest of the places in your home and only go there when you're about to work. A dedicated workspace lets you have the mindset of work while you're in that specific space. It doesn't have to be a full-blown office either. It can be a chair in the dining room that nobody uses or even the left side of your couch opposite the side where you watch your TV shows. Just make sure that you dedicate that space to work. Have a Dedicated Time To Decompress on Your Schedule Another thing that you should be doing is to make sure that you dedicate some time to decompress after work. Dedicating some time to decompress is one of the most important things to do, especially if you're not used to working remotely. Unwinding lets you mentally reset for the day and gets you ready for tomorrow's work. Make sure to have a schedule and a routine ready, so you can keep your work going despite working remotely. Use The Right Tools For The Job Wilson emphasized the need for the right tools when doing remote work. This is because, without some of these tools, it would be far more difficult to work remotely effectively. This includes landline tools like RingCentral and Zoom or staff monitoring software like Hubstaff that let you keep an eye on what your employees are doing. According to Wilson, it is also much easier to manage people remotely rather than in an office setting because you can see if work is being done rather than if someone is busy. Connect on a Human Level One of the things Wilson and Samantha touched on is how important it is to keep the personal and social connection with staff intact despite working remotely. It isn't easy to find out things that may be bothering your workers in a remote setting unless you set aside some time for them to share their inner thoughts and what could be bothering them. This is the hardest thing to do from a logistics standpoint Quotes: -The arguments are always "if my people work at home they won't work" and I can tell you from a control freak that is not the truth -it's easier for me to manage people with all of us in remote because you can see if work is getting done versus seeing somebody busy -We had a higher turnover rate, and we started extending out those meetings, and we saw our turnover almost go non-existent because everybody started getting those connections - I mean you're talking to a guy that owned a two-story office building where everybody came in you know for a decade or longer. I look at that now as a horrible utilization of assets -Just work and then life don't try to merge them, don't try work from in front of the TV. Try to keep it as separate as possible so that you don't turn in to work all the time or you aren't working at all

    Greatest Of All Time Interview Series: Wilson Interviews Gordon Bizar

    Play Episode Listen Later Mar 26, 2020 45:56


    In today’s Greatest of All Time Interview Series, Wilson Cole, president of Adams, Evens, and Ross interviews Gordon Bizar regarding the pandemic and the inevitable slow down of the economy. Wilson has worked with Gordon for many years and he is considered Wilson’s mentor for 20 years. He has insight into many different industries, and a wealth of experience from the many different cycles over the years. Gordon Bizar, Wilson’s Mentor for 20 Years How Does Gordon See This Playing Out? Gordon mentioned that nobody knows what’s happening at the moment regarding the economy. Many people have lost nearly a third of their wealth within a week, with a number of others conserving cash as much as possible. This is common according to Gordon, but it’s far more accentuated. He also mentioned that the government has to do a delicate balancing act between human welfare and keeping the economy from crashing. They both have different demands. Human welfare demands that the curve has to be extended, the economy on the other hand wants everyone to get it over with quickly. The reason why the economy needs this quickly taken care of is because there is a breaking point before businesses will start failing. Most businesses will be able to survive a few weeks. However, once it reaches into the territory of three to six months, then you’re going to start seeing a number of businesses failing. Many of these are small businesses which employ 70-80% of the United State’s workforce. If a recovery were to happen earlier then the recovery will be a V-shape. Any later, and it will become a U-shape where recovery will take far longer. How Do The Industries and Business Owners When To Hold on and When To Gas and Break Gordon said that there is no magic answer to that and the best thing you can do is monitor the situation. Gordon also says that it is pointless to be selfish in this situation. If you don’t work together, then no one can win. He has opened up programs that are normally just for paying members to the public to help everyone. One other thing to take note of is that many baby boomer business owners are considering selling off their companies. They face two options: either restructure their companies or they’re going to let it go. What Kind of Ending Advice Can You Give, and How Can You Get the Right Information While Turning the Noise Off? According to Gordon, businesses need an “agnostic” approach to get their information. Using standard media for information is not the best way because of how their agenda is centered around getting an audience instead of providing accurate information. Instead you have to deal directly with people in the businesses. This lets you see the real picture and see it accurately. Do for yourself what the government can’t do for us and what we can’t get the media to do for us. If you’re a small business then you’re on your own, so you have to work together with everyone else to create a meaningful strategy with the information everyone has. Gordon’s advice for this situation is to keep an eye on the two factors that were previously mentioned. The first is “how do you protect people’s health in life?” and second is “how do you shorten the destructive period of the economy?. How Do You Contact Gordon Bizar and Join His Webinars? You can contact Gordon Bizar by joining his free webinars. Do this by clicking on the following link that will redirect you to his site: http://www.aercollections.com/Gordon

    Monday Morning Memo: What You Need To Know About Credit & Collections In A Downturn, Then The Recovery

    Play Episode Listen Later Mar 26, 2020 19:52


    In today’s Monday Morning memo Wilson and Samantha tackle a pressing topic caused by the ongoing pandemic. This is what you need to know about credit and collections during a downturn followed by what you need to do during the recovery of the economy. What You Need To Know About Credit and Collections In a Downturn Downturns happen every once in a while due to certain events. In this case, it’s a global pandemic that is forcing many to shut their doors. It’s weakening the economy and many won’t survive after this is all over. This means that many staffing and recruiting companies will begin to face problems once their clients stop paying their fees. Wilson and Samantha share what they know about credit and collections in a downturn while also exploring what you can do during the recovery period. Get That Contract Signed We cannot stress this enough. Get all of your contracts signed. It may not be impossible to collect if you don’t have a contract signed, however it makes it infinitely more difficult to do so. Signatures take away all the risk and ambiguity in business as it makes sure everyone signs off on the same things. This makes sure you’re in a strong position and ready to counter any arguments that may come from your clients. Categorize Your Clients You’re going to have clients of varying sizes and you should make sure to categorize them. Large publicly traded and regional companies are the ones who are more likely to pay you during this time. On the other hand, you need to keep an eye on smaller businesses. Small businesses in America have five hundred or fewer employees at any given time. They are also the least likely of the three categories to follow through with a payment. This is because their circumstances can change as their credit lines dry up. Make sure that you set credit lines based off of credit worthiness instead of your client’s needs. This helps you be more defensive and avoid non-paying client problems. Set Up Systems that Speed Up Cash Flow One of the things Wilson recommends to speed up the cash flow is to make sure that you avoid using the term “net ten days or thirty days” as well as “due upon receipt”. Instead, put in a specific date to make sure your clients know when they should pay their dues. Another great way to improve your cash flow is to use friendly reminders. Recovery Tips for The First Two Months A great way to spend the downtime during the recession is to make sure you audit all of your paperwork. Audit your existing agreements, forms, and pull credit on all the existing clients to get the most out of your first month. In the second month, you should be getting everything in order, and spend time on projects you have been putting off. Make sure that you’ve set up credit lines, and have the signed agreements ready to go. Set up a system of ongoing client checks. The key is to not be abusive but you want to be aggressive on these things. Recovery Tips for The Third and Fourth Months The next three and four months are crucial for you to get ahead during the recovery period. One of the ways to get paid during this period is to become a secured creditor and by using personal guarantees. Becoming a secured creditor and using a UCC puts you in the best position to get paid. It’s similar to a mortgage and the first person or company to file for it is usually in the best position to receive payments from the company in question. Another solution is to set up systems that speed up your cash flow and make it efficient and automatic. Set it up on autopilot so to speak. The key here is speed and the faster you can get things done, the higher your chances that you’ll come out on top. However, you should also watch each step you take and avoid being sloppy about your paperwork. Quotes -With the background that we have right now getting the signature is in my opinion one of utmost importance. It eliminates any confusion and put you in a much stronger position -you want to set credit lines based on the credit worthiness of the client versus their needs. You need to have a system in place. -I can't stress enough if they've been paying their bills poorly for the last 10 to 12 months those are the companies that are not going to survive -Don't go rush full speed ahead to try to print, try to regain the time you lost and get sloppy about paperwork. That's gonna be key -We’re in uncharted territories you need to make sure that there's no ambiguity to your contract

    Monday Morning Memo: Most Courts Are Shutting Down For The Corona Virus But The Next Part Even Shocked Us

    Play Episode Listen Later Mar 17, 2020 10:57


    Monday Morning Memo | Most Courts Are Shutting Down For The Corona Virus But The Next Part Even Shocked Us Courts handle many legal disputes regardless of reason. But what happens when a worldwide pandemic shuts down our court systems? Coronavirus Impact On The Court System and You As of the writing of this article, the Supreme Court has been shut down. Not just that, several aspects of the federal government could follow suit. This is a major problem if you’re still owed fees from a debtor. So we’re going to break things down in this article so you’re prepared to handle what follows in the next 30 days after the courts have begun to shut down. Court Proceedings Have Been Halted for 30 Days, Possibly Longer What this means for everyone is that if you have a case against someone within the next week or so, expect the hearing to be in five weeks or more. This also affects updates with collections as you’ll have to wait an additional four weeks before you can get that update. Everything has been put in frozen animation. It’s as if they’re halting the calendar as if it doesn’t exist. Sue Someone Later Not Now We highly recommend that you put off suing someone. This is mainly because of how courts have closed their doors but also because of how an attorney will still charge you for their services even if nothing is going to happen until way later. In this case it’s going to be thirty days or more. Weaker Companies Won’t Survive The Downturn According to Wilson, if a company was having trouble before the pandemic, they’re going to be struggling even more now. Some of them may not even survive to open their doors after the thirty day court shut down. This is similar to 9/11 but in slow motion, and you’re going to see a number of already struggling companies not make it. Bankruptcy Courts and The Ninety Day Stay Bankruptcy courts have also been hit with closures. What this means is that the ninety day stay period has also been paused. This means that the previous wait of ninety days to six months is now extended to over a year. Prediction for The Future? According to Samantha, she predicts that the courts could end up closed for as long as sixty days and resume very basic operations by then. The only situation where this won’t be the case and courts can open earlier is if a cure for the coronavirus comes out soon. Everyone could end up feeling the after effects of the pandemic for the next eighteen to twenty four months. A backlog of cases will also be an issue for the courts to handle. The Silver Lining One thing that Wilson touched on is that it isn’t just doom and gloom for some businesses. The storm will be weathered and when you come out the other side, you’ll be in a much better position. This is because of how some of your weaker competitors will be out of the picture. Quotes -It’s 9/11 in slow motion, so you're gonna see companies that were in trouble not make It - Stay calm and all of that good stuff and these storms weather through and when you make it out the other side you'll be in much better position because some of your weaker competitors won't be there

    Monday Morning Memo: The Staffing & Recruiting Recession Check List

    Play Episode Listen Later Mar 10, 2020 14:06


    Recessions can be sudden and one day you could walk into work and suddenly you just notice a slow down. This could mean that a recession is happening. In today’s Monday Morning Memo, Wilson and Samantha go over what staffing and recruiting companies need to do during a recession to ensure that you can weather the storm and come out the other side on top. Telltale Signs That a Recession Is Happening One of the things that Wilson touched on regarding recessions are the telltale signs that one could be happening right now. These include a dramatic increase in back door hires, your best debtors are running behind, and your less than wonderful debtors start trying to conserve cash by stretching out their payments. As of the writing of this article none of these signs have shown themselves yet. With that being said, there is still time to prepare a checklist to ensure that you can weather the storm of a recession. Wilson’s Recession Checklist Now that you know the telltale signs that we might be in a recession, now you have to know what you need to do during the recession. Wilson explained from his viewpoint what you need to do to survive and even thrive during a recession. You Need a Way To Track Your Candidates Being able to track your candidates puts you in a strong position to also find back door hires. One of the things you’re going to see during a recession is not only the huge surge in backdoor hires, but also a large surge of employees getting laid off before you can find them. This makes it important to be able to find them before that happens. Maintain and Set Credit Lines Most of our clients tend to extend their credit lines based on what their clients need. Avoid doing this as some clients can be a wonderful $5000 credit risk but a horrible $50000 credit risk. Check your client’s credit and set your credit lines based on their creditworthiness. Have a System To Follow Up With Past Due Clients The next thing on the checklist is making sure that you have a way to follow up on past due clients. You want to remind your clients that they owe you debt. A great example is having an automated three phase email that will be sent to debtors that are overdue. Make sure that this system is automated and not people dependent as well. Samantha’s Recession Checklist Samantha also has her own recession checklist. From a legal standpoint, she shared that everything that you used to do is far more important during this time. Have You Documentation In Order Having the right documentation during a recession is all the more important. Make sure that you have a signed contract. Also look into getting a personal guarantee as it gives you that little bit of extra protection. Know Who You’re Dealing With One of the things that can happen during a recession is corporations could simply shut down and reopen. If one of these corporations is your debtor and they reopen their doors after the recession, you need to make sure you know who exactly you’re dealing with. Quotes - We see a huge surge in backdoor hires. I mean just off the Richter scale. If we're getting five backdoor hires a week we walk in and we're seeing 20 in a week. I mean it's literally a 3 to 400% increase. - Finding one or two backdoor hires during a recession could mean twenty-five to fifty thousand dollars to you which could help absorb any shrinkage that you see or at least get a cash injection to ride out the storm - If they can put a hundred thousand dollars of their payroll over on your staffing that's great that's a new client for you, but understand you're now exposed. - The primary reason that corporations exist is to shield individuals from personal liability. If you have a debt ridden company they can shut that down, open up a new corporation and not owe you a dime without a personal guarantee

    Monday Morning Memo: The Reason Why I Want You To ID The Job To Your Candidate In An Email

    Play Episode Listen Later Mar 3, 2020 14:14


    Emails are a great tool in the modern life of businesses. It helps you get information out and receive information back. This is especially true when it comes to the staffing and recruiting business, where communication and information are assets that need to be utilized. But did you know that it can also help you catch a lying debtor? Why You Should ID The Job to Your Candidate Through Email You might be wondering how email can help you catch a lying debtor and give you the leverage you need to win a lawsuit if it ever comes to that point. The answer is simple. Emails help you document information between parties reliably. On today’s Monday Morning Memo, Wilson and Samantha explored exactly why you should ID the job to your candidate through email. Legal Wording Isn’t Completely Necessary According to Wilson, the legal wording isn’t really what he’s concerned about when it comes to emails being sent. He’s concerned about the psychology of it and how it can affect the outcome of you collecting your owed dues. Legal wording isn’t as important as the fact that you have documentation that you presented the job to the candidate. It Works Like a Twelve Month Possessory Period Another key use of emails is that it works similarly to a twelve month possessory period. This is because you lose containment of the candidate once you let them know who the hiring company is. This can make it more difficult for you to get your owed placement fees. It’s More Reliable Than Phone Calls and Text Messages Most staffing and recruiting agencies rely heavily on phone calls to contact their clients and candidates. However, there are problems with this when it comes to properly documenting conversations. One of these are laws in between states. For example, Georgia is a one party state where just one party needs to know that the call is being recorded. On the other hand, California is a two party state that requires all parties to be aware of the call being recorded. Emails bypasses this as it’s considered a written statement and can be more easily used when it comes to getting your owed fees. It Sends Your Debtor’s Attorney Into Defense The most important part of having an email that's related to the case, is that you have solid evidence. You can present this to your debtor’s attorney and they’ll suddenly realize that they’re being lied to by their client. This means that they can’t use anything that’s been fabricated to defend their client. This puts them on defense and it makes it easier for you to win a case, and pressure the debtor to pay you before it has to go to court. Quotes - It's not really legal wording that I'm really that concerned about - Make sure that you've got the something to show that these conversations happened

    Monday Morning Memo: 5 Things You Should Never Say To A Debtor

    Play Episode Listen Later Feb 18, 2020 7:42


    There are a number of things that should and shouldn’t be said when you’re dealing with your debtor. Especially since your words can have a few consequences that you may not be expecting. But what exactly should you not be saying when dealing with your debtor? What You Should Never Say to a Debtor Words are the strongest tool in the world of contracts and agreements. What you say, can and will be held against you. In today’s Monday Morning Memo, Wilson and Samantha explored what you should never say to a debtor if you want to get the best outcome. 5. Don’t Go in The Heat of The Moment If They Tell You That They Aren’t Going to Pay You Don't go in the heat of the moment when they say they're not gonna pay you and tell them that you're gonna go make them a source, and tell everybody on social media what a deadbeat they are. This only makes things worse and will affect how your clients will view you. And you could also become the target of a defamation lawsuit 4. Don’t Issue Refunds or Negotiate Trade Credits or the Like Refunds and credits are tricky to properly manage when it comes to the staffing and recruiting industry. Replacements are fine but once you get into refunds and credits it can start getting messy. Or as Samantha would put it, a forensic accounting nightmare if the refund or credit isn’t structured properly. 3. Don’t Write Void All Over Your Contract Once you write void all over your contract you are negating any safeguard you may have. Anybody that you have presented anybody has worked there as a temp they now have carte blanche to go ahead and absorb them onto their payroll so don't put void. 2. Don’t Tell Your Debtor That the Service Will Be Free An example of this is the recent settlement that Samantha managed to get with a case. The client sent a message to the debtor basically saying “ “we know that you already have John Smith's resume so we know that we the recruiter cannot take credit however we would like to bring them to your attention”. They essentially said that this client was free. Luckily Samantha managed to salvage the case and got their fee. However, make sure that you avoid sending emails like this to your debtors to avoid any misunderstandings. 1. Never Say “Don’t Pay Me” In Your Frustration If you’re an emotional person, try not to let your emotions get the better of you and say “don’t pay me” to your debtor. They will take this literally and will use this against you when you go after them later on. You’ll never be able to get your funds collected if you say this, so keep calm and think of another approach. Quotes - It's got to be structured properly or it turns into a forensic accounting nightmare. - Once you write void all over your contract you are negating any safeguar

    Monday Morning Memo: The Billion Dollar Problem That Recruiters Did Not Know They Even Have

    Play Episode Listen Later Feb 11, 2020 10:15


    Problems are abundant when it comes to the staffing and recruiting industry. They come in different shapes and forms and many of them can easily be spotted. However, there is one billion dollar problem that many recruiters didn’t even know they have. This is called back door hires. Everybody knows that backdoor hires happen but they don't recognize it when it happens to them. This is called the billion dollar problem as many staffing and recruiting companies lose out on a large sum of money because of back door hires. But what exactly is this billion dollar problem and what can you do about it? Understanding The Billion Dollar Problem Many clients don't realize that they're owed when a debtor tells them that they find somebody that's worked or they say “gee we don't know you for this backdoor for this placement because we already knew the candidate”. This is a very common excuse that will be used and you’re assured that Back Door Hires will collect 80% of the time. There are a number of ways you can make it easier though and that’s to have a possessory period, and to make sure that your contract is consistent. Have a Possessory Period Every staffing and recruiting company will want to have a possessory period in their contracts. This ensures that they’ll be able to hold their clients liable to pay for their services. This includes even if the candidate was supposedly hired by another staffing and recruiting company. With this in place you’re almost always guaranteed to get your fee even if it means your client will have to pay both staffing and recruiting companies for their services. Keep Your Contract’s Possessory Period and Other Details Consistent To have a solid contract you’re going to want everything to be consistent. The possessory period included. You could have a clause that protects you 110% but another clause mentions that you don’t owe them a fee if they did this or that. These consistency problems can cripple your contract. If your contract is not solid and there are a number of inconsistencies then it might be rendered invalid. This makes it much more difficult to get the fee that you’re owed and you might not even get it depending on how bad your contract is structured. If They Make Excuses, Shut Up and Call Us The one thing that we recommend whenever they say “hey there was another recruiter we're not gonna pay you” or “we already knew the candidate, we’re not gonna pay you” or anything in between, is to shut up and call us. This may sound blunt, but it’s the truth. Whatever you say can and will be held against you once you come to collect. Whatever happens, cease all communications with the offending company and get the people that need to be involved, involved. Get us involved and get your attorney involved so you have the best chance of collecting your owed fee. Quotes - Everybody knows that backdoor hires happen but they don't recognize it when it happens to them -If you have inconsistencies in your contract then it becomes much more problematic because the contract can be deemed invalid

    shut up billion dollar recruiters quotes everybody monday morning memo
    A Greatest Of All Time Interview Series: Wilson Cole Interviews Bert Miller

    Play Episode Listen Later Feb 6, 2020 30:14


    In today’s Greatest of All Time Interview Series, Wilson Cole, president of Adams, Evens, and Ross interviews Bert Miller, a legend in the staffing and recruiting industry. He has been a long time franchise office owner of MRI and he’s recently acquired MRI corporate. Bert Miller, Legend of The Staffing and Recruiting Industry How Did Bert Start His Journey in The Staffing and Recruiting Industry? Bert started off by showing his appreciation for having a great childhood. His parents were a great part of who he is today. They pulled him in to have greater opportunities for the future. This led him to MRI’s doorstep where he was trained. He was trained by a host of great mentors that Bert is truly grateful for. Today, Bert has acquired MRI corporate and has a number of great ideas for MRI as a whole. What Makes a Great Recruiter? According to Bert, you could line up five or so hopefuls who have the basics down and have the skills to succeed. However, only two of them will ever become a great success. It doesn’t matter how good they are or how many calls they can make in a day. What matters is that they have a certain amount of grit and endurance that will let them overcome the challenges that face them. Grit and endurance is the right energy and passion according to Bert. He also mentioned the late Kobe Bryant’s Mamba mentality. This is where you must have the hunger to succeed. It’s focusing on the process and trusting the hard work when it truly matters. What Does a Recruiter Need to Be Doing Right Now To Take Advantage of An Excelling Economy? Bert recommends using an advisory. An advisory encompasses a number of things. It can be town analytics, helping your clients create branding for themselves and many others. This creates connectivity between you and your clients. Bert also mentions how the changing technology is causing friction within the industry. They’re “killing it” but it doesn’t feel the same as it was back in the early 2000s and it’s because of how digital technology is shifting the industry. This means that you need to adjust and become a better storyteller through video broadcasts or podcasts and truly connect with your audience. What is Your Vision For MRI Bert mentions that many people and groups confuse MRI as their competition. They aren’t competition when it comes to the staffing and recruiting industry, mainly because of how they don’t make any placements, and they don’t do any searches. Instead they aim to provide the best tools, services and training to their “supposed” competition. One example is their Thrive program which allows independent firms that don’t know where to go, thrive. Quotes: -What kind of stands out to me is endurance, it’s the right energy and passion -We used to tell a story by phone. Now you gotta be able to tell the story through video through podcasting and really connect with your audience -They may love me, they may like me. Whatever the case may be but I have to go deliver. -Let's embrace the fact of what occurred, let's embrace it. Let's understand the situation and let's build solutions

    Monday Morning Memo: Why We Cannot Bypass A Debtors Attorney And Why Suit May Be Your Only Option

    Play Episode Listen Later Jan 29, 2020 12:45


    Lawsuits are a common occurrence whenever money is involved. This is especially true when it comes to the staffing and recruiting industry. One day you’re just going through your day when suddenly you find out that one of your clients refuses to pay you. At that point, you have one of two options. You can either give up and close the case, or you can throw a lawsuit their way. Why Not Bypass Their Attorney? You might think that it can be a simple matter to just storm their front doors and demand payment from them. Or you could consider giving us their contact details and have us storm the front for you. However, you have to remember the legal aspect of the case, especially if your client has an attorney defending them. By law, you cannot go around a defendant’s attorney and everything has to go through him, as he is the representative of the defendant. You always have the right to an attorney in any case, and if you ask your attorney to go around your client’s attorney, then it’s like a massive slap in the face. The bar will shut you down and it is one of the biggest side steps outside of stealing money you can make as an attorney according to Samantha. Why A Suit May Be Your Only Option Lawsuits are considered a last resort by many. And most of the time it is not even needed. Back Door Hires can collect around 80% of the cases without ever needing to sue. However, some clients will be stubborn and refuse to pay what’s due and they’re going to need some encouragement in the form of a lawsuit. Most of the time, it is necessary to sue them as they might not even be paying attention in the first place. They’re simply ignoring you and a lawsuit in their faces will get them back into paying attention to the matter at hand. You also have to remember that you’re not the only one who has to pay when the case does reach the court. You can expect upwards of ten thousand dollars in attorney fees from a single case alongside the time investment involved. Do note that they might not even win the case and they’ll be forced to pay you and their attorney fees. With a lawsuit, they’ll end up thinking whether it’s worth going to court for a twenty thousand dollar fee where they have a chance to lose and they’re going to lose even more money than they would have if they decided to pay instead. Our Best Advice Our best advice at the moment is to just shut up and get someone else involved. Having someone else get involved in your case doesn’t mean you’ve thrown in the towel. It means you’re ready to take them to court and collect the debt. It forces them to produce documents that they would otherwise not produce and it gets them moving before they can cover their tracks. You should also do your best to provide every single piece of evidence to the third party collections agency you hire. Yes, some of these documents might not help your case. However, this helps them create a defense and offense around those documents. If those documents suddenly turn up in the middle of a case, then you and your attorney will be caught off guard and will have a harder time defending your claims.

    Monday Morning Memo: The 5 Things All Staffing & Recruiting Firms Need To Do To Start The Year Off Strong

    Play Episode Listen Later Jan 12, 2020 7:48


    With the end of the year here, creating a checklist or house cleaning is normal. This also applies to the staffing and recruiting industry because of how much money you’ll be able to save if you follow these five things that all staffing and recruiting firms need to do to start the year off strong. The Five Steps to A Strong Start To A New Year Not everything is going to be easy and starting off the new year in the staffing and recruiting industry is one of them. Wilson and Samantha Cole’s podcast details the best ways someone in the industry can push forward and succeed in the new year. Recheck Your Credit Rechecking someone’s credit is essential to early success. You may have checked one person’s credit several months ago, but you’re assured that there are possibly many more than that over the last ten years you’ve been in business. Make sure that they’re still in good credit standing and are still a viable entity before doing business with them. Confirm You Have the Paperwork Needless to say that having the paperwork is important regardless of what you’re after. Make sure that you have the signed agreements if you are the one doing the staffing. This lets you catch problems before they even rear their ugly heads. Sequential Follow Ups or Emails For Your AR These sequential follow ups or emails are great for a number of reasons. The first is that it reminds your clients that they still owe you, or they still need to do something for you. The second is that it reminds them that they can’t put it off or they can risk getting sued. Make one for fourteen days behind, twenty five days behind and finally one at thirty five days behind to remind people that they’re behind schedule. Make Sure that People That Signed Your Contracts are Still Working There This might sound strange, as contracts are still valid even if the person you dealt with is no longer working at the company you dealt with. Despite this, having a point of contact in the company you’re interested in is a vital asset that you can use. This is because if that person is no longer working there, the company can make excuses that they haven’t dealt with you before. Get Updated Contracts Checking and updating contracts is a great way to start the year off strong. Do some spring cleaning and add in or take out things from your contract. If the person you’ve been dealing with at a company decides to part ways with them, then try to get a new updated contract.This is especially true if it was a personal guarantee from a CFO who has parted ways with the company. Cleaning up your contracts is an excellent way to life easier for you in the long run. Quotes - Having a point of contact in the company you’re interested in is a vital asset that you can use - Do some spring cleaning and add in or take out things from your contract

    recruiting cfo cleaning make sure staffing firms five steps year off samantha cole quotes having monday morning memo
    Greatest Of All Time Interviews Series: Wilson Cole Interviews Tom Erb

    Play Episode Listen Later Jan 12, 2020 24:08


    In today’s Greatest of All Time Interview Series, Wilson Cole, president of Adams, Evens, and Ross interviews Tom Erb. Tom Erb has been in the industry for nearly 25 years, while working with the biggest staffing and recruiting agencies. He’s been at numerous conferences in the tradeshow circuit and loves nothing more than to give back to the staffing and recruiting industry. Tom Erb, The Man Who Gives Back To The Staffing and Recruiting Industry How Did Tom Get Into The Staffing and Recruiting Industry? Tom got his undergrad degree in Business Administration but had trouble finding a job. He decided to help out a friend who landed a job in Columbus, Ohio. He then proceeded to apply for several jobs at the Columbus Dispatch where he got an interviewer job at Olsten Staffing. What Personality Characteristics Makes a Good Recruiter? Tom and his team went ahead and did a personality assessment regarding the qualities of a good recruiter. This assessment was to determine what makes an A player recruiter. They came up with seven competencies, but the following stood out to them in particular Perseverance “It's the ability to to push on past adversity. It's you know some people call it grit you know it's it's that ability to do that.” Unflappable “Things don't rattle recruiters. You know high-level high-performing recruiters just aren't rattled by things as much because this is very much an up-and-down kind of industry. You just go on to some of the recruiting forums on Facebook and LinkedIn and read the ups and downs that people have sometimes in the same day and to be able to get past that and continue on is very important.” Connecting With Others “It's the ability to connect at a level to where people develop a level of trust with you to where they keep wanting to come back to you to where they refer people to you and you're able to ultimately develop this robust network especially when you're talking about search and specialized search the ones that are really really successful develop a robust network of Connections” What Piece of Advice Would You Give to a Newbie Coming Into This Industry? Tom advises newbies to avoid becoming generalists as there is a talent shortage. They should be looking for an opportunity to specialize, but not too specialized because if a downturn in your specialization happens then you could be in trouble. You have to be broad enough to avoid these downturns, but specialized enough that it creates extra value for you and gives you the ability to create your own network. What Advice Would You Give the Seasoned Pro That's Been Doing This For 20 Years? To the seasoned veterans, Tom’s advice is to adapt to the changes that are happening in the industry. Things are changing rapidly across the world and not just the staffing and recruiting industry. This means that everyone has to be fresh and open-minded to these changes. Pros really need to take a look at the way that people communicate. What Advice Would You Give Companies to Afraid of a Recession? “Be aggressive during recessions” is Tom’s advice for companies that are fearing for their business during a recession. During the 2008-2009 recession, Tom and his team refused to “batten down the hatches” and hide in a corner like other companies. Instead they refused to let the recession bring them down and they increased their efforts to beat the slowdown caused by it How Can You Contact Tom Erb Yourself? You can contact Tom yourself through either his email at tomerb@resources.com, or Tallan Resources website at tallannresources.com. Quotes - I do enjoy trying to get people to improve themselves - We need to be willing to adapt to it or we're going to fall behind

    Greatest Of All Time Interviews Series: Wilson Cole Interviews Barbara Bruno

    Play Episode Listen Later Jan 12, 2020 29:21


    In today’s Greatest of All Time Series, we’re joined by none other than Barbara Bruno. She is someone who’s been in the staffing and recruiting industry for quite awhile and is an expert in her field. We invited Barbara over to answer some of the biggest questions on the back of every recruiter’s minds Barbara Bruno, The Staffing and Recruiting Expert What Are The Three Attributes of a Good Recruiter Integrity Integrity lets you build strong relationships with both candidates and clients. You can thrive in the industry without it, but your career is going to be short lived because of it. Listening Well The best recruiters are the best listeners and they don’t talk as much as they listen. The best recruiters key in to what’s important to people. This lets them use that knowledge to their advantage and be able to respond better to the client or candidate’s specific needs. Able to Think on Their Feet Being a good recruiter means being adaptable to the situation. Since there are two people on either side, you can expect that situations and priorities change constantly. If you can’t think on the fly then you’re dead in the water as things blow up constantly. What Would be The Three Pieces of Advice You Would Give to New Recruiters or Inexperienced? Know your Job They think they're supposed to interview candidates or write orders or give contracts when in essence our job very simply is to get candidates in front of hiring authorities and so if I'm talking to a new person what I tell them is your job is to book a send out Focus on Send Outs To have that first interview you've got to have a dividable order. If they do nothing more than constantly increase the number of send outs they book every month, they will elevate their production because everybody has to send out to fill or send out to placement ratio. You know once they're doing this three to six months they know that ratio and if they say the ratio is 5 to 1 if they send five more people up they make another placement and so you've got to know your numbers but I would tell them to focus on send outs. Plan If you think that you can’t plan every phone call, then think again. Barbara’s advice is to write down the six priorities you have closest to the money for the following day and ten calls. And then the following month you know six things closer to the money in 20 calls until you get to the point where you're handling the six priorities you have every day and you commit to doing those things What advice would you give that 20-year recruiter that's sitting around saying I know everything Barbara suggests that you shouldn’t forget that you’re the resource and the tools you get are just simply tools to help them. The greatest shift is happening where more than 50% of their clients are going to be millenials and most of the tenured recruiters blame the millennials for everything. They have to shift what they’re doing in their business or they’re going to end up dead in the water. What Does Someone have to Do Right Now to Recession Proof That Business? They can't have one client represent more than ten percent of their income. Have a broader client base. They can't have one client represent more than ten percent of their income, which is the biggest mistake. 2008 to 2010 many companies call Barbara going “oh my God I'm losing my business” and in almost every instance they made 75% of the revenue from less than five clients when these five clients went hiring they were dead in the water. Make your clients your friends and don’t just be a vendor You know so many times they view us as one of many and so I think you go from vendor to trusted advisor to consultant and then you've got to make your client your friend. You've got to become part of their life because if a recession hits and they can only use one resource and you've become the best listener in their life. Have more than one contact in a company The clients of the staffing and recruiting are changing more than ever and so often you've got one contact they leave and now you lose the client. So its great if you have more than just one contact in your client’s company. How Can You Get In Touch With Barbara Bruno Yourself The best way for anyone to contact Barbara herself is to call her at her number at 2196639609 or you can go to her website at https://goodasgoldtraining.com/. Quotes - Don’t just be a vendor, be their friend. - The best recruiters key in to what’s important to people.

    Monday Morning Memo: Why You Are Wrong If You Think Your Client Does Not Owe You For A Medical Placement

    Play Episode Listen Later Dec 17, 2019 8:26


    It’s shocking to know that many staffing and recruiting companies simply give up when it comes to trying to collect the debts of certain clients. These clients throw out a number of excuses that make the company doubt that they can get money off of the transaction. But there are a number of solutions that you can do to avoid these kinds of situations. What You Can Do About It There are many cases where staffing and recruiting companies think that their client doesn’t owe them a dime. Usually this is the case when the client says that there is another staffing and recruiting company that is involved. Don’t take this at face value and follow these steps that Wilson and Samantha Cole have shared on their last Monday Morning Memo. Know That There is Always a Solution You need to dig a little below the surface before throwing in the towel when it comes to collecting these debts. The usual excuse being that there was another recruiter involved. But is there really another recruiter? This is just one of the things that you can use to collect the debt that you’re owed. Have a Possessory Period The possessory period lets you take advantage of your contract when it comes to collecting from the client. Have a Contract Signed, Just One if Possible Having a contract signed is one of the key components of being able to defend yourself legally if anything goes wrong. But having more than one can be quite the cluster as you won’t know which one will apply in your specific situation. A single contract is much easier to manage when compared to something like a dueling contract where both parties will have a contract each. Dueling contracts can be very confusing as you might think that a candidate is covered in your terms but in reality its covered by their terms and vice versa. Name Clearing or Clearance Let the candidate notify you whether he or she has been in active discussion within 24 to 72 hours. Make sure that you are notified within the last 60 days of when he was last been in active discussion to have an edge when it comes to collecting. Final Thoughts If somebody hires your candidate and they tell you “gee we got their name we knew about them you know we're not going to pay you” don't take that at face value. Their excuses can be easily dismissed if you take a good look. Don’t just sit there and let tens of thousands of dollars slip through the cracks. Contact Wilson Cole at 8452 5287 extension 6578 or you can also shoot him an email at wilson@aercollections.com Quotes - Dig just a little below the surface. - They got the candidate from somebody else but there was nobody else.

    clients medical solution placement dueling samantha cole contract signed monday morning memo
    Greatest of All Time Interviews Series: Wilson Cole Interviews Danny Cahill

    Play Episode Listen Later Dec 12, 2019 34:21


    Danny Cahill went straight to recruiting from out of college, was a general manager at 26/27, he bought Hobson Associates and grew it into one of the largest recruiting firms. He was even elected into the Knapp’s hall of fame. He is a true renaissance man he is an author he is a playwright, he has a recent book called Aging Disgracefully. We’ve talked to him regarding his thoughts on the recruiting industry and he answered some questions itching at the back of our minds. Danny Cahill, The Greatest of All Time in The Recruiting Industry How Did Danny Get Into The Recruiting Industry? Danny was asked how exactly he got into the recruiting industry at first, whether he wanted to become a recruiter or he just stumbled into the business. Turns out, he stumbled into the business unknowingly as he was hired with no Idea what he was going to be doing. How Did Danny Get Into Training Aspiring Recruiters At first, Danny had not intentions of becoming a recruiter. He didn’t even know what trainers were. He even thought that the trainers were “hucksters” who used a lot of sales gimmickry. He was astonished at the fact that the boss was running a “boiler room” operation that hired five wide recruits and then firing four of them a month. He was used as an example for the recruits where the boss says “Here’s 24 year old Danny who’s making a quarter of a million dollars, you could be the next”. This didn’t sit well with Danny and by the second year, requested the boss to let him teach the recruits despite not knowing much about training. However, his guts has helped him become the greatest of all time in the recruiting industry. What Advice Would Danny Give a New Recruiter? The business has evolved, according to Danny and that 15 years ago, the norm was to just make as many cold business calls as possible. Today, if you do that, you’ll end up failing. So, it takes a much longer time to ramp up compared to the old days where it took you 4 to 6 weeks to ramp up. Today it takes 4 to 6 months. This business has become systems engineering as it is social engineering and you have to learn everything from phone skills to internet skills. What Advice Would Danny Give a Seasoned Recruiter Danny mentions how combine all the channels of communication to succeed. Thanks to business evolving and people getting stuck in their old ways, seasoned recruiters refuse to use or utilize the new tools. These tools can help them make twice as much money with much less effort. Truth is, if you stick with one branch of recruiting and it goes under, you’re going to be in a lot of trouble. What Are The Biggest Challenges Over The Next Five Years? Many people think that the biggest challenge is artificial intelligence or new technology. However, Danny thinks that these are more of an advantage as most of the time, the recruiters have more skill and finesse when using these tools to their advantage. The biggest challenge according to Danny is the combination of these technologies and the company mentality that goes with hiring recruiters from a recruiting company. They give the hired recruiter a corporate salary as opposed to their commissions, which makes it cheaper for the companies but hurts the recruiting industry. The recessions are also a cause for concern as they can hit from out of nowhere. They could also go one of two ways. Either business will be booming for people like Danny or it could end up going poorly for the recruiting business. We can't recommend it enough to go out and contact Danny because you know as Danny mentioned everything that I have been told. With people that have gone through it is it’s not a theory, it’s practicality and it does get results. Quotes - That’s the fantastic thing about youth. You dive in, you make it work. - Work smarter and not necessarily harder.

    Monday Morning Memo: The Top 5 Things Medical Staffing Recruiting Firms Need To Do BEFORE They Look For Back Door Hires

    Play Episode Listen Later Dec 10, 2019 16:19


    Staffing and Recruiting is a business that is mired with a multitude of problems. Back door hires being one of them. However, Medical Staffing and Recruiting firms have even more risks attached to them because of the nature of the business. What Makes Medical Staffing and Recruiting Different? You might be wondering what makes it so unique when compared to other staffing and recruitment branches. The main thing that makes it so unique is the fact that a medical business can quickly and easily change hands. This includes hospitals, rehab centers or nursing centers or anything in between. This is a huge risk in the industry as the changing of management can easily leave you out in the rain. How? By making sure that after the new management takes control, you’re no longer a partner to that specific hospital, rehab center or nursing center. We have seen cases where the old management paid, cases where the new management paid, and many cases where the old and new management is pointing fingers at each other. There have even been cases where the company filed for bankruptcy and did an asset sale. This means that you won’t be paid what you’re owed by the previous management unless you have a very good setup before the changing of hands happened. What You Can Do About it It can be difficult to get paid after the changing of hands has happened. So the best thing you can do is prepare for it. Here are several options that you have when dealing with cases like these. Make Sure The Parent Company Signs the Contract Authority is important when it comes to upholding a contract. It won’t matter much if it’s the staff of the medical institution that signed your contract. However, if the parent company of the institution signed it, then you now have a leg up on the case. They can make excuses like “it’s the company that we’re selling that you dealt with” however, you can easily respond with “No, it’s you who we dealt with, it says right here on the contract that YOU signed”. Use The Wording Of Your Contract To Your Advantage Contracts are binding obligations for the companies that sign it. So it only makes sense that you make sure that the client you’re dealing with is aware of what their obligation to you is. You can do this by using a specific type of wording that suits your needs. One type of wording that works well for the medical staffing and recruiting industry is to be notified in writing of any sales that are going to happen. This early warning gives you enough time to react. Another great option is to have a UCC1 or Cross Corporate Guarantee. These documents will back up your claims when it comes to getting paid before a transfer or foreclosure. The cross corporate guarantee, in particular, is a good document to have because you can still go after the original company after the institution is sold off to another. Become a Secured Creditor Becoming a secured creditor doesn’t guarantee that you’ll get paid at the end of the day. But you do have an interest in the company. If it’s a seizure where they’re taking it over but they’re selling to another company, you’ve got to be paid before they can sell it off. The only exception is if it’s some type of foreclosing accident. However, becoming a secured creditor under the noses of the company can get you sued in some cases. A great way to do this is to use a specific wording that permits you to be a secured creditor of the company. So even if they do try to sue you, you have signed proof that they accepted your terms to be a secured creditor. If you want to talk to me about a collection issue that you got. Call 10045287 I'm at extension 6578 or shoot me an email at Wilson@aercollections.com and my assistant will get you on my calendar. Quotes -Our staffing and recruiting clients all have a risk but medical staffing and recruiting firms have a specific risk because these facilities change hands under new management companies just quite a bit. -If they fail to notify in writing then you know everybody’s responsible.

    Monday Morning Memo: The Top Reasons Why Medical Staffing Recruiting Firms Have To Be More Careful When It Comes To Their A.R. And Contracts

    Play Episode Listen Later Dec 3, 2019 16:53


    Going out of business is a fear for most businesses and their clients. If you’re someone who’s had a client go out of business, leaving you without payment, then this is the post for you! The Subtlety of Bankruptcy Bankruptcy can be a very subtle process. One moment you’re receiving regular payments like clockwork from a client, the next they’ve started delaying their payments by several weeks. This is the first sign that there has been a hiccup. They can make up excuses like “gee we have a new billing clerk”, or “gee we were waiting for funds to come in from ABC company that owed us”. Eventually, the excuses will just stop coming because they’ve gone under and filed for bankruptcy. Know Who You’re Dealing With to Protect Yourself As sudden as bankruptcy can come, there are always warning signs before you’re hit with the consequences. So what can you do to make sure you’re prepared for the incoming storm that it will inevitably kick up? Your biggest priority is to know who you’re dealing with. We cannot stress enough how important it is to ensure that you know who you’re dealing with. This is especially apparent with franchises. There have been many cases where we’ve dealt with clients that had no idea who the local entity was. You can’t just go around and sue every restaurant with the same name, as each might have the same brand, but they don’t necessarily have the same legal entity governing them. A great way to find out who they are is to go to the secretary of state to get that info. However, you’re going to need to make sure you know what LLC their apart of. Otherwise, you’re going to pull up more than a hundred different DBAs from different businesses with the same name, in various counties. A great asset to figuring out who you’re dealing with is to have a credit application signed. It holds all the information you’re going to need if you ever need to pursue a case against a former client. Alongside the secretary of state, the credit application can help seal the deal when it comes to ensuring you’ve got the right tools to win a case. What Are Half Related Entities and How Do They Affect You? Half related entities can be summed up as various companies or groups working under a single banner. These can be anything from corporations with their various divisions or LLCs with their various companies. They can be tricky to work with as they can easily exploit the wording in your contracts with them. For example, you’re presenting candidates to ABC company who has XYZ company as one of its divisions. XYZ company can scoop up those clients from under your nose and neither of the companies are obliged to pay you a fee if you don’t use specific wording in your contract. You can avoid this by having the words “related entities” or “affiliates” in your contracts. This legally binds the company you’re dealing with to pay a fee if any of their divisions or affiliates hire your candidates. With many companies going under without prior notice, leaving their former partners with a financial burden and a net loss, it can be a challenge recognizing the initial signs. However, with the right knowledge, tools, and awareness you’ll be able to effectively safeguard your interests and assets. To learn more about AER resources related to back door hires, visit https://www.backdoorhires.com/ or call Wilson Cole at 800-452-5287, extension 6578. Quotes -The trick is to catch bankruptcy before it gets to that point -If you’re a staffing firm, get a credit application signed because you need to realize you’re not providing staffing, you’re loaning money.

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