Task Force Payments in the Hospitality Sector
I’m launching a recruitment business focused on the hospitality industry, and I have a chance to provide interim, contract task force managers to facilities that require assistance.
I’m seeking advice on how to handle fees for these roles with the properties.
Should I have the property send their payments directly to me, which I would then distribute to the contract managers?
Or is it more common for the property to pay the contract managers directly and then pay me a fee for my recruitment services?
I would appreciate any insights from those with experience in this area!
Thanks,
Jonathan
RCadmin
Hi Jonathan,
Congratulations on starting your recruiting business for the hospitality industry! When it comes to discussing fees for providing interim task force managers, there are a couple of common approaches you can consider:
Direct Payment Model: In this model, the property pays you a fee upfront for securing and placing the task force managers. You would then handle the payment to the contract managers. This approach often simplifies the process for the property and allows you to manage the logistics of payment directly.
Split Payment Model: In this scenario, the property would pay the contract managers directly for their services, and then you would invoice the property for your sourcing or placement fee. This can make the financial transaction more straightforward from the property’s perspective since they are already familiar with their payment processes.
Considerations:
– Clarity: Whichever method you choose, ensure that both you and the property have clear agreements about payment terms, responsibilities, and timelines. It’s crucial to outline how fees will be calculated and when they are due.
– Market Standards: Research standard practices in your niche of the hospitality industry to determine what clients expect and are willing to agree to.
– Flexibility: Sometimes clients may prefer one method over the other. Being flexible and open to negotiation can help foster a positive working relationship.
If you have existing contacts, you might also reach out to them to see what has typically worked for them in similar situations.
Best of luck with your new venture!
Best,
[Your Name]