Guide to Creating and Managing a Preferred Supplier List
What's in the guide
This guide is intended to provide you with details of the key items you should consider when creating and managing a preferred supplier list (‘PSL’) for umbrella and/or limited company providers. We will talk through the commercial considerations for setting up a PSL and discuss some frequently asked questions from recruiters about creating a PSL.
- What is a ‘PSL’
- What are the benefits
- How many suppliers can you reasonably work with
- How you select the suppliers you intend to short-list
- How long will the list be in place for?
- Considering your commercial terms
- Managing the list
- Frequently Asked Questions
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About preferred supplier lists
Over the last few years, the recruitment industry has seen new regulations being introduced to protect the candidates being placed and the clients engaging with recruiters for their services. This, in turn, has required recruiters to ensure the businesses they work with are aligned with their own values; they comply with the legislation in the same way and they provide the standard of service they require their candidates/clients to receive.
Due to the volume of umbrella companies and specialist accountancy providers in the market, recruiters need to carefully select business with whom they are comfortable to work with. Recruiters will receive a large volume of calls from providers selling their services which will distract them from placing candidates and earning commission. Having a PSL in place will help to close these calls quickly and efficiently.
Since 1995, we’ve provided accountancy, tax and support services to over 90,000 contractors, freelancers and self-employed professionals - it’s what we specialise in and it means we’ve been able to develop a unique service that is innovative, friendly and easy to use.
At Brookson we appreciate the value recruitment agencies bring to the UK’s flexible workforce and with this in mind, we’ve invested a great deal of time and resource into building strong, scalable relationships and solutions for agencies across all sectors. Whether you wish to outsource your payroll to an umbrella company or give your flexible workers the option of working via their own limited company, we can help you achieve this in a compliant, efficient way.
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