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Workforce finance provider APositive has released a new recruitment payment product, targeted towards brokers.
APositive has rolled out its broker recruit now, pay later (BRNPL) product, marketed as alleviating cash-flow constraints by deferring immediate recruitment costs.
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The offering functions by allowing an upfront recruitment fee to be paid in three monthly instalments with a flat interest rate of 3.6 per cent.
It will be exclusively available through the commercial finance platform, Lend.
According to APositive chief executive Danny Marlow, with Australia’s unemployment rate falling below 5 per cent for the first time in more than a decade, “finding good people to boost business growth is a massive challenge at the moment, and broking is no exception”.
“Not surprisingly, in this context, the requirement for the right person in the right role is one of the primary metrics for business stability and growth,” Mr Marlow continued.
“This correlates with an uplift in demand for recruiters to source the ideal placement. That said, the primary block of utilising an outsourced specialist is the upfront cost associated with the traditional recruitment model.
“Our goal is that the BRNPL product will help brokers expand their business by freeing up working capital, as well as save time and increase confidence that the position will be filled with a quality candidate, quickly.”
Lend head of third party Donelle Brooks added: “The fallout [of the pandemic] has been quite polarising. While the pandemic has clearly been devastating for many businesses, it’s important to equally recognise that it’s been the springboard for innovation and has significantly escalated opportunity.
“People from all walks of life have been released from the shackles of incumbent thinking and expectations, environments and work practices.
“This has been exacerbated by the mainstream acceptance of the work-from-home or hybrid model, plus the ‘spotlight’ that’s been placed on business operations, efficiencies and gaps.
“As such, many businesses have been reconfigured, roles reassessed, and operations stress-tested and often restructured.”
The introduction of this BRNPL product follows APositive’s small business-focused recruit now, pay later product, APay, which launched in 2018.
[Related: Lend expands asset finance panel]
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