What is the cost of Change Exchange and what are the payment terms?

Change Exchange is free for employers. Recruitment agencies associated with Change Exchange are charged on a monthly basis or pay 20% commission on each placement fee. This is how we provide a free platform for employers.
The employer is however required to pay the recruitment agency that fills in the job position. However, if an employer does not hire a candidate, the employer does not need to pay anything.
The fee set by you will be sent to you in the form of invoice from our side on the candidate’s start date. We maintain a 30-day payment set-up. We have a Client Trust Account where we hold your fee for a 30 day duration. After 30 days, the fee is passed on to the recruitment agency that provided you the potential candidate for the vacancy.

We “qualify” for every vacancy. What does this mean?

When you advertise a job vacancy on the Change Exchange platform, a Relationship Manager is dedicated to you and will call you to retrieve details about your requirements for potential candidate(s). The purpose of the process is to understand your requirements in detail to develop a clear picture for your recruitment agencies to find best suitable candidate for you.
We request you to set aside five minutes when our Relationship Manager calls you, as this call is worthwhile investment and will prevent agencies from asking you the same questions several times.

What should be the placement fee that I set for a vacancy?

If you are trying Change-Exchange for the first time, you are recommended to set the fee broadly equal to what you would pay to the agencies outside of the Change Exchange platform. For instance, if you would pay 12 to 15% fee to any other agency or outside resource, you can set the same with Change Exchange. If you still have questions or concerns, you can call our Relationship Manager to seek answers to your questions. You can call us on: 0203 904 0890 for any ambiguities regarding the placement fee procedure.

Can I set a minimum fee?

Yes, the minimum fee is £1500. We maintain this minimum fees to keep an active and engaging process from out recruitment agency community. If we do not maintain this minimum fees, recruitment agencies will not find any interest in conducting business with Change Exchange and searching for potential candidate for employer. If you still have queries regarding minimum fee requirement, you can call us on 0203 904 0890 to clear your concerns.

Can I know more about the Terms of Business and rebate policy

The terms of business covers all parties including you, the recruitment agency and Change Exchange. We maintain a universal and transparent terms of business.
We have a 60 day no quibble rebate policy for employers. Under this policy, if a candidate does not work for you, you get a 100% refund of your fee during the first 45 days and a 50% refund case a candidate leaves or is found unsuitable between 46 to 60 days.
In case you have further queries about terms of business, or any ambiguity you can call us at 0203 904 0890 or email us at our official email address.

Are all the recruitment agencies able to see my vacancy along with contact details?

No, this is certainly not the case. You have the choice to allow the recruitment agency to view the vacancy and full job details along with your contact details
When a job post is uploaded by an employer to the marketplace, only limited information is visible to agencies including; job title, location, salary and sector. The details of employer are kept anonymous.

How do we evaluate recruitment agencies regarding their quality?

Whenever a recruiter wishes to join us, we speak to them about their process and polices to gain insight about their work. We assess the recruiting company’s information and if we do not find any ambiguity, errors or negative aspects we usually let them work with us.
The next step involves approval process for an agency. After the approval of an agency, its performance is tracked by our team at Change-Exchange and we see how many jobs they are currently working, how many CV’s they have submitted, how many candidate from their agencies get a job and other similar aspects.