LBG Payment Terms

[Bluebird]

anybody know if LBG have changed payment terms?

I worked through them 3 times and always been paid weekly via the agency, new agency for my 4th stint and they only pay monthly nearly 3 weeks after the ned of month - so roughly 6 weeks in arrears.

Cheers

Bluebird

[ELBBUBKUNPS]

anybody know if LBG have changed payment terms?

I worked through them 3 times and always been paid weekly via the agency, new agency for my 4th stint and they only pay monthly nearly 3 weeks after the ned of month - so roughly 6 weeks in arrears.

Cheers

Bluebird

Urrmm surely the issue here is the agency payment terms and not LBG ? All the others agents who paid you weekly were most likely paying you before they got the £ from LBG.

[Bluebird]

Urrmm surely the issue here is the agency payment terms and not LBG ? All the others agents who paid you weekly were most likely paying you before they got the £ from LBG.

Thats what I want to fnd out.

If in the past LBG have paid agency X on a weekly basis and then paid me weekly then thats fine.

If LBG now pay agency Y on a monthly basis, I can understand their stance, however if LBG pay agency Y on a weekly basis and agency Y are just keeping the money for a paltry amount of interest them I'm not happy.

As you said, other agencies pay weekly for LBG contracters, why cant this new agency pay that way unless LBG have changed their T&Cs with all agencies....

[TestMangler]

Thats what I want to fnd out.

If in the past LBG have paid agency X on a weekly basis and then paid me weekly then thats fine.

If LBG now pay agency Y on a monthly basis, I can understand their stance, however if LBG pay agency Y on a weekly basis and agency Y are just keeping the money for a paltry amount of interest them I'm not happy.

As you said, other agencies pay weekly for LBG contracters, why cant this new agency pay that way unless LBG have changed their T&Cs with all agencies....

It's the agency that is driving this. Which one of the Hyphen second tier list are you talking to ?

[Bluebird]

It's the agency that is driving this. Which one of the Hyphen second tier list are you talking to ?

Sandersons

[TestMangler]

Sandersons

Never even heard of 'em mate. In the good old days when Hays were single suppliers, you were getting paid in 5 days, weekly.

Project Partners seem to be the quickest of the Hyphen second tier lot and that is paying for the previous month on the 14th, so effectively you're extending them six weeks, although you're actually only waiting 2 weeks from invoice submission.

[Bluebird]

Never even heard of 'em mate. In the good old days when Hays were single suppliers, you were getting paid in 5 days, weekly.

Project Partners seem to be the quickest of the Hyphen second tier lot and that is paying for the previous month on the 14th, so effectively you're extending them six weeks, although you're actually only waiting 2 weeks from invoice submission.

yes, when I was with Hays & Reed [ only about 6 months ago ] it was invoice Friday, paid the following Friday.

[TestMangler]

yes, when I was with Hays & Reed [ only about 6 months ago ] it was invoice Friday, paid the following Friday.

Hays not even on the second tier I'm afraid. The corporate account manager who used to deal with HBOS is a good friend of mine, so always found out about any roles etc there.

Now it's a bit more difficult to circumvent their 'procedure' to get a Cv on the desk of a hiring manager, even one you know personally

Always loved Hays/Hudson etc for the complete lack of obstacles in their payment systems. Contracts are another matter with them though.....

[ELBBUBKUNPS]

I know a few at LBG at the moment and no one is having there invoiced paid weekly. I've got a mate who works at one of the big agents and he was saying a few weeks back that no one really does weekly anymore and they had moved from weekly to monthly.

The agent you mention Ive never heard of so sounds small so may be they are waiting for LBG to pay them, to be honest though if Im invoicing monthly I'm only really happy to wait a week from invoice to payment, your more likely to get this if you ask then weekly.

[alluvial]

Sandersons

That's Sanderson's (part of RSG) standard payment terms. I was through them at a different place and that is how I got paid and they won't budge from it.

How the agent pays you quite often has nothing to do with how they are getting paid. They will pay you when all the invoices have been authorised so they are pretty sure they will get paid but it is possible that they may be on three monthly payment terms with the client and so are acting as payment factors for you.
In LBG, Hyphen handle all the timesheets and invoices and the whole system is built around a monthly cycle. I did manage to negotiate weekly payment terms with the agent for my last stint there but it caused no end of problems with the Hyphen system and the agent's systems and I was forever on the phone trying to get paid. In hindsight, it would have been easier to go with the monthly billing cycle.