a. Numeric On-Costs
We have added in the option to calculate on-costs using numeric values in Compensation & Fees to support multiple contract recruitment markets.
If you are manually managing on-costs, you can now use Vincere Pay & Bill templates to calculate any fixed fee values such as supplier fee, medical claims, insurance, etc.
On-Costs can be included in both the Total Pay Rate to the Contractor/Employee and/or the Bill Rate to the Client. For example, if you’re charging your client a supplier fee, the fee can be charged to the Client (in Bill) but not to the Contractor (in Pay).
b. New Time Interval: Annual
We have added a new Time Interval called “Annual”. This is ideal for the Japanese market where 80% of the job market is made up of annual contracts. To make use of this Time Interval, you can choose it from the dropdown. You will then be able to see the Contract Length default to “year(s)”:
Please note that the column which was previously called Pay Interval is now called Time Interval, to match the field name in the placement. This change will be made on all columns, Pay & Bill templates, and the export scheduler.