Features

What is PSL in Recruitment & Why Businesses Use Them

PSL, also known as Preferred Supplier List, is a widely recognised term in the staffing world referring to a list of approved suppliers who have committed to an agreed set of terms. Businesses use a PSL of recruitment agencies to help them source the right talent for their roles.

We explore the need for having a tight and controlled go-to list of trusted suppliers and some of the newer alternatives businesses could benefit from.

What Does PSL Stand For In Recruitment

A PSL, sometimes known as a Preferred Supplier Agreement (PSA) is created by businesses to help them save time and resources when it comes to recruiting. It means businesses can push a brief to a list of recruitment agencies to help find the talent they need, understanding the costs associated with using that recruiter.

Why Businesses Use Recruitment Agencies

Businesses looking for freelancers have traditionally used recruiters when they:

  • Have an immediate need and don’t have the time to source talent directly.
  • Have a hard to fill a role in an area where there’s a shortage of talent.
  • Don’t have a direct view of their current freelance workforce.

Using recruiters is a familiar process and easy to manage but can also be costly, and if not tracked properly, can be very expensive to a business.  

So, what if there was another way businesses could enjoy the benefits of working with recruiters to find great talent when needed, without the worry of tracking fees, ensuring a business reduces its sourcing costs over time?

Why A Freelance Portal Should Be Your New PSL

A freelance portal could be what you’re missing. Being regularly updated with new talent all the time, using a platform like YunoJuno gives you direct access to a wider pool of talent than a trusted list that isn’t reviewed regularly.

Using a freelance portal will also mean every freelancer you work with will have been checked for their right to work, all insurances are in place, and most importantly in an IR35 world that all compliance has been confirmed by all parties before the contract is signed.

Using a portal also helps consolidate payments, as many Freelance Management Platforms pay both freelancers and their recruiters regularly. This takes the admin out of invoicing too- something both businesses and freelancers are grateful for.

The YunoJuno Freelance Portal

Whilst there is still room for traditional recruitment methods, using a freelance portal like YunoJuno gives a client total visibility and control over their freelance workforce and their associated PSL. Businesses will have a view of their ownership periods and fees which are automatically tracked and updated. This helps reduce costs over time and lets businesses find the best talent, whilst ensuring recruiters are paid on time.

If you’re looking for a new approach to recruiting and managing your freelance workforce and you want to explore an admin-free option, why not arrange your demo with our team today.