GTM Sauce

Japan Dev · B2B · Japan developer job board

Have companies report hires within ~5 days; refund only part in month one

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What they did

Companies must report a hire within ~5 days of contract signing; invoice sent then, due on the last day of the month following the join month. If the hire has an issue within ~1 month, a partial (not full) refund; simpler than recruiters' staged refund schedules (e.g. 100% in month 1, 50% after 3 months).

In their words

$60k/m from a job board

Play from 35:20

Phil… going to ask. Well, I I love the the model you've got of the kind of legal contracts uh and if they don't tell me, there's a fee and all that sort of stuff. Um, I was just wondering a small thing about do you get paid as soon as the person joins, or is there like a 6-month grace period to see if they stay, like traditionally with recruiters, you know, you've got to stay at the company before the person gets paid, or is it just when they join?

35:20

Eric TurnerUm. There's a little bit of a delay, so they have to tell us, basically, within like 5 days or so, when they sign the contract, and then we will send a uh a an invoice to them at that point. So, that is fairly quick, but then we give them some uh a bit of a grace period with the invoice itself. It's It won't be due until like the last day of the month following the month when the person joins, so there is that delay. And then, if they join, and like with within 1 month, there's an issue, then we do We give like a partial refund, um so it's not not a not a total refund. And, yeah, some recruiters will have like a staged, kind of decreasing refund schedule that they'll do, where it's like, you know, 100% within the first month, and 50% after 3 months, whatever, that kind of thing, cuz the value like the amount of um money that they're dealing with is quite high, some of the time. So, for us, it's a bit lower, so, you know, we were like, "All right, within, you know, 30 days or so, we'll at least give part of, you know, the placement fee back." Um, so, yeah, we we do have a it's kind of simple, um, you know, rule for that.

36:27

PhilNice, that's interesting to hear. And just the last one I was going to ask about is, you know, what's the what's the future hold? What's the plans? Are you keep doing the same keep doing the same growth strategy? You want to You want to sell it? Not to me, but you know, you look to sell it? What what's what's the plan?

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Tags: billing-terms, refund-policy