At RFS, we understand that a placement fee represents a substantial investment in the future of your company; that is why we offer the best guarantee in the industry. Many recruiting firms give no guarantee at all for the applicants they provide; some recruiting companies offer a 30 day, or 60 day, or maybe a 90 day Free Replacement Guarantee. RFS offers a full one year Free Replacement Guarantee with an additional second year of limited guarantee, as outline below:
If the employee, that we place with your company, does not last for one year, the client-employer has the option of either having RFS replace the employee (free of charge), or the client-employer can take a Future Credit for the full placement fee amount paid (it is the employers choice: Free Replacement or Future Credit). If the client-employer chooses Free Replacement and RFS cannot replace to the client-employer’s satisfaction then they can opt for the Future Credit. This Future Credit has no termination date and can be used to pay when making future placements with RFS. The reason that RFS offers a Future Credit is that we have found that while the Free Replacement Guarantee sounds good it can, in practice be problematic for the employer; for example if the employer decides to replace the guaranteed employee with an internal move, or if the employer prefers some other applicant (than the ones supplied by the recruiter as Free Replacement) then the employer effectively loses their Free Replacement guarantee; thus, the Future Credit gives much more flexibility to the RFS guarantee. NOTE: structured layoffs and company downsizing are not covered in the RFS guarantee.
If the employee lasts for one year but less than two years then: at one year and one day the option of Free Replacement expires and the client-employer receives a Future Credit that is extrapolated (graduated) over the second year (again, this Future Credit is in non-expiring). An extrapolated (graduated) Future Credit means that the Future Credit gradually diminishes over the second year on a steady basis. Examples: after 15 months (total) the Future Credit would be 75% of the placement fee; after 18 months (total) the Future Credit would be 50% of the placement fee; after 21 months (total) the Future Credit would be 25% of the placement fee; at 2 years (total) the Future Credit has diminished to zero. NOTE: structured layoffs and company downsizing are not covered in the RFS guarantee.