For businesses in high-demand labour hire that service sectors like construction, mining, and logistics, rapid growth can bring significant challenges. Scaling operations often requires not only an increase in workforce size but also the financial flexibility to meet payroll, supplier payments, and other operational demands.
This was the challenge that Perth-based Skillforce Recruitment, a leading provider of tailored staffing solutions, faced as it grew alongside its clients. The solution came in the form of a powerful partnership with Octet, which provided the financial support needed to help Skillforce, and their clients, scale confidently and seize new opportunities.
The importance of financial flexibility in recruitment
Founded in 2010, Skillforce Recruitment has always been committed to providing top-tier staffing solutions for businesses in sectors that face high demand for skilled labour. Over the years, Skillforce’s reputation for flexibility and scalability has helped the company grow alongside its clients, providing customised workforce solutions to industries that often require rapid scaling.
However, as Skillforce’s business expanded, the need for a reliable financial partner became clear. Managing the constant flow of recruitment needs, payroll, and supplier payments was complex, and traditional financing options often didn’t provide the flexibility they required to meet client demands.
“Recruitment is about responding to client needs quickly, which often means rapidly scaling workforces to meet project deadlines,” explains Daniel Ziccardi, Managing Director of Skillforce Recruitment. “However, scaling is only possible when there’s financial flexibility to support that growth. That’s where Octet’s working capital solutions came in to help us optimise our cash flow, so we could focus on what we do best — serving our clients.”
Local mining companies turn to Skillforce for qualified personnel
Finding the right financial partner to optimise cash flow
Recognising the growing need for financial support to maintain smooth operations, Skillforce partnered with Octet who are experienced with providing tailored working capital finance solutions to labour hire businesses.
“When we started working with Octet, we were impressed by their deep understanding of our business and their ability to tailor a financial solution that met our needs. Octet offered us the flexibility we needed to scale efficiently and support our clients,” says Daniel. “Their working capital solutions were a perfect fit for our growth goals.”
Octet tailored a $750,000 Debtor Finance facility, which immediately gave Skillforce access to funds tied up in outstanding invoices, allowing the company to cover payroll and supplier payments without waiting for invoices to be settled. This enabled Skillforce to take on more clients, onboard additional staff, and manage larger recruitment projects without the stress of cash flow delays. As they’ve continued to expand, this facility has increased to $4.5 million.
“The limit increase reflects the company’s dynamic growth and increasing demand for its services. This boost in working capital enabled Skillforce to manage a larger volume of client projects and recruitment activities, all while maintaining financial stability,” explains Nigel Thayer, Octet’s Director Working Capital Solutions – WA.
Streamlining cash flow to expand operations
The funding provided by Octet allowed Skillforce to better meet the needs of clients in high-demand and fluctuating industries without disruption.
“Whether it was onboarding workers for a large-scale construction project or quickly scaling a team for a mining operation, with Octet’s working capital solutions, Skillforce could align its cash flow to the specific demands of each project,” said Nigel.
With reliable financial support, Skillforce was able to take on more clients and expand operations. This allowed them to manage multiple projects simultaneously and respond to new business opportunities without the worry of cash flow constraints. As a result, Skillforce could maintain the speed, quality, and consistency that their clients expect, all while growing their business and enhancing their reputation as a trusted partner in recruitment.
“Our collaboration with Octet enhances our ability to provide clients with a comprehensive growth solution that includes both reliable staffing and the financial backing needed to grow sustainably,” Daniel explains.
Skillforce have a large database of skilled construction labour hire candidates
A transparent and supportive partnership for sustainable growth
The relationship between Skillforce and Octet has been characterised by transparency and flexibility. Octet’s supply chain platform provides clients with easy-to-use tools to track and manage their financial transactions, giving businesses greater visibility and control over their cash flow.
“Octet’s platform is incredibly user-friendly,” says Daniel. “It allows our clients to validate, track, and authorise transactions at each stage, which reduces the complexity and risk of managing finances. The transparency of the platform has been critical in building trust with our clients.”
“Octet’s understanding of Skillforce’s business model and industry has made the partnership even more effective,” adds Nigel. “By providing tailored financial solutions that fit the unique needs of each project, Octet has allowed Skillforce to offer more comprehensive services that address both recruitment and financial support.”
Looking ahead, Skillforce plans to continue expanding its service offerings to cater to even more industries. The financial backing provided by Octet will be crucial in supporting these expansions, allowing Skillforce to offer even more tailored solutions to clients.
Says Daniel, “With Octet’s ongoing support, we can continue to help businesses scale and meet the growing demands of their industries. We’re excited to be part of their journey as they take on new opportunities and expand their operations.”
Power your growing business
If your business is experiencing rapid growth or you want to capture new opportunities, Octet’s labour hire finance solutions give your business the power to scale. We work successfully with Australian businesses facing these same growth challenges every day, providing access to best-in-class working capital solution and supply chain finance technology. Contact us today to discover how we can help power your business growth.
