Frequently Asked Questions
How much is membership?
Two types of membership are available: The RIB Full Index – £150 + VAT per month. This gives access to the full range of information available enabling management help drive performance and returns RIB Essentials – £49 + VAT per month. This gives access to a select group of answers that is the “Essential” information that management needs to know to help them operate a professional recruitment company Utilising the information you gain to increase your profitability should mean your RIB membership will more than pays for itself.
Is RIB Index membership for me?
If you operate a recruitment company – Yes. Our membership is made up of a broad cross section of the recruitment industry and its sectors and represents all shapes and sizes of companies. All of these companies have, and continue to, gain real benefit from their membership. It’s no coincidence that our members have won numerous awards in the recruitment industry and also in the wider business environment. Membership speaks volumes for the attitude of management to drive continues improvement and increase profitability, regardless of the size of the company or the sector it operates in.
Does membership commit me to a long term contract?
No, we are proud to say our members stay with RIB Index as they gain real value from their membership. In the unlikely event of you wanting to cancel membership, we ask for just three months notice.
How can I make the best use of my reports?
Make your RIB reports part of your regular reporting cycle. It is vital that the RIB reports are given the priority they deserve within your company and most RIB Members have made reviewing their reports part of their monthly management and/or board meetings.
I operate in more than one sector can I input all this information to get even more benefit?
Yes, a number of members do this. A RIB staff member will show you how you register different sectors and/or brands so that for no extra cost you receive the sector specific information you require.
Do I have to calculate the answers?
No. We simply ask that you input your “raw” information to enable RIB to calculate your answers – for example, how many fee earners and total staff you have. RIB will calculate your ‘fee earners as a percentage of total staff’ figure. This enables you to see at a glance if you have a high level of non-fee earning staff, with obvious implications to your bottom line.
Do I have to input all the information?
No. RIB is fully flexible, you simply input the information you feel is most relevant to you. For example some companies may not deal in Temps, so they just miss this out. Remember however if you don’t input information to enable us to calculate a particular answer for you, you will not get any results for that answer in your reports. You get back what you put in – the members decided that if you don’t put information in, you don’t get information back. This encourages everyone to input so that everyone benefits
Who should do the inputting?
This is up to the individual member, but it is crucial that whoever is doing the inputting understands the information they are inputting. Given the importance that the reports have, in many companies it is often the MD or FD that inputs the information themselves. In larger companies inputting is often the responsibility of someone within the accounts department, with the direct involvement of the FD. All new members are taken through the input process by a RIB staff member, and a staff member is always available to answer any questions members may have.
If I don’t put in any information or miss the cut off date will I still get my reports?
No. You get back what you put in – the members decided that if you don’t put information in, you don’t get information back. This encourages everyone to input so that everyone benefits.
How long does the inputting process take each month
In your first month you will need to input some historical information. This enables RIB to do year-on-year comparisons going forward – a RIB staff member will explain this fully to you when you join. Once your historical information has been loaded onto the website, a standard months inputting should take a no more than 20 minutes for a Full Index member and no more than 10 minutes for an Essentials member. If you are a relatively new company or, for whatever reason, do not want to input historical information onto the website you don’t need too. This simply means your RIB reports will not provide you with year on year comparisons until you have been a member for 12 months.
How do I know I am measuring the same information as the other members?
A full range of definitions for each piece of “raw” operational information that members input is available on our website. This ensures all members are measuring comparable information – again a RIB staff member will explain this fully to you when you join.
Will anyone else see my figures?
No, your data is password protected and is only available to you. The confidentiality and security of your information is paramount to RIB Ltd. Although the reports show a select number of actual company figures no company names are included. Overall headline figures may be used to help promote the RIB Index, but no individual company figures are identified
Are the reports usable, rather than academic?
That′s exactly what RIB is, a usable management tool. Results are presented in both a graphic and numerical form so that members can use them as suits them best. Members are taken through exactly how to read their reports and RIB staff members are always available to answer questions. The RIB Index is not an academic or market research report. RIB members are forward thinking professionals exchanging information through the RIB reports to help them optimise the performance of their business in a practical manner.
If I miss a cut off date or want to alter information I’ve input can I do this later?
Yes. To alter information you simply go back to the relevant months “Raw Information” input page on the website and make the alterations you want, and then click the “Update” button. This altered information will then be used, where relevant, for your reports going forward. Remember, the majority of RIB’s answers also work on a three-month rolling cycle so any information missed one month will need to be submitted in time to calculate future reports
Why are most figures calculated on a rolling quarter basis?
This was requested by the members to minimise any strong monthly fluctuations (particularly on Perm).
Is there any help available to ensure I’m making the most of my RIB reports?
Yes. RIB staff members are always available to answer any one-off questions. In addition new members are taken through the website and input process when they join. They also have the opportunity of reviewing their early results with a RIB Mentor. This ensures their inputs are correct and enables them to discuss the results and how these highlight areas where value may be added to their business. In addition RIB holds regular Members Days to update members on developments at RIB and discuss potential changes etc
How long has RIB Index been going?
Recruitment Industry Benchmarking Limited was set up in March 2002 and the first RIB Index reports were made available to members early in 2003. The RIB Index was originally conceived by Romney Rawes, the inaugural winner of the Recruiter’s Gary Clark lifetime achievement award, to bring the benefits of benchmarking to the recruitment industry through industry-specific processes. The RIB Index continues to evolve through members’ input and feedback to meet the demands of this fast moving industry.
Why should I benchmark?