Benefits of Hiring Contractors
Contract resource to deliver a specific project is nothing new. It does however get far more popular as the market downturns.
It can be cheaper
Depending on the IR35 status of the contractor, they can save money on all benefits areas including holiday, sick leave and pension contributions. The client pays for the work to be completed and often after completion. Unlike permanent staff, there are no added cost of benefits and bonuses.
The time to hire the right contract resource is often far shorter than permanent. A shorter lead time means less lost ground on pressing projects and a quicker ability to upskill teams.
Seeking a specific skill set quickly? Use a contractor.
The costs of the contractor are often fixed. The contractor will cost £X for Y days. There are no fees on top of this, no fees resulting from this and the client has complete say as to whether that contractor will continue after the end of the contract.
It’s a short term fix to a short term problem
Contractors in the UK are not held by the same employment benefits of notice periods. The flexibility offers less risk for the long term for the client. You can hire the resources that you need today as opposed to needing them today but then having to either redeploy or disengage further down the line. It allows companies to execute a short term project without having to concern themselves about the long term implications of hiring permanent staff.
Companies set the terms of engagement
Companies have total autonomy (outside IR35) of stipulating the terms of the relationship. There is often minimal notice so companies can scale up and down the workforce that they require as and when it is needed with minimal legal risk.
Companies often don’t know the hiring requirements 6 months in advance during recession, let alone a fast-moving downturn like 2020. In circumstances like this, it is unknown that demand will return to prior recession levels and what companies will look like post recession.
As a result, hiring contractors is the perfect solution to this, choosing experienced, high quality contractors to take on a specific project is a short term fix, which limits the risk associated with hiring permanent resource.
Hiring Contract staff with Corriculo
Corriculo offer a Trusted Contractor Promise.
All contractors that work with us are either those we have successfully worked with in the past, or contractors that we have 2 years references from.
We do this to give our clients more security in the talent that they’re bringing onboard.
A Corriculo contractor can be a trusted contractor.