HOW CONTRACTORS CAN ADD VALUE TO YOUR BUSINESS

For many industries contractors have been a key strategic move; Contractors have proven to be highly resourceful which have been an integral part of how they have develop their business and how they manage long-term and short-term growth.

Some organisations may see contractors solely as a way of plugging planned and unplanned staffing shortfalls; some others have contractors as a significant force for change. For some of the industries and businesses though, contractors are only just becoming a practical and valuable source of expertise.

This guide will be exploring the importance contractors bring to businesses of all shapes and sizes through all sectors.

Cost-effective

While contractors are naturally paid more than permanent employees, the cost-effectiveness of contractors alone can be deceptive. Contractors are naturally paid more per hour than permanent members of staff unlike permanent employees, contractors are not entitled to benefits such as pensions and share schemes; nor are contractors entitled to laying-off payments, maternity/paternity leave or any company-related bonuses. Although the hourly or daily rate of contractors may surpass that of any permanent employees, the long-term investments could far offset your initial costs.

Contractors become predominantly cost-effective when the demand for staff is project-driven or is affected by the volume change business, whether it is by unexpected expansions in demand or natural expected seasonal changes. Hiring the right specialist contractors means companies can scale up their operation and employment levels or cut back on request without having to make any permanent additions to headcount; leaving them less bound by the long employment process lifecycles and much more swift.

Creating flexible staffing solution

So many companies have contractors and they are a great source for strategic and unanticipated shortages in staff, whether it is as a result of maternity leave or long-term illness, expansions in business, or as a result of new projects they lack the expertise for in-house and are unlikely to need over the long-term.

Weather is replacing permanent employees on a temporary basis with additional permanent heads is rarely viable. Even when it is, it typically means the downtime linked with on-boarding new employees, the required time to get them up to speed with the work which is required and the delays which is caused by things such as training, means the first few weeks of starting the new position can be lost, and in fact end up costing companies before they start to see any real value.

How to plug skills gaps or shortfalls

The main difference amongst permanent and contract employees are when it comes to the value they are offering to businesses it can be put to one main principle: permanent workers are employed to increase the services and capabilities of the organisation over the long-term, while the contractors are usually hired for the precise professional service they bring.

Contractors naturally offer businesses with access to skills they do not normally have in their working force, or do not have enough of, and may not be essential over the long term. Businesses can consequently take on expertise and skills as and when they need them and can adapt their employment levels accurately and flexibly.

The most skilled contractors have a wealth of experience through multiple projects, companies and, in few cases, sectors and industries. The skill and expertise the contractors bring is greatly treasured and instantaneously effective because they've seen it all before. Contractors have typically experienced a great deal from past projects and issues related with those schemes and just as prominently benefited from previous achievements. Having this experience and expertise permanently accessible in-house involves significant investment in time and money and a much superior team than would be possible for most businesses.

How we raise the bar within organisations

While employing contractors with professional skills and experience can have instant impact on variations and level of experience available to your businesses, they have long-term implications for your permanent employees and the skills set and expertise available generally.

Engaging noble contractors can develop the skills and approach of permanent employees by upholding best practice, offering mentoring prospective and encouraging expertise sharing. They are likely to bring new ideas, superior expertise and comprehensive experience to organisations, enabling their existing employees to learn and think in a different way.

Our Motivation & objectivity

Contractors can only be as good as their last assignment and their reputations are built and broken on a project-by-project basis. This shows that their motivation to thrive is determined by outcomes and feedback and not by the prospect of gaining promotion or a greater position within organisations. Contractors are consequently dedicated on doing the best possible job and are free from politics and gamesmanship that can be associated with working in an organisation.

What to be looking for when interviewing contractors

• They have skills and experience to do the job offered
• They are confident and assertive, without being too pushy or arrogant
• They are pleasant and can work with people of diverse levels and personality types
• They are clearly motivated on delivery and success
• They have good communication skills, can inspire others and are not anxious to listen
• They are inquisitive and not anxious to ask questions
• They have a established track record in your industry and with related projects
• They are commercially cognisant

What you should be careful of

• They are way too fixated on how they can benefit from you rather than how you will benefit
• They are excessively creative when talking about prior experience
• They talk way too much and like the sound of their own voice
• They are forceful with their views
• They are concentrated purely on the project and do not consider the commercial consequences of delivery
• They are not exposed to other perceptions
• They are inflexible
• They don’t ask questions about your company or they do not look to learn more about the project/assignment