Identify and overcome the key challenges of acquiring and retaining contractors

Written by FCSA Business Partner, Perkbox

As we know, working with freelancers and contractors can be challenging to umbrella companies. In the UK there is a surplus of qualified workers that offer a high level of expertise and skill, particularly in technical fields. With 90% of contractors citing specialisation as the key to their career achievements, hiring independent professionals is a sensible practice for corporations who need talent with expertise in a particular field, and ensuring you are the umbrella company of choice is essential.

So what are some of the key issues facing contractors in today’s market? For one, many independent professionals are not entitled to the common associated benefits of those working in a 9-5 environment. For instance, they may not be entitled to sick pay, holiday pay or maternity and paternity pay. There is also a very high potential for turnover when working with contractors, and this isn’t helped by the restricted opportunities for face-to-face interaction with umbrella companies.

On the flipside, there are a few simple steps umbrella companies can take to anticipate and help to overcome potential barriers to working with contractors. Designing strategies to boost engagement amongst contractors will help them to appreciate the value of your services from day one and help to keep them with you for longer. Here are just a few of our top tips:

  • Involve your freelance workers in celebrations of company goals and milestones.
  • Provide verbal and written recognition to your freelancers and contractors for their achievements, such as completing their full contract length or for long service with your business.
  • Feature top contractors and their accomplishments in company newsletters and e-mail updates.
  • Ask for feedback – independent professionals will undoubtedly have worked with many other businesses in your industry and may offer interesting ideas for your business.

At Perkbox, we help companies acquire, engage and retain contractors by offering a range of financial, emotional and physical benefits for them and their families. Visit www.perkbox.co.uk to find out more!