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21/09/2017
There are two main reasons why you’d contract people to work for you, rather than having employees. First you may have a new project that is a fixed term. The work may cease, and then you’re stuck trying to keep your new employees busy. If you’d hired a contractor, you could just end their contract. Second you may have a project that involves specialised knowledge that your current staff don't have. You don't need a full-time employee for every role; contractors can be hired to do a particular job within a specific time frame. Short term it’s usually more expensive to pay a contractor, but long term possibly less costly than bringing another full-time staff member on board.
If you do decide to hire a contractor, you want to be sure you're getting the best value for money.
The first thing to get right is having specific goals and objectives for the project so that when you're talking to potential contractors, you can explain exactly what you need them to do. If you’re paying higher than average hourly rates for the expertise, you don’t want them spending the first week trying to work out what they need to do.
It's important to:
Contractors are often more focused and willing to work longer hours than your employees (as they get paid more). You might find they're less likely to become involved with the rest of your team, concentrating solely on the project at hand. Understanding the differences between your contractors and your employees is key to getting the best out of them. Keep these key points in mind:
Contractors often quote a set hourly rate, or a project rate. You'll probably have agreed on the price before they start, but in order to make sure you’re getting value you should:
Getting the most out of contractors is down to making smart decisions when you hire them (reference and reputation checking), making sure you have a clear description of what you want them to do, and clearly worked out contract agreements.
Once they’re on the job, it’s essential to stay in touch with them regularly. You want to keep a close eye on progress and the quality of the work, while they need to know you’re always available to discuss any concerns with. Treat them as you would any employee, doing your best to make sure they enjoy working for your business and they get on well with the rest of your team.
POSTED IN: 2017,Day to Day Banking,Startup
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