How hiring contractors can helps you to find right talents
The latest figures released by the Office for National Statistics show that unemployment in the UK is at its lowest rate since 2008 and the biggest drop for more than 25 years – proof-positive that UK Plc is indeed back in business. But this good news is being somewhat dampened by the continued issue of skills shortages, which continues to be of great concern to many employers and recruiters alike.
Indeed, irrespective of whether we have near-full employment or high unemployment, the number one problem that employers face is finding the right talent, at the right price, and at the right time to meet their requirements.
Commonly dubbed the ‘skills gap’, many employers are becoming increasingly frustrated over what they see as a relatively mediocre candidate base of applicants who are currently on the market. This is being compounded even further by rising costs in certain high-growth sectors, such as engineering and IT. But could the skills gap be bridged and if so, how?
To a large extent, the skills gap crisis could in fact be improved if employers introduce training programmes to develop the skills of the people they already have, pay competitive wages, and forge closer working relationships with local training colleges and institutions.
Of course, this takes time and investment and time is, as they say, a precious commodity. In the meantime, employers could better utilise a talent pool that already exists and crucially, has the skills that employers really need – contractors.
So how will taking on a contractor benefit an employer? There are a number of key reasons and here we highlight the top 7 reasons that our clients have told us:
Cost-effective and flexible:
Contractors are only paid for the work they do, arrange their own National Insurance Contribution’s and tax, and can typically start work at short notice. For employers this can be a God send as they only pay for the time worked, they can keep a better check on their staffing budgets, and they can keep both their cost-per-hire and time-to-hire to a minimum.
Focused and efficient:
Because contractors are classified as self-employed, they know that if they don’t work they simply won’t get paid. This means that employers are pretty much guaranteed to get someone who is highly motivated and much focused on completing the task in hand on time and within budget.
Contractors are hired by employers primarily because they have a specialist set of skills that very few other people possess. This is what makes them an attractive proposition for many employers seeking those skills for a specific reason or time.
Breadth of experience:
Because of the nature of their work, contractors will bring with them a wealth of experience gained by working for a variety of different employers – some big, some small, some pioneering and innovative in their respective fields. This brings with it a knowledge base that can be tapped into, not to mention the fact that they could help you develop your existing teams’ skills.
Hit the ground running:
Contractors understand better than most the sensitivities involved in working on a project-by-project basis. They are skilled at getting on with the job from day one and don’t need a settling in or honeymoon period commonly associated with permanent employees. This means they can be thrown in at the deep end during key business-critical periods.
Demand for contractors continues to grow and although they may not be the silver bullet to overcoming the skills gap, they go a long way to addressing the needs of employers.