Hiring Day Rate Contractors for your Company
IT Contractor Hiring & Rate Guide ’24
Stay updated with the latest trends in the IT sector and current contractor rates. Ideal for employers considering hiring individual contractors or assembling a contractor team.
6 Reasons why Organisations and Companies are choosing to Hire Contractors?
Speed to Hire People
The main advantage to companies is that you can typically source the skills needed more quickly than hiring permanent employees. A project, market forces or client demand often demand scaling quickly. Typically, a day rate contractor doesn’t have a notice period and can make him or herself available within 4 weeks. More importantly, independent contractors tend not to deliberate the pros and cons of the job like a permanent employee would naturally do. Long term contractors also recognise that once they commit to undertaking an engagement, they are conscious of their reputation of accepting a contract and then backing out of it.
Specialist or Niche Tech Skills
Many organisations may not need a specific skill set in their organisation permanently. They may not need a Project Manager, Business Analyst or Software Developer longer than 6 to 24 months. Interestingly, companies that do have structured Business Change and IT teams may bring contractors in for specific niche tech stakes. On occasion, expertise can be contracted in to initiate a project, design the technical architecture and then the business can complete the project or technical solution.
Flexibility for your Workforce
In a period of change like now, your organisation may be unsure of the future of work. You will either have a remote workforce, an office workforce or a hybrid model. This allows your company to remain nimble without making long-term commitments when a future workforce plan isn’t clear. Contracts typically have a 4 week notice period without the commitments of typical Labour Laws in an employer-employee relationship so it allows your organisation to adjust as it needs to.
Maturity in Skills or Talent
Generally, day rate contractors are experienced experts in their field. They are typically comfortable in new environments and navigating themselves within an organisation. Independent contractors are generally more autonomous and are able to deliver results more quickly.
Access to a Wider Talent Pool
Some organisations are interested in hiring talented developers in other EU countries. However, there is a range of tax compliance issues that need to be addressed in the new country and setting up as an employer in another jurisdiction can often be cumbersome for an organisation, for example, to hire only 1 or 2 talented Software Engineers. But by ensuring that the engineer has his or her own company, and is a foreign independent contractor, that burden can be reduced. Tax compliance is subject to change and just to note, we aren’t tax advisors. There is a range of tax issues when working with employees (rather than independent contractors) in other countries.
Simplifying Business Processes
Archer Recruitment will issue your company with a contract and an independent contractor agreement to the contractor. There is no need for you to issue any employment contracts. Structured correctly, there also isn’t employment tax (employers PRSI). There are no employee benefits such as holiday pay, health insurance or sick leave, so literally, your company only pays an independent contractor for the days that they work.
Some of the ways we can help your company recruit contractors
Archer Recruitment provides day rate contractors to a range of organisations including banks, insurance companies, software development and software integration houses, medium and large corporations and public sector bodies.
We have relationships with a range of independent contractors across a range of skills including: Programme Managers, Project Managers, Business Analysts, Testers and Quality Assurance, Software Engineers, Technical Architects, ERP Consultants, Business Intelligence and Data Specialists.
For more information on utilising IT, Business Change or Data Contractors in your organisation please contact Kieran Tumulty.