Quick wins, long-term gains and risk mitigation - the why, when and wherefore of the contractor market David Thew, Managing Director, David Thew & Company Ltd Recruitment Partner to Maverick Publishing Specialists David Thew & Company Ltd
The Consultancy Market Maverick – 400 projects in 2014 and 2015 Breakdown: 40% in Marketing and Market Research 35% Technology and Content 25% Sales (strategy and representation), Partner Relations and Business Strategy Geographic breakdown 35% US 65% non-US – focus on EMEA but noticeable growth in APAC c60/40 split between project (Time and Materials or Fixed Cost) and Interim/Full-Time Time and Materials tends to be a more accepted model in the US than elsewhere Client base across the whole supply chain David Thew & Company Ltd
Why use contractors? Minimising risk David Thew & Company Ltd
Why use contractors? Minimising risk Expertise is immediate and specific Costs are a known quantity Timescales are controllable Training is minimal (typically) Headcount on-costs are kept to a minimum SLAs/guarantees on delivery, particularly if ‘aggregator/curator’ is used Direct relationship between hiring manager and contractor – HR processes kept to a minimum David Thew & Company Ltd
Why use contractors? Buying Time David Thew & Company Ltd
Why use contractors? Buying Time Evidence-based decisions ‘Toe in the water’ market testing Troubleshooting before permanent hire Working interview ‘Doing the day job’ during permanent recruitment process Objective and qualified input into recruitment process ‘Requirement proofing’ to justify longer-term hire D David Thew & Company Ltd
Why use contractors? Geographical advantages D David Thew & Company Ltd
Why use contractors? Geographical advantages Expertise on the ground Bypassing local employment and taxation regimes Local, regional and (often) global networks Local-language point of contact Local market and business culture knowledge D David Thew & Company Ltd
Why be a contractor? Career crossroads D David Thew & Company Ltd
Why be a contractor? Career crossroads Pause for breath Redundancy – keep skills fresh and visibility high Add employers to your cv Acquire new skills Work in related but different markets D David Thew & Company Ltd
Why be a contractor? D David Thew & Company Ltd Flexibility
Why be a contractor? D David Thew & Company Ltd Flexibility Manage your work/life balance Work from home (not always an option) Reduce stress by having greater control over when and how you work Greater cost-efficiency – tax and business cost benefits Variety – different projects with different employers Working through an ‘aggregator’ – regular source of work and less pressure to win new business
Pitfalls! D David Thew & Company Ltd
Pitfalls! D David Thew & Company Ltd Contractors Feast and famine Cash-flow – make sure you choose an affordable model Home-working can be isolating Remember to network and develop business – be visible Keep your cv up to date Use social media e.g. LinkedIn, Xing and make sure your profile is current and informative Contracts can end early or last longer than expected Homeworking can be isolating BUT: Working through an aggregator can help with consistent demand flow, business development, administration and team-work!
Pitfalls! D David Thew & Company Ltd Employers Quality and delivery control – project clarity and enforceable SLAs Contractor could leave mid-way through project – build in contingencies Home-workers may go to ground – insistence on regular scheduled communication Confidentiality during and after project - NDAs Different terms in different countries
Pitfalls! D David Thew & Company Ltd If you aren’t sure of their credentials:
Questions? D David Thew & Company Ltd