Companies are increasingly relying on contract or interim employees during periods of change or in situations where hiring a permanent employee is not suitable. Here are some scenarios where a business may wish to consider a contractor and why:
1. A solution to an immediate requirement
- You’re in the middle of a major project and a vital member of the management team suddenly leaves, what do you do? Contracting an interim employee for a senior role can be the perfect solution in this type of scenario, mainly because contractors can hit the ground running and they can be in place in a matter of days. They are proficient at dealing with new processes, teams and company cultures with little or no notice. These experts are highly trained and knowledgeable in their field so they will get to grips with various systems and procedures quickly and efficiently.
- You might not be ready to start thinking about filling the role again quickly but you need to get the project completed, so interim support will you give you room to breathe while you consider the options. After the departure of an executive member of staff, an interim resource will ensure momentum is not lost while the recruitment process is ongoing.
2. One-off projects and managing peak workloads
- In many industries, a company’s workflow can fluctuate throughout the year. This may be due to increased demand or because of short term or one-off projects that your company may be undertaking at a given time. These fluctuations can leave companies struggling with a lack of resources or a shortage of necessary skills and can lead to negative consequences such as poor performance and employee burnout. At times like these it’s likely that your business requires extra help and this is where the use of a contractor is invaluable.
- A contractor will provide you with a flexible arrangement to complete the project or to get through a busy period without having to commit to taking on permanent employees. Interim employees are quick to adapt to a new environment with a proven track record of delivering projects within a defined period of time.
3. Specialist knowledge and mentoring
- Many organisations are faced with situations where specialist knowledge in a particular area is required which may not be already available within your business. There is a growing market of contractors that can provide expertise in specific areas that can be used for a period of time to add value to your business. Contractors offer an objective view on your business and can directly contribute to achieving a specific goal, using their experience and understanding of the industry.
- Growing businesses may have skills gaps in their workforce where the people at leadership level may have strong technical talent but not the necessary strategic skills. In this case, interim professionals can be a valuable mentor or coach, distributing their functional knowledge to the relevant individuals to ultimately benefit the long-term success of the organisation.
4. Financial advantage
- You may believe that contract workers cost more than permanent professionals, but this is not necessarily the case. Contract workers can actually result in cost savings to your business; often saving on costs related to hiring permanent employees such as taxes, benefits, training and development, redundancy pay-outs and vacation pay that ultimately end up being more costly in the long-term. For more information on the cost of interim professionals, please see our blog “Interim consultants are too expensive aren’t they?”
- Also to be considered when hiring an interim manager is return on investment. Contractors are an effective and positive way for companies to achieve their business objectives and obtain highly specialised leadership skills at crucial times, meaning that the outcome outweighs the costs of hiring.
It’s clear that there are a number of scenarios where a contractor could be hugely beneficial to your business. Next time you experience one of the above scenarios, hiring an interim or contract professional is something worth considering.