How contractors could boost your business

Darragh McCarthy 10.05.2011

Morgan McKinley Dublin now has a specialised team dedicated to technical contract and interim roles, with an emphasis on the provision of daily rate contractors. What are the benefits of this compared to the traditional FTC / hourly rate assignments? Here are just a few...

Cost effective: Even though contractors command higher day rates, by hiring them instead of employees, you automatically eliminate payment of PAYE, PRSI, holiday pay, overtime etc. Contractors receive all inclusive daily rates, so there will never be any additional charges.

Legal: Hiring contractors means you are essentially hiring a service, not an employee. Employers are therefore not subject to employment laws and this can save time, money and unnecessary headaches.

Hit the ground running: Because contractors are usually brought in to focus on a specific project or area of the business, they bring specialised expertise with them that enables them to begin immediately and eliminates the cost and time of training. Hiring contractors is also a much faster recruitment process.

Flexibility: Employers have greater leeway when working with contractors. Companies that have fluctuating workloads or projects can hire contractors for a specific task knowing that the contractor will finish once the work is completed. A contractor usually only requires one week's notice.

Expertise: Hiring contractors means that you allow your business to obtain specialised expertise for a short period without having to pay for training and or stretching your current resources. It also means that your current employees can benefit by learning new skills from the contractor – and for free!

Darragh McCarthy's picture
Associate Director
dmccarthy@morganmckinley.ie