
A Beginner's Guide: Hiring a Contractor
In the ever-evolving landscape of the modern workforce, the need for contract resource has become integral for many businesses. Whether you require a highly specialised skill set for a project with a finite timeline or seek a heightened level of adaptability, especially amidst uncertainty, that permanent employees cannot offer, contractors often present a highly valuable solution.
However, for some, the practical aspects of hiring a contractor may appear daunting. Questions such as "How do I engage a contractor?", and "Which approach best suits my hiring needs?" may arise. Navigating the realm of contract-based recruitment is, in reality, more straightforward than it may seem. This article offers a simple introduction to hiring contractors and explores:
Methods of engaging contractors (fixed-term contract vs. day-rate interim)
Pros and cons of each method
Deciding which type of contractor to hire
There are various methods to engage a contractor, but the most common ones:
1. Fixed-Term Contracts (FTCs)
Individuals working under fixed-term contracts are considered employees of the end client and enjoy employee rights along with associated costs to the business. These employment agreements have a predetermined duration, typically lasting for six months or more.