The Covid-19 pandemic has forced businesses to change much about the way that they operate. Certainly, a company must be willing to adapt and change with the times in order to ride out the crisis. And in this regard, it is unsurprising that independent contractors have become in-demand through the pandemic.
Contractors offer a range of benefits to your business that are especially relevant in 2021: here are some of the ways that contractors could be vital to your company.
A more flexible workforce
Perhaps the most crucial quality that contractors can bring to a business is flexibility. The situation regarding Covid-19 changes so often that it is necessary for businesses to be able to be agile, and open to changing up their ways of working.
If you are used to working entirely with a salaried base of in-house staff who come to work 9 to 5 – this may no longer be ideal for the duration of the pandemic. It can be necessary to work differently, and contractors offer you a way to do this.
Keeping salaried costs down
In 2021 it is more important than ever that businesses look for ways to minimise their outgoings. It is the case for the majority of companies that salaries actually make up a huge amount of the overall costs to the company. It is also a fact that bringing in salaried staff is expensive, especially over time. Depending on the sector, businesses can use up to 80% of their gross revenue on salaries.
Using contractors is actually a really useful way to lower your salary costs. Yes, typically contractors will demand a comparatively higher hourly or daily rate than staff – but as they are used infrequently and only on specific tasks, this can make them effectively far more cost-effective.
The exact expertise you need
“Contractors are typically brought in because they are able to offer specific expertise that a business only requires for a single project or for a short time,” says Giles Knights, General Manager at ClearHub, a specialist contractor recruitment agency “this could include everything from DevOps specialists to digital transformation consultants”.
One of the major benefits of working with contractors is that you are getting their very specific specialism for the duration of a short period or over the course of a project. Rather than hiring a member of staff with more general skills or paying for a specific expert full-time to carry out tasks outside their field, this allows you to get the exact person you need for the job.
It also means that when the next project comes along and you need a different form of expertise, you can get it easily.
Suited to a remote working environment
Contractors are perfectly suited to the environment of remote work that has been necessitated by the Covid-19 pandemic. Many contractors actually prefer the flexibility and ease of working from home and might be very used to it.
Unlike hiring members of staff who might prefer an office environment, or simply don’t have a great deal of experience outside of it – contractors are regularly asked to work remotely.
Additionally, being able to recruit remotely means that you have access to a much broader range of talent. Now that you are more likely to have the kind of systems in place to allow for simple remote working, it is easier than ever to hire contractors who are based a long distance from you. This can make the task of finding the right person not as arduous as it may have been previously.
More talent available
There is another fact about contractors and the workforce generally that Covid-19 is having an effect on. Functionally, as there are fewer opportunities, there is a greater workforce available. This means that it is both easier and more cost-effective to get the contractor that you need for the job.
Clearly, it is important for businesses to be able to bring in the staff that they need if they are going to have a successful 2021. The fact that there are more contractors looking for work gives organisations the opportunity to carefully select not only for the right skills but also the people who come in at the right time.
Contractors can be hugely beneficial to businesses of all sizes through 2021. They not only provide specialist skills in a cost-effective way, but also they are perfectly suited to the ever-changing working environment of the Covid-19 pandemic.
Related content from StrategyDriven