Growth through Talent

Top 5 challenges to hiring Freelancers

 3rd Aug 2022

With the first half of 2022 under our belts, business planning for Q3, Q4 and the holiday period is under way. Many businesses are doing their best to prepare for one of the busiest times of the year by getting ahead of the competition and pre-empting the contract support they will need over the last 6 months of the year.

In previous years, clients who waited until October/November to hire freelance support generally struggled with availability or an up to 25% uplift on rates due to scarcity of available contractors. Those who made hiring decisions in August and September, were able to extend contracts through the end of the year, and retain top contractors to support though one of the most difficult periods.

This year, Pivotal wants to support you in making sure you get ahead of these issues.

 

Current Challenges

  • Day rate increases due to IR35
    • **Put the chart in showing difference in price**
    • If you can adjust your ways of working to allow the contract to be outside IR35, it is cheaper and more candidates are interested!
  • Scarcity in contractors across the market will increase day rates even further
    • Contract placements in Q4 typically endure a 25% uplift due to limited availability
  • Contractors are prioritising fully remote roles
    • Being able to have fully remote contractors will give you more choice and greater value
  • Contractor availability decreases significantly over Q3
    • Many candidates will find contracts in the next 4 weeks that they will stay in until the end of the year – now is the time to get ahead of this
  • The current lead time to bring contractors on board in most businesses is 1-3 weeks
    • Decisions that are signed off now will impact the following month

 

What can you do now?

  • Start planning what your needs will be across different teams
    • Account for budgets increasing
    • Staff turnover
    • Increased output due to the time period
  • Get in touch with your recruitment partners
    • Ask them to create a pipeline of candidates for verticals that will likely need the most support. IE: Paid Social / PPC / SEO
    • Ensure they keep you up to date on market trends, rates, and availability
  • Get internal sign-off based on your forecast
    • Ensure financial sign off is under way as soon as possible

As always, Pivotal is happy to support in across any freelance roles you have upcoming, give advice around IR35, and provide fantastic candidates that can support your business in the upcoming months.

Please get in touch with Tokay at Pivotal on 07918558632 to have a further discussion or email at tokay@pivotallondon.co.uk

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