Interim and consultancy solutions

Generally speaking, hiring a daily rate consultant is more cost-effective for short-term projects requiring specialised expertise for a limited period. On the other hand, a fixed-term contractor may be more cost-effective for longer-term projects or positions that require a consistent level of support over an extended period, i.e., long-term projects, maternity/paternity cover or temporary positions that may lead to permanent opportunities. It’s important to consider the project’s requirements carefully, the budget available, and the market rates for the specific skills needed when deciding whether to hire a consultant on a daily rate or a fixed-term contractor.

To help you work out which route is best for your hire we have put together a simple tool.

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Flexibility:
Employers can hire project-by-project contractors, giving them more flexibility in managing their workforce and adapting to changing business needs.

Cost savings and reduced administrative burden:
Hiring contractors can often be more cost-effective than hiring permanent employees, as employers do not have to pay for all benefits, payroll taxes, or other overhead costs associated with having a full-time employee. At Taylor Root, we manage the payroll, onboarding and referencing process. Most importantly, this is at no additional cost to our clients and is included in our end-to-end solution.

Specialised Skills:
Contractors often have specialised skills and experience that may be difficult or expensive to find in a full-time employee, which can help employers complete projects more efficiently and effectively.

Increased productivity:
Contractors are often highly motivated and focused on delivering results within a specific timeframe, leading to improved organisational productivity and efficiency.

Not all contractors are necessarily looking to secure a permanent role, as many may choose to offer consultancy solutions throughout their career. Many contractors prefer the flexibility and autonomy that contracting offers and the opportunity to work on various projects with different clients.
 
That being said, some contractors may have a goal of eventually securing a permanent role. For example, they may use contracting to gain experience and build their network in a specific industry, intending to transition to a permanent role later on. Other contractors may enjoy their work but be open to permanent opportunities if they align with their career goals and values. Each contractor has unique career goals and aspirations; recruiters and clients must understand and respect their preferences and motivations.

When an interim assignment sits inside IR35, the end client or the agency that engages the contractor takes on the responsibility for National Insurance (NI), holiday pay, and pension contributions. It’s crucial to seek professional advice and carefully review contract terms to understand obligations related to tax, NI, holiday pay, and pensions.

As a recruitment partner to our clients, we are able manage this process for you so you can be sure all regulatory requirements are meticulously met. We have a dedicated interim payroll and onboarding team who will ensure contractors receive the correct holiday pay and pension contributions in accordance with their employment status.

Typically, you can have your new interim hire start within two weeks. At Taylor Root we have pools of dedicated interim contractors specifically looking for interim opportunities and we work with them on a constant basis. We can therefore provide you with a shortlist of candidates within the first 24-48 hours. The interviews, contract negotiations and compliance can be completed within seven days allowing a hire to start very quickly following your meeting with them.

The process can take a bit longer in instances where the role requires very specific skills or experience or if your preferred candidate has any other short-term commitments which need to be completed before they start. However, in any of these instances we work with you to try to tie the process up as fast as possible.

If the contractor would like to take your permanent offer the process is fairly straight forward. You will need to create an employment contract for the permanent role and be prepared for negotiations on things like salary and notice period. You may wish for this person to attend a more formal induction programme at your business if they did not receive this before. If you used a recruitment agency you should also ensure they are aware of the change and you are taking the person on as a permanent member of your team as there might be fees that you are required to pay.