For many, becoming a contractor may seem risky, but there are so many benefits that it can become an incredibly appealing career. If you’re wondering why you should even consider leaving a permanent contract to move into contract work, check this article out.
If you’ve been suitably convinced to move into contracting, it’s important that you’re prepared. While lucrative, flexible and incredibly rewarding, it’s not as simple as quitting your job and starting your first contract role. So, what do you need to do first? I spoke to RECRUITERS’ contract division manager Sarah Pope to find out.
One of the keys to being a contractor is finding your niche. “If you’re thinking about contracting, the best thing you can do is think about what you’re best at and think about what your area of expertise is,” said Pope,
“Every single person out there has a specialty and they have an area that they’re best at and that is visible throughout their CV, and if that’s what you want to do, that’s what you should focus on.”
When you’re just starting out contracts may not come as quickly as they will when you become more seasoned. Therefore, it’s smart to put yourself in a financially comfortable position to absorb a few salary gaps. “You have to be in a comfortable enough position that if, in six months, it took you six weeks to line up your next contract, you’re financially in a position to do so.”
Pope also said that market research is important when it comes to understanding your value. “You can’t expect to go into a contract and suddenly be able to charge double what your equivalent salary is.” To learn more about daily rates, tax returns, holiday pay and other details, click here.
Planning ahead is absolutely crucial when becoming a contractor, not just from a financial point of view, but also from a personal branding point of view. “You have to be comfortable with what your abilities are,” said Pope. “You almost have to learn how to market yourself and how to sell yourself in a slightly different way as an employee.”
Not only does this mean you have to be comfortable with selling yourself, but you need to know how to sell yourself and how to market your results. For example:
‘I did a six-month contract, I went in to completely restructure a sales team and in that six months, I put a performance management plan in place, I brought in new, really strong sales consultants on the basis of really defined interview processes and competencies, I rolled out new sales processes, I drew up new sales manuals, I coached managers, I coached the team and by the time I was done we had increased the revenue from X to Y.’
“Planning is the number one thing,” added Pope. “Six to eight weeks before the end of a contract, you have to work consistently well but you also have to start looking for your next opportunity.”
Another thing first-time contractors need to start doing straight away is networking. This is critical because a lot of contracting work flows from recommendations. “Go to networking events, go to forums, go to conferences and meet people,” said Pope.
Aside from developing a strong network and becoming more visible, this will also help you learn about what the market looks like and what’s in demand. “Keep yourself on top of what’s happening outside of your contract, because you are more than likely going to be looking for something else at the end of it.”
There is a number of different routes you can take when it comes to contracting and they all will give you different results, different experiences and different risks. “If you’re thinking about contracting for the first time, be aware that a nice way to test a contract would be to work as an agency employee for a six-month contract. There are also great ways of not taking the full risk of being self-employed,” said Pope.
“Talk to all the experts, talk to us, find out what it would be like under an umbrella company vs a limited company vs with an agency, etc. and understand what that means.”
There’s a lot of detail about contract work that you should get familiar with before diving in and it can seem quite daunting, but Pope said any good recruitment consultant will be able to talk you through these options and keep you informed the whole way through the process.
“We’re on site all the time, we’d be out almost re-interviewing candidates we’ve worked with two or three times before to be able to put them immediately into something else when a contract ends,” she said.
“There should be engagement throughout, your consultant should be aware of what you’re working on, they should be aware if the role or project requirements change so that they will know better than anyone else how to sell you to their clients going forward.”
Interested in learning more about becoming a contractor? Contact Sarah Pope, contract division manager at RECRUITERS by email at sarah.pope@recruiters.ie or on the phone at +353 1 632 5045.
Feeling confused about your career? We’ve got everything you need to know about progression, new jobs and happiness in your career right here.
By Amy O'Dowd
Amy is the Contracting Program Manager of RECRUITERS
Laptop photo by Bruce Hong on Unsplash
