Contractors are becoming increasingly important in telecommunications, media and technology. A large number of companies are now looking for more agile, scalable talent solutions to meet the sector’s changing needs.
With the importance of contract workers in evidence, it is surprising to find that a lot of companies simply aren’t doing enough to retain contractors and this is having a massive effect on their business and their ability to hire the top talent.
To combat this, we’ve spoken to our extensive network of contract workers to find out what it is that makes them leave jobs and how you can make sure that you retain your most talented contract staff.
The most common complaint amongst contractors is the levels of bureaucracy they have to deal with both when carrying out their duties and when trying to manage their contracts and payment. Across all geographies and all market areas contractors reported that high levels of bureaucracy had slowed or entirely prohibited them from doing their job. A lot of contractors’ complaints are about things such as sign off procedures for laptops, passes and car parking spaces, which while not hugely important in the grand scheme of things, they all add up to create a negative work environment and one in which contractors are often unwilling to stay.
2.Slow payment of invoices and expenses
It is not unreasonable to expect prompt payment for your work and yet a number of contractors reported constantly being paid late. A lot of these delays are due to inefficient and unnecessarily bureaucratic processes and procedures. A quick and efficient payment procedure will keep your contractors happy and news will spread to other contractors who will be happy to join your organisation because of your positive reputation.
3.Slow contract extension
It is very common for companies to extend temporary workers’ contracts. Projects overrun and talented individuals are moved onto other projects to keep them and their skills within the business. Despite this a lot of contractors admitted to being constantly frustrated by the extension process in their company. In a number of instances contractors reported having to down tools and go home because they didn’t have a contract in place and could no longer work. While an impromptu holiday may sound fun, constant uncertainty about their continued employment has forced a number of contractors to seek employment elsewhere.
4.No development opportunities
Contractors are very different to full time employees but do have a number of similarities. Like their full time counterparts, contractors want to know that their career is going somewhere and that they are developing as a professional. This doesn’t necessarily mean that they want to climb the corporate ladder or that they are after a huge pay rise. What it does mean is that they’re keen to learn new skills, take on more responsibility and work on exciting projects.
5.Talent likes talent
Losing contractors is a slippery slope. Talented individuals like working with other talented individuals. If you start to lose your most talented people, you may end up losing them all. If you struggle to keep hold of your most talented contractors you may find it hard to attract more. Consider changing the way you recruit contractors to focus more on bringing in talented individuals than filling specific job titles.
If you want help attracting the most talented contractors to your business and retaining them for as long as you can, get in touch with Vine Resources. We’ll offer you all the help and advice you need along with access to our expansive network of highly talented telecommunications, media and technology professionals.