For the regular independent contractor, living with the uncertainty between contracts is something that takes some getting used to but how would someone who has always had a permanent role suddenly feel about not having the certainty of regular work? Having dealt with a number of Contractors whilst at WNIC, each one is different and have their own ideas on what they want to achieve from start working as an independent contractor.
Employee or Independent contractor?
As a independent contractor, being competent at the technical skills and hoping to provide that to your clients is key but is that really the number one priority for all contractors? Many that I have spoken to say being technically competent in the role is just one small factor in being successful when taking on a contracting role, especially if they are moving from having always been permanent to contracting.
Contractors that I have spoken to believe that being open-minded, being approachable and easy to talk to are some of the key factors to being successful. Contractors may only be on site for 3-6 months, therefore forging good relationships quickly at the outset with colleagues is fundamental to making the contract work for all parties. Of course, working hard also helps!
New independent contractors need to focus on the advantages of their role and adapt to new way of working. Contract work offers a greater independence and for many contractors it helps them maintain a good work life balance. Less commuting in some occasions, working hours that suit you and also not getting involved in the office politics!
What are the Contractors’ benefits?
Many new to the contracting world may not realise that getting their tax compliancy/status in their country of work is vital to having a successful contract. The independent contractor in the past have been caught up country chain laws where they have built up a tax liability in their country of work and not remitted their taxes correctly. This is an area in which WNIC has helped contractors gain peace of mind while they have focused on their contract.
What is a Contractors’ profile?
- Having the right professional qualifications and skills for the contract.
- Enthusiastic and able to adapt to business changes quickly.
- Understanding tax residence status when working in different countries.
- A self-starter and able to work independently without constant observation from line managers.
- Being confident and a great communicator.
- Being at ease when away for long periods of time from Family and friends.
- Relaxed with hotel living.
- Comfortable living with the uncertainty of regular contract work.