A new report into the UK interim market for communications and marketing has revealed that engaging contractors on an interim day-rate basis can be cheaper than fixed-term contracts (FTCs).
VMAGROUP’s latest report into the UK interim market for communications and marketing busts a myth widely held among communications and marketing employers – that hiring contractors on an interim day-rate basis is more expensive than fixed-term contracts (FTCs). Instead, the opposite appeared to be true.
The Bridging the Gap report, compiled by the leading international interim and permanent recruitment and executive search specialist for communications, digital and marketing, illustrates how cost-effective a professional interim on a day-rate basis can be.
Among the findings were that some 55% of interim assignments are focused on specific projects required by organisations, and such projects are on the rise; interim workers tend to be highly experienced, with 61% of respondents having worked in those professions for more than 15 years; and 56% will continue to carry on contracting on a day-rate basis after the introduction of IR35 legislation, 23% of respondents will carry on contracting on fixed-term contracts and 21% will return to permanent employment.
Andy Macleod, associate director of UK Interim Communications and Marketing at VMAGROUP, commented:
“There is a common misconception that hiring interim professionals on a day rate is more expensive than fixed-term contracts. Whilst every situation is different, in reality, organisations can actually save on costs by hiring an interim on a day-rate basis and will often benefit from hiring a more senior professional with relevant experience who can manage the assignment in a three- or four-day week.”