Once you have made the decision to move from being a permanent employee and become a contractor, there are a number of steps you can take to help ease the transition. It is first of all imperative you update your Curriculum Vitae ensuring it is clear and concise and most of all up-to-date. Your CV is your primary sales tool. Ensure you upload it to all online databases and job boards.
You need to do your research and find out what is out there in the contractor marketplace. Job boards have become very popular over the last few years and should definitely be the first place to look for a contract. By looking through the job boards, it will help you give a sense of the current marketplace and what is out there for contractors like yourself.
Also make use of social networking sites, such as Twitter, where you can ask other contractors how they are finding the current marketplace and also if they know of any contracts or good recruitment agencies. Forums dedicated to contractors will also help you find out what the ‘hot topic’ is in the marketplace and what you should be concerned about.
There will often be a lot of advice from other contractors on there that you may find helpful. However, when it comes to legal and accounting advice, make sure you get expert advice from qualified people. Independent Contractor Services Ltd (ICS) provides accountancy and administration services to the contractor marketplace and can offer expert advice.
When you choose to become a contractor, you also need to research how much other contractors in your field of work are charging their client. This is so you can decide what you will charge clients, whether it is an hourly or daily rate. By using the Permanent to Contract Calculator and Contractor Calculator can also help you to determine your rate.
The contracting market has different cycles that you should be aware of. There are also two annual cycles, which are driven by the financial year and holiday seasons. It is important you get the timing right for your transition into contracting. When you choose to leave your permanent role, you should always try and keep a good relationship with that employer.
It is now time to start searching for your new contract. There are articles on here which offer advice on networking and agencies but also use those job boards you looked at to research the marketplace. Whether you decide to find your new contract yourself or through the help of an agency, ICS can offer accountancy advice once you have secured that new contract. For more information, visit the website or alternatively telephone 0800 195 3750.
