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Carol Bates
Executive team
London
Why interim?
What does the Interim market offer to candidates?
Candidates are often unaware of the Interim market and its benefits until later in their career, when they have gained the confidence and the gravitas to take the step into this robust marketplace.
Candidates are often drawn to the Interim market, due to three main reasons:
1. Lifestyle decision. People often find themselves competing for such immediate roles unexpectedly, when their personal needs become more urgent due to redundancy, breaks for travelling, and various other circumstances. It’s an immediate answer to unemployment, with work available across sectors, and with little bias towards candidates from one background to the next.
2. Working in such a buoyant market currently, we are seeing more candidates taking advantage of the opportunity to gain alternative sector exposure, without the commitment of a permanent role.
3. Money is proving to be a prominent reason to choose Interim over Permanent, particularly at the senior end, where salaries can be up to 30% higher. But even at the more junior end, contract or hourly-rate salaries can be 5-10% higher than permanent roles. Clients are paying for an immediate expertise, for an individual with the adaptability to arrive in a foreign environment and add significant value.
Possible concerns
Candidates within the early stages of their career particularly worry about how interim work may affect their CV and subsequent career prospects. But one thing people often forget is just how many interim assignments are extended or made permanent for the right candidates. (Obviously this is not applicable for the more senior career interim.)
The admin required
Enquires are often made about the benefits of being a Limited Company or PAYE. Interims can choose whether to become self-employed or register themselves as a Limited Company (which entails paying employer’s tax rather than income tax). There are various companies that offer specific advice on these areas, such as Charterhouse Group International (www.charterhouseplc.com) or First Contact (www.1stcontact.co.uk).
So from placement to start date, what does the candidate need to do?
It does not actually make any difference to the terms of employment, or involvement of the agency, if an interim is a Limited Company or not. There are still documents that we need, and you will still be paid by Frazer Jones on a weekly or bi-weekly, basis.
As a PAYE or Limited Company candidate, you will receive a letter from us upon placement, along with our Contract for Services and several blank timesheets (your timesheet is to be faxed back every Monday).
PAYE: Together with the signed Contract for services, we will need your P45 and details of your bank account for payment purposes.
Limited Company: Together with the signed Contract for Services, we will need a copy of the Certificate of Incorporation, VAT Registration Certificate for your company, and details of the company bank account for payment purposes.
