Setting Up As A Contractor
Tips for Setting up a Career as a Contractor with RWA
Working as a Contractor is very much like running your own business. That means you’ll need to consider all the aspects that other business owners do, such as:
- Finances – Do you have enough capital to cover all living expenses before being paid? Discuss the payment terms for your contract assignment with your RWA Consultant. Save enough to allow for downtime when not earning. Take the time to put good systems in place to manage your invoicing and collections.
- Insurance – Check whether your insurance covers your earnings in case something goes wrong. Consider Professional Indemnity and Public Liability cover.
- Taxation – Plan to put aside a portion of each payment in a separate bank account to account for taxes. Research what you can and can’t claim for and seek an accountant’s advice if necessary.
- Marketing – What brand and image do you wish to portray? How will you build your brand?
- Business Development – How will you market yourself? Use LinkedIn and other business social networks and groups. Keep future work in mind and have a strategy that ensures you receive notification of work ahead of your competitors.
- Business Improvement – Try to up-skill yourself on a regular basis so that you are consistently marketable.
The responsibility of working as a Contractor is yours. As you are not a permanent staff member, a change of mind-set is often needed. When you start your next contract assignment, always think about how you can create a positive, professional impression. Try to fit into the company culture as quickly as you can while delivering top quality work.
Questions a New Contractor with RWA May Have
- Can I claim expenses?
Expenses incurred are reimbursable only if you have pre-arranged this with your Client Manager and you keep your tax receipts. Contact RWA for details on how to make a claim.
- What if I’d like to take some leave?
Please discuss your leave with your Client Manager initially and then with your RWA Consultant. Register it in WFM by logging leave against the non-billable “Contractor Absence” task.
- What if I’m sick and need time off?
Please inform your Client Manager and let your RWA Consultant know as soon as you can.
Contractor Terms and Payment
- When do I submit my invoice?
Please submit your invoice to RWA at the end of the agreed period. We pay by direct transfer into your nominated bank account.
- When do I get paid?
Please discuss the timing of your invoice payments with your RWA Consultant before you commence your assignment.
Renewal of Contract
- How does my contract get renewed?
Approximately six weeks out from the end of your contract term, your RWA Consultant will liaise with you and the Client to discuss whether the contract is likely to be renewed. If it is, a new assignment confirmation will be produced for you to sign.
For important Contractor information and instructions on using Workflow Max (WFM), click here to read our welcome letter.
If you’d like a more detailed guide on Contracting and other useful recruitment tips, head on over to our blog. And don’t forget that our team is always on hand to answer any questions you may have about working as a Contractor for RWA, so don’t hesitate to contact us today if you need any support or advice.
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