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Things You Need To Know About Contracting



Whether you specialize in Credit Risk, Analytics, Data, Modeling, SAS, Insight, Data Management or Marketing Analytics, if you want to work on contract – this article will ensure you’re in the know.

The demand for contract workers continues to rise, especially within Data and Analytics, as flexible working becomes a way of life in many companies. Skills offered by professional contractors are highly valued by a wealth of organizations, many of whom see the procurement of short-term expertise as a key element in their recruitment strategy. Additionally, growing skills gaps in Data and Analytics have meant contract resource has become a necessity for many employers.


What is contract work?

Contract work means that you are not employed on a permanent basis by anyone (Apart from your own Limited Company). You have the freedom and flexibility to decide when you want to work and for how long. Generally within our sectors and industries of focus contract roles range from 3 month assignments to 2 year contracts.

In today’s competitive business environment employers are turning increasingly to contract professionals to provide additional resources as and when they are needed as well as securing harder to find skill sets for specific projects. In fact, for some Data and Analytics skills such as SAS Analytics, Web Analytics, Marketing Analysis & Credit Risk, there is a real shortage of talent and that’s where you come in.

In addition, the flexibility, choice and variety of experience you can achieve by fulfilling contract or interim positions mean that this is an increasingly popular career choice for many professionals. As well as the career choice, contract work can also be an ideal solution for those between permanent jobs, traveling or looking to return to work after a career break.


What are the options?

There are two main options for contracting – you can either set up your own limited company or go through an umbrella company. Which one is for you? If contracting is a long term career choice then setting up your own Limited Company may be the best option as it is the most tax efficient way of managing your income. However, if you are only going to contract for maybe 3 – 6 month with the intention of then getting a permanent job, the utilizing an umbrella company will potentially be your best choice.

If you choose to set up a Limited Company which is the most common route then you will need to:

Become familiar with the constraints of IR35 and what contractual agreements you should and shouldn’t enter in to. If you are paying taxes like a Limited Company, you will need to behave like one, for example restrictions potentially exist concerning how long you can provide services for one client. Also your Limited Company needs the right to substitute its employees with other consultants.

Get a good accountant. Don’t cut corners - you really should do everything thoroughly and by the book. This is a real hot topic for the Government at the moment and you need to be familiar with and comply with all the latest regulations.


Other considerations if your choose to contract

Think about the medium term when it comes to income, as a stable contract for 12 months at a market rate is far better than a very highly paid one for 3 months. It can take another 2 months to find that next contract and you could be unpaid for that length of time.

Be careful contracting through micro agencies (1 or 2 staff) if you can. If you do choose this route – you must credit check them. Some micro agencies can be financially risky - remember they are the ones paying you, not the client!

One of the big benefits of using agencies as well as an easy route to market for you is the fact they will normally pay you within 2 weeks of the end of the month you have just completed. Be aware contracting for companies directly can in many cases mean you are paid like a supplier and monthly invoices can take around 45 days to be paid in the UK.

 

Build your network

 

Lastly, build your network with all agencies, clients as well as other contractors.  However you choose to contract – you are now the sales function for you and your skills and your network will have the have the knowledge of where your next contract is.

Harnham blog & news

With over 10 years experience working solely in the Data & Analytics sector our consultants are able to offer detailed insights into the industry.

Visit our News & Blogs portal or check out our recent posts below.

Blockchain Technologies Find Fuel in the Life Sciences Industry

When Ford first introduced the assembly line, he could only imagine how it would affect the automotive industry. But what about how it could affect supply and demand within the life sciences industry? Automotive and similar factories have been converted before to help build items most needed. Not the least of which, today, is to help supply those in the life sciences industry with the PPE and medical devices they need. Demand is high. Supply is not. Enter blockchain technologies.  As health systems become overburdened and disruptions to ‘normal’ life occur on a global scale, it’s important to ensure critical resources are prioritized. So, what can businesses do to help ensure supply and demand are met in not only these critical times, but for the future. FIVE WAYS TO ENSURE SUPPLY MEETS DEMAND When it’s difficult to supply even the most in demand products, it’s time to take an assessment of various scenarios. These scenarios can help leaders predict what and when they’ll need certain products and critical items. Assess your scenario within the framework of increased disruption.What are your capabilities?Identify the most immediate needs to meet, any risks to be aware of, and take action.Determine any structural changes you’ll need to make.Prepare to pivot. Be aware you may be in a continuous cycle of determining risk, assessing where you are and need to go, any configurations you’ll need to make to get there, and any operational procedures to improve and move forward. By assessing, prioritizing, and visualizing, companies are able to craft a clearer scope of vision. The scenarios created can offer insight into key pieces of planning to help mitigate disruptions of supply chain processes. This crisis will have long-lasting effects and implications from how we work to how we assure supply and demand. It’s in these strange crosshairs, the life sciences industry finds itself at the center of this pandemic, and at the same time is the life force which has given blockchain technologies fuel to improve. No matter where you are on the spectrum of supply chain technology, there is calculated risk to every decision. Just because we’re easing restrictions now, doesn’t mean there won’t be an about face in the next few months, and what companies do between now and then is critical. Supply is already short. Now is the time to take immediate action to help mitigate risk for patients, providers, your clients, and your communities WHAT TO DO NOW AND HOW TO PREPARE FOR THE FUTURE The scale of risk is unlike any leaders have seen in recent years. Its speed adds to the uncertainty as numbers rise, decisions change, and most are left wondering what’s next. Businesses who respond quickly and confidently can help to alleviate some uncertainties, but can craft a plan crucial to understanding the complexities of blockchain within the industry. Strong data, analysis, predictive modelling can help to anticipate any further or potential disruption. Taking these steps can help make businesses more resilient in the future and also help them manage future challenges. It’s integral to have strong, responsive, and resilient risk management capabilities. To do this, your business will want to ensure their capabilities are technology-led platforms which support analytics, machine learning, and artificial intelligence. Whether you’re mitigating risk, preparing an assessment, or determining your capabilities, it’s important to ensure you’re transparent. We are all in this together. Even in business. Transparency builds trust as does assuring supply and demand by mitigating risk. It’s these things which will soon become the basics of business protocols. Business processes have shifted online, looking for your next job has become more daunting than ever before. But here’s the good news. Leaders, hiring managers, recruiters, and prospective employees are all navigating a new way of doing business and finding talent to keep those businesses running.  In the wake of work-from-home policies, remote working, and the shifting landscape of working outside the office, technology careers are prime opportunities to both gain increased knowledge in your chosen field or begin your career path.  If you’re interested in Big Data & Analytics professional opportunities, check out our current vacancies or contact one of our recruitment consultants to learn more.  For our West Coast Team, contact us at (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.  For our Mid-West and East Coast teams contact us at (212) 796-6070 or send an email to newyorkinfo@harnham.com.  

Karla Guerra

Karla Guerra

28. May 2020

How the Life Sciences Industry is Changing the Way We Work

In the race to develop tests and create vaccines, the Life Sciences have become leaders within the Data industry. Working in tandem with a variety of sources such as human capital, blockchain, Data, and Analytics professionals to get help delivered to where it’s needed most. This remains a critical time for the Life Sciences. As we work to flatten the curve and take steps to reopen the economy, the Life Sciences industry is also helping to empower the workforce for the foreseeable future. For many businesses, this means allowing remote working either through the end of the year or indefinitely. The ability for those in the Life Sciences industry to collaborate remotely widens the availability and offers more virtual engagement for patients, providers, and researchers without risk of contagion. There are four key areas in which companies can focus their efforts: Strengthen and empower your workforce and business community.Ensure demand meets supply.Leverage your Data to advance how patients are treated.Ensure technologies and processes are in place to virtualize patient/provider engagement. We’ll look at each of these over the next few weeks. So, how do you empower your workforce, build your community, and ensure continuity for your business? First, determine how you might best attract and retain talent for the problems to solve now and in the future. Five Ways to Ensure Workplace Flexibility for the Future Enable your employees to work remotely through digital, virtual, and collaborative technologies.Build a transparent culture through meaningful connection between healthcare providers, patients, partners, and vendors. Make sure everyone’s on the same page at every stage.Innovate new ways to interact through digital means and encourage business continuity through remote work, virtual AI to assist with customers, and evolve connections to meet strategic objectives.Widen your scope to collaborate across geographies at a global scale.Automate when possible to expand detection and response Life Sciences Brands Set New Standards for the World of Healthcare The sudden and long-lasting impact of COVID-19 requires brands to move more quickly than ever before to best serve their customers. It’s imperative customer operations offer quality, caring, and compassion particularly within the healthcare and by design Life Sciences industry. In order to offer the best care and treatment, Life Sciences brands must use the Data and Analytics information they’ve acquired from healthcare records, researchers, and more to ensure quality care for both customers and employees. In times of uncertainty and fear, leaders must make informed, swift decisions. Trust is paramount is work, research, customer and employee relationships move to and remain online rather than face-to-face. While our collective emotional state adds to the challenge, it also offers new opportunities to be forged. The work-from-home model is dependent on having the right secure technology. Employees and businesses need to feel as secure working from home as they would in an office environment. To create this experience and build trust, implementing networking infrastructures will be more important than ever before.  Put People First As important as secure technologies, solid networking infrastructures, and customer care are, the number one priority to ensure you can meet each of these is to care first and foremost, for your workforce. It’s this caring which will enhance your efforts allowing for business continuity as you also care for your customers.  We are all in unchartered territory these days, but leaders who put their employees first are building another level of trust. Understanding the unique intensity of caring for family members and managing wellness as well as navigating increased workloads for some of their employees may seem untenable. But when your workforce is armed with the latest information, assurance of frequent communication, and the chance to celebrate small wins and jobs well done, the people you care for will care for your business.  Business processes have shifted online, looking for your next job has become more daunting than ever before. But here’s the good news. Leaders, hiring managers, recruiters, and prospective employees are all navigating a new way of doing business and finding talent to keep those businesses running.  In the wake of work-from-home policies, remote working, and the shifting landscape of working outside the office, technology careers are prime opportunities to both gain increased knowledge in your chosen field or begin your career path.  If you’re interested in Big Data & Analytics or other Data professional opportunities, check out our current vacancies or contact one of our recruitment consultants to learn more.  For our West Coast Team, contact us at (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.  For our Mid-West and East Coast teams contact us at (212) 796-6070 or send an email to newyorkinfo@harnham.com.  

Hillary Tran

Hillary Tran

21. May 2020

Five Ways Marketing Analytics Help Businesses Plan For The Future

Small business. Big business. From Amazon to Zoe’s Restaurant, everyone has taken a hit during the pandemic. Some are closed indefinitely while some have been retrofitted to make masks, ventilators, or have even become makeshift labs to find a vaccine or a cure for the coronavirus. But what’s one thing all these businesses have in common? The need for marketing.  We’ve all had emails assuring us our favorite business is doing their part to flatten the curve. Others might explain they’re refocusing or redoubling their efforts to support front line workers, but they’ll return to business when they can, and small enterprises? Every sale is a bonus for them as they struggle to make ends meet and stay in business.  So, what are some ways that Marketing Analytics are helping these businesses both big and small plan for the future? They’re making use of marketing analytics. Shift Strategies. Build Community. It’s a virtual business world, but that doesn’t mean you should stop marketing, or that your customers aren’t still around. By showing you care about your customers whether it’s taking steps to sanitize surfaces or offering high-value content.  By shifting strategies from outbound to inbound, it’s giving your customers a chance to window shop, browse, and consider before buying. Whether they’re having to be cautious about their finances or not, how you present yourself to them, keeps them around for the long haul.  Being there for your customers shows them you appreciate them and care about them. And that you’re not just about the sale. This is the virtual handshake which keeps your customers coming back and gives them something to look forward to in the future.  Show Support. Express Solidarity. This is for both your employees and your customers. When you show support and express solidarity from within your company, it speaks volumes to your customers.  These are trying times for everyone, if you must close your doors, be clear in your communications. Be honest and explain what’s happening, if and when you hope or expect to resume operations, and stay positive.  Niche Market Analysis Determine who your customers are and how they might react in times like these. How they react can determine what you do next and how you do it for your business? As much as you should have an overview of your demographics, it’s also important to take a deeper dive. Knowing this information can help you plan the most effective marketing strategy for the future of your business. This kind of raw Data offers a wealth of information and resources to help you best analyze your information.  Gather Data. Track. Analyze. This can help you get an overview of what’s working, what isn’t, and how you can pivot based on your customer’s needs. This time is an opportunity to assess, reassess, and pivot if needed to determine what works best for you and your customers. From here, you can refine your strategies, get creative in your ideas, test, and track.   Remember, Marketing is a process. Marketing is a long game. Have patience. Be consistent.  While the fruits of your labors may not be immediately felt, customers may feel of a sense of normalcy knowing you’re with them during this pandemic. Everyone’s in the same boat. We’re all in this together. Whether you’re a business on the front lines or have to close your doors for a while, using these strategies help not only your customers have something to look forward to, but you as well. As business processes have continue to shift online, looking for your next job has become more daunting than ever before. But here’s the good news. Leaders, Hiring Managers, recruiters, and prospective employees are all navigating a new way of doing business and finding talent to keep those businesses running.  In the wake of work-from-home policies, remote working, and the shifting landscape of working outside the office, technology careers are prime opportunities to both gain increased knowledge in your chosen field or begin your career path.  If you’re interested in Big Data & Analytics professional opportunities, check out our current vacancies or contact one of our expert consultants to learn more.   For our West Coast Team, contact us at (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.   For our Mid-West and East Coast teams contact us at (212) 796-6070 or send an email to newyorkinfo@harnham.com

Anais Dufour

Anais Dufour

14. May 2020

Life Sciences Data on the Front Lines

As states begin to lift restrictions, projections of cases and deaths, are expected to rise. Racing against the clock are scientists, Predictive Data Modelers, Bioinformatics Statisticians, and AI. Together with Machine Learning platforms, they’re working to find a solution to not only flatten the curve, but stop the virus in its tracks. And the first line of defense they’re turning to? AI. AI as First Line of Defense Against Covid-19 Once a challenge to humans as taking over jobs, AI is now at the center of cutting-edge technologies to track the pandemic. Combined with other technologies such as machine learning, bioinformatics, and other Data solutions, AI has become a first line of defense against the outbreak.  With the ability to filter through massive Data sets at a speed unmatched by humans, AI is working to crack the code of how best to treat Covid-19 patients. And to help flatten the curve? Some companies are using surveillance systems to help determine hotspots, track contagion points, and help to slow the spread of the virus. Experts understand computation prowess alone won’t solve this disease. But its speediness will ratchet up the information so we can avoid years of trial and error. AI and Big Data can help give research groups, pharmaceutical firms, and even private businesses, who’ve tossed their hat into the ring to help fight this pandemic, a leg up. Healthcare Analytics Enters the Fight While there is a risk to Data given to algorithms, some private sector businesses are willing to take the chance. This kind of information can help to predict future hotspots to catch the virus in its tracks and work to ensure it doesn’t spread out from these localizations.  Using the technologies we have in place like AI, Machine Learning platforms, Big Data, and Bioinformatics can help to speed up treatment, improve vaccines and pharmaceuticals, and offers near real-time solutions. As with anything involving large amounts of Data given directly into a machine, there is an urge to be cautious.  Hotspots on a map can pinpoint where the worst or newest cases have sprung up. This insight gives experts a 360-degree view of patients using Machine Learning. Using a wide array of healthcare Data such as X-rays, ER visits, medical codes, and more, a new tracking system shows hidden areas where outbreaks could occur but may not be expected catching the virus in its tracks. Monitoring is Critical as States Lift Restrictions Though coronavirus is not the flu, flu season isn’t taking any time off. So as the two viruses collide, it’s more important than ever to monitor the spread. This can ensure hotspots are pinpointed early, efforts to flatten the curve, and monitor flare ups should the arise as the country begins to reopen. Experts are working around the clock and using this clinical Data to inform their models. Predictive modeling, AI surveillance systems, and Bioinformatics used in healthcare Data are working together to find a cure. It’s important humans do their part, too. This just might be a best case scenario of machine and human working in cooperation toward a common goal. But one thing this world needs at the speed of light beyond AI to syphon through Data? Professionals who have the technical prowess to understand the machines and the human skills of communication to explain the analyses.  One Final Thought… Business processes have shifted online, looking for your next job has become more daunting than ever before. But here’s the good news. Leaders, hiring managers, recruiters, and prospective employees are all navigating a new way of doing business and finding talent to keep those businesses running.  In the wake of work-from-home policies, remote working, and the shifting landscape of working outside the office, technology careers are prime opportunities to both gain increased knowledge in your chosen field or begin your career path.  If you’re interested in Big Data & Analytics or other Data professional opportunities, check out our current vacancies or contact one of our expert consultants to learn more.   For our West Coast Team, contact us at (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.   For our Mid-West and East Coast teams contact us at (212) 796-6070 or send an email to newyorkinfo@harnham.com.  

Riley Hsia

Riley Hsia

07. May 2020

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