As 2023 progresses, high demand for talent in the tech sector shows no signs of letting up. The pace of technological development in recent years has left businesses constantly playing catch-up. The hiring market in the last two years exemplifies this, with employers looking to save money whilst locked in fierce competition for a limited pool of candidates.

Talent supply in the permanent market is simply insufficient to meet demand. At Michael Page Technology, our consultants have had conversations with employers who have spent as long as a year attempting to fill a particular permanent role. Add into the mix some market complications, and these hires can very often end up being made redundant. 

Delays in hiring the right skills to deliver on technology projects leave organisations unable to unlock their full potential – unless they take a different approach. Today, we will be explaining why the answer might in fact be a shorter term one: a contractor, rather than a permanent hire. 

Access unparalleled quality

Many will not have considered contractors – but that doesn’t mean they aren’t an excellent solution. This is down to the highly specialised nature of the technology sector. As workers develop their skillsets, the variety, flexibility, and high earnings associated with contracting are very tempting for many. That’s why fishing in the interim pool gives businesses a far better chance of securing the people they need. 

Moreover, contractors are true specialists, with the elevated levels of quality and experience needed to meet employers’ high expectations, deliver on revenue generating projects and build a strong reputation in the market. 

Too expensive? Interim talent can actually save your organisation money

If you are trying to get a project completed within a certain timeframe, interim talent may be a better – and more cost effective – option than making a new permanent hire. Contractors are highly specialised, and adaptable. They are also used to parachuting in to support organisations at short notice, which means they can hit the ground running, right from day one. 

Michael Page Technology recently saw an excellent example of this in our work with a prominent UK retailer. The business was rolling out a D2C eCommerce platform, and needed to move fast so they could start generating essential revenue. Our team helped the client hit their targets by sourcing a seasoned change director on an interim basis. They were able to jumpstart the project immediately, saving valuable time for the business.

A new permanent hire on the other hand, usually requires more onboarding, and will likely need input from your existing workforce to get up to speed. This creates delays and reduces productivity, potentially impacting your team’s ability to meet deadlines, and damaging its reputation with customers. 

It is also important to remember that the longer timelines of a permanent hire could negatively impact your current staff. The ‘Great Resignation’ is far from over, with our recent Talent Trends survey finding that 50% of employees are either currently looking or planning to look for new opportunities in the next six months. Without support to close the gap, your workforce will have to pick up the slack, leaving them overworked, disillusioned and potentially looking for new roles – leaving you in a worse position than before.  

What you need to consider when hiring interim tech talent

If you are thinking about hiring interim professionals, there are a few important factors to make sure you’re taking into account:

Accessing a global talent pool. One big benefit of flexible working arrangements is that they will allow you to take advantage of a truly global talent pool. To make this easier for clients, Michael Page Technology has established teams in tech ‘hubs’ around the world, allowing us to source the highest quality contractors from a global network. 

Flexible working. Whether you’re a tech-based organisation or operate in another industry entirely, candidates with the skills you need are probably used to working in the more flexible environments of the tech sector. Every company has its own solutions and policies. But offering more flexibility – particularly for more technical roles with limited person-to-person responsibilities – can help to widen your talent pool. 

IR35. We would also advise you to be flexible when it comes to the type of contract on offer. Many employers opt to err on the side of caution and take on talent falling ‘inside’ IR35. However, with such intense demand for tech talent, it’s worth being accommodating – the majority of tech contractors work through limited companies that are structured to take on work ‘outside’ IR35. 

How can Michael Page Technology help you?

At Michael Page, we are set up to service PAYE, umbrella and limited company contractors. We have also partnered with a third-party IR35 consultancy to provide organisations with an extra level of reassurance when it comes to hiring interim talent. Businesses that work with us can review IR35 determinations via a portal and even take out insurance to protect themselves. We also have specialists to support on a consultancy basis and manage statement of work projects.

We provide a boutique experience with global backing, which means that we can draw on large networks worldwide to find you the right interim professionals quickly. We can typically turn around a shortlist within 24-hours, and provide guidance on IT delivery across numerous verticals. This will allow you to take a joined-up approach to your interim hiring, saving you precious time to focus on other priorities.

Interested in working with us? Get in touch with the team today:

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