Next Generation Contractors

Independent professional contractors are an invaluable asset to the Irish workforce. Their expertise, unique skillsets and specialist industry knowledge are prized among Ireland’s most esteemed employers. They’re an indispensable resource for many firms across the domestic and multinational markets and are involved in a diverse range of projects in every nook and cranny across our broad public sector.

A quick glace from O’Connell Bridge will reveal a panorama of stylish, glass-panelled architecture, behind which contractors are helping to drive some of Dublin’s most ambitious projects.

As we discussed in a previous post, Ireland’s contractor headcount has hit upon a sharp, upward curve as more young professionals realise the benefits that contracting offers: contracting is a great way to develop a wider array of skills, network effectively, and most perhaps most pertinently, maximise pay potential.

The traditional binary employer-employee relationship that existed pre-recession isn’t cutting it for some, especially the under-35s – school and college leavers – who may have lost out on opportunities between 2008 and 2013. Contracting allows participants to build large repertoires of recession-proof skills they can call upon should another downturn develop, and to recoup earnings that may have passed them by.

Contracting is a flourishing enterprise in which growth needs to be encouraged. In the last while we’ve witnessed a gentle drip of economic initiatives aimed at bridging the welfare divide between the employed and self-employed: the introduction of Jobseekers Benefit and access to the invalidity pension being the key two measures passed in this Government’s term. We’ve also had setbacks, though.

There is legitimate concern about low paid workers. While initiatives to safeguard the rights of employees are always welcome, it’s vital that they do not impinge on professional contractors’ ability to work and earn a living. Hiring contractors is a savvy, business-friendly way for a company to improve the efficiency of its projects, to tap into knowledge and expertise that may not be available in its existing pool of staff, and to mitigate costs.

While some vulnerable workers require protective measures and it’s understandable that the Government want to legislate to protect them – it’s vital that contractors are not caught in the crossfire.