Even with job numbers on the uptick, many companies have opted to freeze fulltime hiring. While this is often an effective way to save money, it’s resulted in many businesses having more contract workers than fulltime employees. Additionally, since contractors are often used on a temporary basis and not provided with salaries or benefits, they often lack incentive to go above and beyond for their employers. After all, if there’s no room for advancement, what’s the point? If your business regularly works with contractors and wants to encourage them to put their best foot forward, consider providing the following incentives.  

Contract Extensions

If you’re consistently impressed by the work of a certain contractor, consider extending his or her contract with your business. Even if this arrangement doesn’t guarantee a salary or benefits, it provides contractors with a little bit of job security – something that most contract workers crave. Not only will this make contractors adopt a more favorable view of your enterprise, it will inspire them to put forth their best effort while in your employ.

Companies that regularly enlist the services of contractors would be wise to look into Exari contract management software . With the help of this cutting-edge software, you’ll be able to effortlessly and efficiently organize a plethora of contracts, employee records and other pertinent documents.  

Pay Raises

Businesses that consistently work with the same contractors should consider offering pay raises to their top-performing workers. In addition to putting some extra money in their pockets, this will show your contractors that you appreciate their efforts and that their hard work has not gone unnoticed. Increased pay rates will also help ensure that your regular contractors prioritize assignments from your company over those from other clients. This can be particularly helpful if many of the contractors you work with are in high demand.

Promotion to Fulltime Employee

Offering fulltime positions to your most dependable contractors is the ultimate incentive and a great way to express appreciation for their efforts. Of course, not all businesses can afford to do this, but if you have sufficient funds and a certain contractor has proven him or herself worthy of your trust, why not bring them aboard fulltime? This will show the other contractors you employ that a fantastic award may await them if they work hard enough. Contractors often feel as if their efforts count for nothing, and there’s no better way to dispel this notion than by helping reliable individuals make the jump from contractor to fulltime team member.

As any seasoned contractor can confirm, working on a contract basis can often feel like an exercise in futility. Sure, you’re making money, but in most cases, your pay is substantially less than that of a fulltime employee, and you’re unlikely to receive any benefits. Unless you truly love what you’re doing, there isn’t much incentive to excel at your work. Companies that wish to address this issue and provide contractors with something to work towards would be wise to put the previously discussed pointers into practice.