Rate increase?

[edison]

Was a sole trader, went Ltd before this contract.

That's fine, but all the more reason to start adopting more of a limited company and supplier mindset.

[BlasterBates]

This thread seems to have gone off topic. The question is about a rate increase.

You probably can justify a rate increase; I suspect however they'll knock you down to a modest rise. Generally it is much easier to get a substantial rate increase by getting a new contract. I would put feelers out, talk to agents and get interviews. That way you'll find out your market rate.

[SoleTrader]

This thread seems to have gone off topic. The question is about a rate increase.

You probably can justify a rate increase; I suspect however they'll knock you down to a modest rise. Generally it is much easier to get a substantial rate increase by getting a new contract. I would put feelers out, talk to agents and get interviews. That way you'll find out your market rate.

So if you got an interview followed by a better offer - would you serve your notice on current contract?

Have been doing this but it seems agents are usually put off when they know or think you're currently engaged.

[edison]

This thread seems to have gone off topic. The question is about a rate increase.

You probably can justify a rate increase; I suspect however they'll knock you down to a modest rise. Generally it is much easier to get a substantial rate increase by getting a new contract. I would put feelers out, talk to agents and get interviews. That way you'll find out your market rate.

Err, that's more or less what I said just a couple of posts earlier in the thread

[ladymuck]

So if you got an interview followed by a better offer - would you serve your notice on current contract?

Have been doing this but it seems agents are usually put off when they know or think you're currently engaged.

How have you switched contracts in the past? Do you let them end and then only start looking for the next one when benched?

How long is your notice period? Any more than two weeks is usually too long unless the agent knows the client has a lengthy onboarding process.

[PerfectStorm]

So if you got an interview followed by a better offer - would you serve your notice on current contract?

Have been doing this but it seems agents are usually put off when they know or think you're currently engaged.

Tell them you're available then. After all - something could come up in the interim. A plumber doesn't refuse work because you've asked them about the mere possibility of fixing your bath in a months time.

In comparison with the lies that are told by every recruitment agency to some degree, it's nothing and there's nothing they can do about it. You'll know when you're about to receive a contract, and you could serve notice then or work both during the cutover. You'll probably be waiting 2 months for your laptop anyway.

[andymalory]

The way to think about this is how would an SME of say 20 people behave when faced with a similar situation? A few suggestions to consider below:

1. Consider adding benchmarking clauses to your contracts that state you have the right to benchmark every 12 months, and if the market has moved, you reserve the right to adjust the rate.
2. Add inflation clauses to rates.
3. Look at taking on another 1-2 clients, if only for the sole purpose of being able to state that other clients are absorbing your capacity and attention due to higher margins - its simply becoming a more competitive market.
4. Look to introduce long-term discounts from the current rates.