Contract rate cuts

[lukemg]

My view is this - I totally object to cuts mid-contract but would be happy to re-negotiate for any renewal offered. This seems fair.
If ordered to cut rate mid term, I would more than likely accept this to keep the revenue coming in. I realise this inertia is what enables companies to do this, if everyone walked they wouldn't dare but I am worried only about me.
Once I had been turned over, I would be looking for another contract and while I would still maintain standards for the existing contract, I would NOT be pulling out all the stops, accepting calls outside of work etc and I would have no qualms walking off if I got a better offer. If this is worth a 10% saving to them - fine.

[swamp]

My view is this - I totally object to cuts mid-contract but would be happy to re-negotiate for any renewal offered. This seems fair.
If ordered to cut rate mid term, I would more than likely accept this to keep the revenue coming in. I realise this inertia is what enables companies to do this, if everyone walked they wouldn't dare but I am worried only about me.
Once I had been turned over, I would be looking for another contract and while I would still maintain standards for the existing contract, I would NOT be pulling out all the stops, accepting calls outside of work etc and I would have no qualms walking off if I got a better offer. If this is worth a 10% saving to them - fine.

^^^ this.

I suspect that companies who have mid-term cuts, and particularly repeated cuts, will find they will tend to lose the best contractors.

It's a bit like in permie-land when companies offer voluntary redundancy. It's a well known problem that only the best and most valuable employees take up the offer, because they can get jobs elsewhere.


Oh, and there is also a Prisoners' Dilemma going on here, for those who like to mull over such things.