As an agency, you know that your contractors are the lifeblood of your business. They are the ones who deliver the work, and their satisfaction is essential to your success. But as a business owner, you also have a lot of other things to worry about, like compliance, administration, and payroll. That’s where umbrella companies come in.
Umbrella companies are businesses that act as the employer of record for contractors. This means that they take care of all the compliance and admin work, so you can focus on running your business.
Here are 10 reasons why agencies should use umbrella companies:
- Reduced Risk: By working with umbrella companies, you can transfer a significant portion of the legal responsibility for your contractors onto them. This can significantly reduce your exposure to any potential employment-related legal or tax issues.
- Improved Compliance: Umbrella companies are experts in employment law and tax compliance, so you can be confident that your contractors are being paid correctly and that you are meeting all your legal obligations.
- Streamlined Administration: Umbrella companies handle all the admin work, such as payroll, invoicing, and tax returns. This frees up your time to focus on other aspects of your business.
- Improved Efficiency: Umbrella companies can help you improve your business’s efficiency by providing a single point of contact for all your contractor needs.
- Enhanced Contractor Satisfaction: Umbrella companies can help to improve the satisfaction of your contractors by providing them with a range of benefits, such as sick pay, holiday pay, and pensions.
- Enhanced Agency Reputation: Using an FCSA-Accredited umbrella company can help strengthen your agency’s reputation by demonstrating your commitment to compliance and good employment practices.
- Increased Flexibility: Umbrella companies offer a lot of flexibility. You can choose the right package for your needs and change your package or leave the umbrella company at any time.
- Reduced Costs: Umbrella companies can help you to reduce your costs by providing a more efficient and cost-effective way to manage your contractors.
- Increased Peace of Mind: Using an umbrella company can give you peace of mind knowing that your contractors are being taken care of and that you are meeting all your legal obligations.
- Enhanced Professionalism: Umbrella companies are professional organisations that the government regulates. This means you can be confident that they will provide a high-quality service.
Why Choose an FCSA-Accredited Umbrella Company?
Freelancer and Contractor Services Association (FCSA) is a membership body for professional employment service providers. FCSA’s accreditation scheme ensures its members meet the highest compliance standards.
We recommend using an FCSA Accredited umbrella company if you are an agency. This will give you peace of mind knowing that your contractors are being taken care of, and it will free up your time so you can focus on running your business.
FCSA Accredited umbrella companies must meet several strict criteria, including;
- They must comply with all the relevant regulations.
- They must have a good reputation in the industry.
- They must be transparent about their fees.
If you are looking for an umbrella company for your agency, we recommend choosing an FCSA Accredited company. This will give you the peace of mind that you are working with a reputable, compliant, and reliable company.