There are lots of advantages for using freelancers within your businesses; they are flexible, motivated and can add skills and experience to your existing team. In turn, freelancers enjoy the lifestyle of choosing who to work with and when. But for all their hard work, there are no extra benefits rewarded to them like employees on a company’s payroll.
Here at Proffy, we’re championing a cashback pension scheme , that rewards freelancers who save into a pension. With big plans for this to eventually match standard contributions at 3%, we hope it’s just the beginning. But what can other companies do to support freelancers in a similar way? Here are some ideas to inspire you and that won’t comprise your IR35 compliance.
Offer financial services support
You may have an accounts team that look after your own financial affairs, but a freelancer doesn’t have that same support. Most will look for an accountant to support them with filing their tax return for example, so if you have the skills in house to help a freelancer with this, at an attractive rate of course, then this could be a wonderful way of giving them a benefit of working with you. The freelancer gets a service they can trust and your business goes to the top of their list when it comes to planning who they will work with in the future.
Share your work space
Many freelancers love working from home, but can miss the company and water cooler based chat sometimes. If you have a spare desk, why not offer it to your freelancer in a co-working arrangement, outside of the hours they work for you? They can expect to pay towards using the space and office facilities, and your team will get to spend more time with them which is always good for building long term-relationships.
Build their pension pots
Whilst you can’t go adding freelancers to your company pensions scheme, you can offer them benefits for their pension by working with a third-party company who offers cashback. Here’s one we prepared earlier! It’s an ideal way to attract the best freelancers to your business, if you can offer them regular work and they sign up to the platform, they’ll receive their annual cashback.
Pay them on time
This is probably top of the list for what makes a freelancer happy, so if you can pay them on time, do so and shout about it. They will sing your praises to everyone they know, as unfortunately it’s not common practice. Make a point of telling freelancers your accounts team are super slick, when you first chat to them about projects. It’s a point of difference that will make you stand out as an employer and help you attract top quality freelance workers in return.
If you liked this blog post, why not read: 6 of the best project and finance apps for freelancers