Offshore Umbrella companies have gained a lot of popularity among agencies because of the benefits they provide. A great umbrella company should provide all its contractors a hassle free working life. In fact, contractors protects businesses from excessive taxing. Also, it should offer its agency partners hassle free contractors. Below are some of the benefits that the companies provide to agencies and the recruitment sector.
You are covered
Most umbrella companies will have all your contractors fully insured. This means that every contractor sent to you is fully covered for every eventuality that might arise. This gives you peace of mind because you know that in the case of injuries or other things that might happen to your contractors, you are not held liable.
Management of payroll
The other good thing is that the companies will take care of everything to do with the payroll. The agencies will get their usual fees, but the umbrella company does all the other work. The company will manage all aspects involving the payments. This gives you more opportunity to focus on recruitment of their workers.
Get free back office agency support
When you work together with an umbrella company you get the benefits from all the back office employees and support of the umbrella company. They are there to assist the contractors in any way they want. This could be aspects related to taxation, employment issues, breaches of contract or other expenses. In all these ways the umbrella firm would help you, so leaving your agency to focus more on your work.
Receive a committed account manager for your agency
A large percentage of umbrella firms provide a dedicated account manager for your agency. They value your agency, just as they do with their contractors. You will get a committed account manager to assist you with anything that comes up.
How to choose the best umbrella company
To enjoy the above benefits, it is necessary to work with the right offshore umbrella firm. The first thing you should consider is the number of years they have been in the market. By considering their experience, you will understand if they will offer you satisfactory services and results.
Consider the reputation they have with other agencies, so that you can understand if you can trust them too. The fees charged for the services should also be affordable and reasonable for your agency. Great offshore umbrella companies should also show commitment towards developing long lasting work relationship with your agency.