Good Contract Renewal Time Rise – Eight Steps to Getting One

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Good Contract Renewal Time Rise from agency and client
Good Contract Renewal Time Rise for UK contractors

Good Contract Renewal Time Rise

It’s crucial that you get a good contract renewal time rise.

Here’s eight steps to getting one:-

Start IT Contract Well and make Your Reputation Early

Once you‘ve started the job, knock yourself out for the first month to get yourself a good reputation.

Once you‘ve made a reputation, good or bad, it will be very difficult to lose it.

Contractors Getting Renewed
Contractors Getting Renewed by clients

Treat Project Manager Like Customer

Once you‘ve made yourself a good reputation, try to ingratiate yourself with the boss a bit, or certainly with the one who is going to be responsible for your renewal, and who knows what cut the agency are taking.

Some bosses won‘t tell you this last piece of information. However, the better you get on with them (or the more inebriated that you get them), the more likely they are to cough this precious piece of information up.

Pump Secretary for Information on Rates

An alternative source of information will be the boss‘s secretary. She (or he) will have the information.

She (for it is usually a she), will also find it difficult to keep this piece of information to herself. That’s especially as someone else wants it so much.

However, she will not give it to you the first time that you ask. But she will eventually, ‘as long as you don‘t tell anyone that I told you‘.

Of course you won‘t. You don‘t need to tell anybody. You just need to have that information.

Get a Good Contract Renewal Time Rise

If you‘ve done a good job (or got a good reputation, or they like you), the chances are that they‘ll renew you.

Now you must make sure that you get a good contract renewal time rise. In fact you must get two good increases, i.e. one from the company and one from the agent.

Take your boss out a couple of weeks before you are up for renewal. Wine him and dine him (or her).

If you don‘t want to do that, go out for a drink with him at lunchtime or in the evening, making sure that you buy the first drink.

Contractors don‘t do enough of this, but they should be salesmen for their business services, and do more of the requisite ‘˜sweetening‘.

Getting Rich from Agency Insolvency
Getting Rich from IT Contracting

Make Favourable Impression on Boss

Make sure that your boss has a favourable impression of you by the time he or she gets the suggested increase call from your agent.

The increase that you want from both the company and your agent, will be presented to your boss first.

Don‘t worry about upsetting him, he knows that it is a negotiation.

In fact the higher the figure that you put, the more likely that he is likely to come up with a higher figure than he originally wanted as a compromise.

That is human nature.

He may give you everything that you ask for, and that has happened before.

This would be a win for you, as you would still have some fat that you can cut from the agency at your next renewal.

Keep Boss Informed of Negotiations

Keep your boss informed. In most circumstances though, he or she will come back to the agent with some compromise deal.

Whatever this deal is, it should be acceptable to you – but you want more.

And the agency hasn‘t coughed up anything yet.

The important thing is not to lose your job over it.

Therefore, you must speak to your boss, and tell him that you will be renewing your contract, and to ignore anything that the agency will say, as it is now down to negotiation between you and them.

He is far more likely to be on your side than that of the agent.

Experts View on opting out of Agency Regulations
Opting Out of Agency Workers Regulations

Reject IT Contract Increase from Agency

You then tell the agency that your bosses offer is not acceptable to you. Say that you have been made a good offer elsewhere which you are considering.

You should tell your agent that you would rather remain where you are. However, you don‘t want to lose out financially, and that the other job is closer to home.

He or she will enquire as to who or where it is (it is an automatic reflex action for them), but you would rather not tell them – especially as it doesn‘t exist.

The agency will get back to the client and tell them that his offer is not acceptable to you. You want more (and possibly you have been offered another job).

Reassure Your Client over Contract Renewal

Your boss may get back to you for further reassurance that you actually are staying on.

If he doesn‘t, you should make sure that you ask him, when you see him, if the agency have been in touch.

You once again tell him that everything is fine, and that you are just trying to get some more money out of the agency, and that you are happy with what he has offered. If he says something to you like, ‘but they said that you had been offered another job’, just say ‘Did they?’ with a puzzled look.

Your boss will definitely be on your side if the agency are getting up to sneaky tricks like that, and you haven‘t lied either. You were just asking him a question.

IT Contract Renewal Rate Rise from Agency and Client

8. You now have all your chess pieces in play, and the agent either has the choice to let you go, and tell the client that you are going (almost unheard of), or give you what you want.

It is not considered good form to stand out completely for the figure you quoted, so you should accept a little less, just to give them a better feeling of well-being.

As I say, this is considered good form.

You would, of course, have added this bit on in the first places, as you would have allowed for this.

So, what’s the equation for a good contract renewal time rise?

The Equation is what you think your boss can afford + what you think your agency can afford + the bit you‘re going to take off later as a compromise.

Any Weaknesses?

What is the weakness in this?

Well, you have to be able to back it up with your ability and knowledge. You don‘t want to be the most expensive person at your site, as well as the least technically good.

Any weakness here as a contractor will have to be made up by ingratiating yourself to your boss (and that works equally as well).

It tends to be, though, that God didn‘t make good technical people to be good negotiators, and good negotiators to be good technically.

You have to be good at both to get a good contract renewal time rise.

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    Comments

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    1 COMMENT

    1. From Jonathan Da Silva:-

      I would agree. I take any role regardless of rate in my range. Better working than not. I have no interest in the companies I work for and with legacy skills milking for what I can. Not sure why the agent does not get this.

      But that is the run the agent is not mine. The late cuts to rate is that my agent or the company? Who is most important to the agent?

      I was upfront other week I could renew or take an offer if made. I said to agent if I am 2nd choice of two don’t keep me hanging on I am out. Instead I got something about no desk available and they would be along shortly. So I have honestly upset my current saying I may only do December and been honest with agent and gained what? Strung along?

      Truth is your agent is the company’s agent. They will sell lots of people to a company but may only sell you once in a lifetime. There is at a lower level imo no such thing as a contractor agent relationship.

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