How to approach this with my boss
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You mean outsourcing your job for a much higher rate surely? He saves money having you off the books as an employee. 1)Because he saves on Employers Class 1 National Insurance, currently 12.8% of your salary, so on a salary of £40000pa he would save £5120pa. 2)He no longer covers holidays and sickness, he only pays for worktime. Between £3500-£4500 pa. 3)Redundancy cover. Should he not need you he just says piss off mate I haven't any work. Redundancy cover is about £8000 So he would need to pay you a lot more for you to cover this, and he would still make a saving. You make money as a contractor. 1)You charge more per hour for the job. 2)You can control when tax is paid and become tax efficient by using an accountant. 3)You can take on other tasks and contracts as they arise. I can offer a full advice service on this if you like, and I am not too expensive.
------------------------------------ I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC League Table Link CCC Link[^]
You seem to be rather expert in a particular area that I may have a need for Dave. Would you mind if I dropped you a email tonight with a few brief questions? [Sorry to be mysterious for everyone else reading this, it's nothing exciting, I just might need an accountant and it's probably better I don't discuss details on a public forum ;) ]
Simon
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You seem to be rather expert in a particular area that I may have a need for Dave. Would you mind if I dropped you a email tonight with a few brief questions? [Sorry to be mysterious for everyone else reading this, it's nothing exciting, I just might need an accountant and it's probably better I don't discuss details on a public forum ;) ]
Simon
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Firstly, is this a feasiable idea? The company which currently employes me, is looking to save money (arent we all). Me and my partner have came up with this interesting idea which will also free us up to sell and move house as well.. Basically The idea I am thinking, is "Outsourcing my job".... to "Myself". I am considering proposing to my boss that he outsources my job to myself at a slightly lower rate (as I will be working from home etc) this would free me up to pursure other contracts and get my business up and running. its a winner for the company as it would save them money, they know me and how good I am, and its a winner for me for the reasons listed above. It gets me off the companies books from a point of view of saving money on payroll etc.. Does this sound feasable to anyone? How can I approach my boss with this idea? Can anyone think of any hurdles to this idea? JC
bad idea ... never tell your boss you want to work for less money !!!! EVER!!!
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Thanks.
Simon
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bad idea ... never tell your boss you want to work for less money !!!! EVER!!!
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Maybe I should get in too before DD hikes his rates!! :)
Sarchasm : The gulf between the author of sarcastic wit and the person who doesn't get it.
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Firstly, is this a feasiable idea? The company which currently employes me, is looking to save money (arent we all). Me and my partner have came up with this interesting idea which will also free us up to sell and move house as well.. Basically The idea I am thinking, is "Outsourcing my job".... to "Myself". I am considering proposing to my boss that he outsources my job to myself at a slightly lower rate (as I will be working from home etc) this would free me up to pursure other contracts and get my business up and running. its a winner for the company as it would save them money, they know me and how good I am, and its a winner for me for the reasons listed above. It gets me off the companies books from a point of view of saving money on payroll etc.. Does this sound feasable to anyone? How can I approach my boss with this idea? Can anyone think of any hurdles to this idea? JC
bearing in mind that the actual costs of employing you as a FTE may be up to 2.5 times your salary, I wouldn't suggest a reduction in pay at all, as by contracting you will reduce the costs immediately (they save in all the resources you'd normally use, any payroll tax, superannuation etc. depending on your local laws) and you lose by no longer having paid leave - If you work (say) 200 days per year then your daily rate needs to be 1/200 your required income. And you need to add on any superannuation contributions you may be required to make, and insurance you may need, etc. depending on the boss, I'd make it seem like his idea... you know. "Hmmmm, if only there was some way of reducing my costs to the company" "Pity we couldn't find a contractor with my knowledge of the systems" etc.
___________________________________________ .\\axxx (That's an 'M')
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I agree (ironically) but overall, its less Cost to him rather than less money for me from what I am seeing.
-------------------------------------------------- John Crocker
Yeah, maybe, but how will you profit by helping your boss make more money? will he raise your salary in the future ?
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Firstly, is this a feasiable idea? The company which currently employes me, is looking to save money (arent we all). Me and my partner have came up with this interesting idea which will also free us up to sell and move house as well.. Basically The idea I am thinking, is "Outsourcing my job".... to "Myself". I am considering proposing to my boss that he outsources my job to myself at a slightly lower rate (as I will be working from home etc) this would free me up to pursure other contracts and get my business up and running. its a winner for the company as it would save them money, they know me and how good I am, and its a winner for me for the reasons listed above. It gets me off the companies books from a point of view of saving money on payroll etc.. Does this sound feasable to anyone? How can I approach my boss with this idea? Can anyone think of any hurdles to this idea? JC
Following the others comments (who are more than right) you could propose to stay at home and to continue receiving money from the company. You could reduce a little bit your current salary as you stay at home and you are not moving yourself each day to the company. HTH!
[www.tamelectromecanica.com] Robots, CNC and PLC machines for grinding and polishing.
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Firstly, is this a feasiable idea? The company which currently employes me, is looking to save money (arent we all). Me and my partner have came up with this interesting idea which will also free us up to sell and move house as well.. Basically The idea I am thinking, is "Outsourcing my job".... to "Myself". I am considering proposing to my boss that he outsources my job to myself at a slightly lower rate (as I will be working from home etc) this would free me up to pursure other contracts and get my business up and running. its a winner for the company as it would save them money, they know me and how good I am, and its a winner for me for the reasons listed above. It gets me off the companies books from a point of view of saving money on payroll etc.. Does this sound feasable to anyone? How can I approach my boss with this idea? Can anyone think of any hurdles to this idea? JC
That's what my last employer did when they laid me off. As my project was in maintenance mode with ever fewer bugs to remove and features to add they decided that they didn't need to keep me on for forty hours a week. But certainly not at a lower hourly rate, at a higher one, I just worked many fewer hours for them.
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Yeah, maybe, but how will you profit by helping your boss make more money? will he raise your salary in the future ?
Watched code never compiles.
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Firstly, is this a feasiable idea? The company which currently employes me, is looking to save money (arent we all). Me and my partner have came up with this interesting idea which will also free us up to sell and move house as well.. Basically The idea I am thinking, is "Outsourcing my job".... to "Myself". I am considering proposing to my boss that he outsources my job to myself at a slightly lower rate (as I will be working from home etc) this would free me up to pursure other contracts and get my business up and running. its a winner for the company as it would save them money, they know me and how good I am, and its a winner for me for the reasons listed above. It gets me off the companies books from a point of view of saving money on payroll etc.. Does this sound feasable to anyone? How can I approach my boss with this idea? Can anyone think of any hurdles to this idea? JC
Very, but you loose your employment protection.
Ger
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Firstly, is this a feasiable idea? The company which currently employes me, is looking to save money (arent we all). Me and my partner have came up with this interesting idea which will also free us up to sell and move house as well.. Basically The idea I am thinking, is "Outsourcing my job".... to "Myself". I am considering proposing to my boss that he outsources my job to myself at a slightly lower rate (as I will be working from home etc) this would free me up to pursure other contracts and get my business up and running. its a winner for the company as it would save them money, they know me and how good I am, and its a winner for me for the reasons listed above. It gets me off the companies books from a point of view of saving money on payroll etc.. Does this sound feasable to anyone? How can I approach my boss with this idea? Can anyone think of any hurdles to this idea? JC
Until your boss realizes he can then outsource to India and multiply you by 3! Also, don't forget to check out my contractor rate calculator. (Search the web, I am number one on Google, usually) It will tell you what to charge,.
Need custom software developed? I do custom programming based primarily on MS tools with an emphasis on C# development and consulting. I also do Android Programming as I find it a refreshing break from the MS. "And they, since they Were not the one dead, turned to their affairs" -- Robert Frost
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Until your boss realizes he can then outsource to India and multiply you by 3! Also, don't forget to check out my contractor rate calculator. (Search the web, I am number one on Google, usually) It will tell you what to charge,.
Need custom software developed? I do custom programming based primarily on MS tools with an emphasis on C# development and consulting. I also do Android Programming as I find it a refreshing break from the MS. "And they, since they Were not the one dead, turned to their affairs" -- Robert Frost