How to approach this with my boss
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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
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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
If you have your boss's trust then I see why not. Although based on your company policy you might be changed from a regular employee to a contracted employee I suppose.
My Blog What you do, when you don't know what to do is what you do when you don't want to do what you do.
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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
Carefull! Check Taxes etc: there are good reasons why contractors are paid more than employees! Remember (in the UK): Holiday pay, Sick pay, employer National Insurance. Also remember extra costs: heating, lighting, electricity, computer upgrades, backup systems, physical space, travel to meetings, accountant, pension. Its's worth bearing in mind that you need to be sure that they will give you enough work to keep you busy, but that you need to find other sources quickly - a company with only one client is often known as "bankrupt". Whatever guarantees they give you are as good as the paper they aren't written on. I'm not saying it's a bad idea: but it is not one to jump into at all. [edit]I forgot pensions :doh: [/edit]
Real men don't use instructions. They are only the manufacturers opinion on how to put the thing together. Digital man: "You are, in short, an idiot with the IQ of an ant and the intellectual capacity of a hose pipe."
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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
It dependes on how team cooperation works. If there is a lot of talking then remoting yourself could degrade performance. If you make a call then somebody should answer it. And if you stood over somebody's shoulder and ostentatiously wait then he would surely do what you want him to do. PS. Get marryied. It is cool to say "me and my wife" ;)
Greetings - Jacek
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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
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[^]
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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
I'll echo what OriginalGriff said. There is a good reason contractors are paid a lot more and that is because they are personally taking the hidden costs that business would pay for permanent employees. If I was to consider this I would be planning to *increase* my rate (probably by quite a lot). Despite the increase to what I actually recieve, it would still result in a net decrease for the employer because they wouldn't be paying all the taxes/pensions/holiday/etc any more, I'd be paying them. One of the benefits you could use to try to sell this idea to your boss is the option of reduced hours when they are quiet. (Which like you say, gives you the freedom to start finding other contracts) (You probably want to be set up as a company. If you are even slightly unsure what you are doing make sure you get yourself a good accountant to handle the paperwork and tax returns for you)
Simon
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It dependes on how team cooperation works. If there is a lot of talking then remoting yourself could degrade performance. If you make a call then somebody should answer it. And if you stood over somebody's shoulder and ostentatiously wait then he would surely do what you want him to do. PS. Get marryied. It is cool to say "me and my wife" ;)
Greetings - Jacek
Jacek Gajek wrote:
PS. Get marryied. It is cool to say "me and my wife"
You don't know the OP is male (could be an ugly striking woman) - or that the partner is of a different gender. I don't either, but... :laugh:
Real men don't use instructions. They are only the manufacturers opinion on how to put the thing together. Digital man: "You are, in short, an idiot with the IQ of an ant and the intellectual capacity of a hose pipe."
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Jacek Gajek wrote:
PS. Get marryied. It is cool to say "me and my wife"
You don't know the OP is male (could be an ugly striking woman) - or that the partner is of a different gender. I don't either, but... :laugh:
Real men don't use instructions. They are only the manufacturers opinion on how to put the thing together. Digital man: "You are, in short, an idiot with the IQ of an ant and the intellectual capacity of a hose pipe."
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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!!!
Watched code never compiles.
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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 ?
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