This consultancy fee reduction scheme benefits organisations in many ways below we have listed some of the key areas in which  our retained worker solution helps to cut cost:

• It reduces the cost of the day rates of consultants by around 20%
• The fact that the consultant becomes effectively full time employed means they can't take advantage of any tax loopholes
• There is only 1 invoice to pay at the end of each month rather than paying many seperate recruitment companies
• As more organisations join up there will become a bigger pool of specifically skilled staff that can be moved between projects
• Typically the take up rate of the retained worker scheme is 80%+

A typical example might well be:

Project Manager: Contract rate £450 per day, 3 month contract

Reason in contract: Skills not within business (or deployed elsewhere) and required for a key project. 

Risk to the organisation: Now starting to become an important part of overall programme of activity and the contract regularly ‘rolls-over’, but, because they are likely to be regularly looking for new projects/work, a more attractive offer elsewhere could mean loss of skills at an important part of the project lifecycle.

Typical Cost to the trust for one year: £450.00 per day x 242 = £108,900 

RW Project Manager 

Same skills as above, but commitment for one year and still retain a 4 week notice period, providing the same flexibility.

Typical Cost to the trust for one year: £80,000

Salary to the Consultant – Bonus: £65,000

Bonus to the Individual: £15,000 

Bottom Line Saving: £28,900

The retained worker solution is fully scalable and gives full flexibility.

So if you look to switch 50-100 consultants then savings could be in the region of £1,445,000 - £2,890,000 plus the benefit/cost of not having to manage multiple invoices.

Email us now on info@libra-solutions.co.uk or call 020 7993 5001