For any business to be successful, it needs to not only survive but thrive. However, challenging economic times brought on by a global pandemic have made that more difficult than ever.

When managing the risk of engaging contractors, prequalification may be one of the first things you think of. The process enables you to ensure that potential contractors have all the necessary experience, qualifications and insurances to perform the work to your required standards.

For many of our businesses, contractors are essential to day to day operations, providing specialist skills and enabling us to scale capacity to meet changing demands. What’s more, our requirement for a contingent workforce may well rise in the coming months as we resume operations, rebuild and restructure.

For many companies, contractors are essential to the smooth operation of the business. They are an integral part of the workforce, providing specialist skills and additional resources that those companies can’t do without.

Like most organisations, you’re most likely managing the compliance standards of third-party contractors via manual processes. Whether you’re using spreadsheets, project management tools or even an archaic paper-based model, ensuring all contractors and suppliers remain compliant with your requirements as well as industry best practices can be difficult... not to mention boring.

If your organisation engages contractors, you’ll know there is a considerable amount of administration required to get them prequalified and compliant with your required criteria, prior to commencing work. From the contractor’s perspective, they too have their work cut out for them through this process.

Managing a growing contractor workforce is a significant logistical challenge. You need to consider the legal and safety implications of having them on-site and weigh this against the value that they bring to your operations.

Contractor management is a complex process that takes a considerable amount of time. You need to hire contractors who are licenced, qualified and insured. It’s important to communicate with them regularly and keep on top of their supporting documentation.

Engaging the right contractors can make a big impact on the success of your business, but they can also introduce significant risk. If we choose the wrong company for the project, not only can it impact the timelines and quality of work, but it can affect workplace health and safety.