A Brief Note On The Independent Contractors Organizations

1258 WordsJun 4, 20156 Pages
Gregory Long June 4, 2015 ACM 395 (Pricing) Professor Adina Peyton Independent Contractors Introduction Independent contractors are hired and used for various reasons by companies. Probably one of the main reason businesses hire independent contractors is that it will save the company money in the long run. Independent contractors are not employees of the company for which they are hired. They are ultimately hired to perform a service or provide a good for a fee. The definition of a contractor, Independent entity that agrees to furnish certain number or quantity of goods, material, equipment, personnel, and/ or services that meet or exceed stated requirements or specifications, at a mutually agreed upon price and within…show more content…
A good independent contractor should have good networking skills. Most independent contractors use subcontractors to complete the job. By having good networking skills, independent contractors are able to hire subcontractors that are able to come in and help the project progress at a much faster pace and ultimately finish the job on time. Most would say reliability is the most important trait of all. When companies hire independent contractors they hope that the contractors is very reliable. Reliable in the sense that they are able to meet all the requirement and deadlines outlined in the contract. If companies have concerns about the reliability of an independent contractor, they should move on to another contractor because in the long haul the job will not get accomplished which will lead to headaches in the future. Competitive pricing is also important when selecting a contractor. Hiring a contractor because of price is not always the best practice. Deciding which price to go with can be a challenging task when it comes to hiring a contractor. According to Murphy (2009), “the sellers wants to make as much money as possible and the buyer wants to save as much as possible”. When companies receive quotes from contractors that are extremely low or high those could be red flags. Extremely low could mean that the
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