From compliance to the cost of its services, simply carry on reading to learn how to choose an umbrella company that ticks the right boxes.
How big is their margin
Naturally, umbrella companies deduct a weekly or monthly margin from each of their employees’ gross pay to make an income.
This margin tends to be fixed, and varies between £15 to £30 per week on average in the UK, so choosing an umbrella company with a lower margin can make a difference in the long run.
It’s also important to study an umbrella company’s complete fee structure as some may charge entry and exit fees.
What services do they offer?
Quick and easy setup is one of the biggest indicators that you’ve chosen a good umbrella company.
If an umbrella company assigns workers an account manager, is easy to communicate with, and has a set procedure for resolving issues, it’s likely that you’ll receive significant support, be inducted quickly, and be able to start earning as soon as possible.
Are they on a Preferred Supplier List (PSL)?
Often, recruitment agencies will have a Preferred Supplier List (PSL) of umbrella companies that they work with or recommend.
At Umbrella Tracker, we have an approved supplier list that’s been built – and constantly reviewed – with extensive research and due diligence for your peace of mind.
What are their reviews like?
Reviews, regardless of whether they’re on Google or TrustPilot, are often a reliable indicator of an umbrella company’s service.
Generally, the better the reviews (especially those from other contractors or temporary workers), the better service you can expect, so it’s important to do your research.
Do they provide contacts of employment?
All compliant umbrella companies will provide contractors with a contract of employment to ensure their workers have statutory rights such as sick pay and holiday pay.
If an umbrella company refuses to give you a contract, you should avoid them!
How long have they been trading?
Umbrella companies established in the past few months are unlikely to have invested enough time and money in the development of their systems to support you properly.
Instead, opt for umbrella companies with a longer trading history for greater reassurance.
Do they have expertise in a specific sector or industry?
While an umbrella company’s trading history is important, also possessing know-how in the sector or industry that you contract in can be essential to ensuring your employment is handled expertly.
Are they easy to contact and deal with?
Although difficult to ascertain at the outset, the last thing you want after a busy month is to be chasing different departments for your payslip.
We recommend asking the umbrella company whether they have a dedicated team (or even better, a named point of contact!) to assist you with enquiries.
Do they have a service-level agreement?
If an umbrella company has clear and transparent procedures, this can be a good indication of their reliability and efficacy.
These service-level agreements can make raising complaints or getting responses to your queries much easier and faster as they make guarantees of when (and how) these things must be handled.
Use Umbrella Tracker to choose an umbrella company
At Umbrella Tracker, we help temporary workers involved in the healthcare, medical, social care, and IT industries across the UK to compare sector-specific, fully vetted, and accredited umbrella companies – all supported by our free and unbiased advice.
Using a combination of our own research, current client testimonials, and PSLs from recruitment companies, we take the hard work out of choosing an umbrella company by handpicking only the most reliable businesses.
We also adopt a personalised approach so you can rest assured that our professional recommendations are tailored to suit your specific circumstances and needs.
If you’d like to learn more about how to choose an umbrella company for you, please feel free to get in touch with our friendly team of experienced advisors today.
Simply give us a call on 0203 026 3303 to discuss your requirements!
