Liquid Friday Statement
For over 15 years Liquid Friday has strived to be the best business possible, both as a service to industry and to its employees and colleagues.
We have worked continuously to evolve our proposition in line with sector demands and have always focused on delivering a valuable service to those who choose to work with us, from investing heavily in our beliefs around service, to more recently supporting contractors financially through the pandemic crisis.
A key element of this is our ethos around communication, transparency and openness. Everything we do is explained and disclosed clearly and concisely to contractors, especially with regards to their assignment income.
All elements from PAYE Tax and National Insurance to our company margins and employment deductions are shown and explained to contractors via the Onboarding Consultation, Key Information Document, Key Facts Document, Personal Illustration, Payslip and Remittance Advice.
In addition, Liquid Friday contacts all contractors further to their initial new assignment payment to ensure they are fully aware of all deductions and answer any questions they have. This is above and beyond what a business is required to do in line with the FCSA code of conduct in our ongoing pursuit to be the best contractor service delivered within the industry.
In relation to statements made by commenters of the industry we simply do not understand the negativity towards our business. Liquid Friday clearly details and discusses all elements of the financial relationship of working with us so contractors and recruitment agencies alike have all the information available to make an informed decision about whether they choose to work with us.
Liquid Friday is not engaged on any sole supply service agency arrangements meaning all contractors that opt for Liquid Friday have a wide range of umbrellas to choose from, with all the information needed to make a decision for themselves.
Some assignments do have larger operational costs associated with facilitating them, such as redressing and correcting contractor work, bespoke processing requirements outside our standard operations and the financing requirements of a particular supply chain in order to deliver weekly payments to contractors.
This is an economic fact of delivering certain assignment types, where these costs are relevant they are detailed as a business overhead and included in the charge out rate paid by the agency or end client and clearly stated to contractors in 6 different forms of communication.
We note that assumptions and calculations used within the recent Contractor Voice article are incorrect and applied inappropriately, such as the statement of Liquid Friday charging for insurance, which it does not, and the outputs of the comparison matrix published.
Liquid Friday was not asked to comment on the article prior to its publication, if done so we would have been happy to clarify and provide information that shows their calculations are incorrect, however we are still more than happy to engage in conversation with them to discuss in an open manner for the benefit of its readers.
Thousands of contractors choose to work with Liquid Friday from a large and competitive range of options available to them. We believe this is down to the service we deliver and how we look after them. We truly appreciate the support of our business by contractors and agencies and thank them all for believing in us as much as we believe in them and the awesome things the flexible recruitment sector can deliver for the UK.Colin Gunnell Chief Executive Officer