It's that time of year again when we're all looking forward to a well-deserved break over Christmas. However with many contractors not working over this period it can cause financial strain as many won't receive their holiday pay in the same way that a permanent employee does.
Most contractors working through an umbrella solution will have their holiday pay 'rolled up' and paid weekly rather than 'accruing' it. Rolling up their holiday pay means that when a contractor takes annual leave they aren't paid a wage whilst they are away from work.
For many contractors they prefer their holiday pay to be paid out this way, however there are some contractors who would prefer to 'accrue' their holiday pay and receive a wage when they are taking their annual leave.
We understand the importance in a candidate driven market place which means that your contractors need to receive the highest level of service from their provider and this is why PayStream give contractors the option of rolled up or accrued holiday pay.
To find out more about this and other services that we provide please contact either myself at firstname.lastname@example.org or your dedicated Client Relationship Manager.