Benefits

Agency shares give contractors ‘virtuous circle’

A recruitment agency is offering shares in the company to its IT contractors
in a bid to keep them working for their customers.

Spring.com, formerly Spring IT Personnel, which counts IBM, NatWest,
Barclays and EDS as clients, is offering contractors that sign up with them
5,000 shares at a fixed rate.

To qualify they will have to commit to working through Spring for two of the
next three years, and update their skills and availability on its website at
least every six months. Those who sign up before February 9 will get a better
deal.

"When there is a high demand for contractors your success as an agency
depends on the relationship you have with your contractors," said managing
director Bryan Lloyd.

"This is a virtuous circle because they benefit in share value as their
employment with us grows and our customers benefit because we can provide them
with the best people."

He added contractors would be expected to work for other agencies if Spring
did not have anything for them. But by being better informed about their
availability the agency hopes to have jobs lined up as their contracts end.

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