If you have been working as a contractor for a while, the chances are that you have experienced recruitment agencies who treat you as nothing more than a cash cow. A cash cow is an investment which brings in a steady income stream. According to the Boston Growth Matrix, cash cows are leaders and generate cash, without consuming much. The cash cow will cover the costs associated with the business, including administration and salaries. Although companies are advised to have cash cows, they shouldn’t come in the form of people. As soon as most agencies have their investment, you are nothing more than a generator of cash. Unfortunately, this is extremely common with agencies. They nurture you and shower you with attention until you are placed in your role, then you hear nothing else. You are continuing to make them money, so they no longer have a lot of interest in you, it’s on to the next for them!
Stars or Cash Cows
Companies are also advised to invest in stars. Stars consume as much cash as they make, but they can eventually become cash cows. Agencies who don’t view their interims as cash cows are those who view them as stars. They invest in them, nurture them and in return, they will eventually make money off them. Unfortunately, most agencies are only thinking about the here and now and making a ‘quick buck’, so spend more time on cash cows than stars.
Are you a cash cow?
If you have never thought about being a cash cow or not, you probably are now, or you may have already known but just accepted it. The key questions to ask yourself are, what has your interim agency invested in you? If they have they only went as far as treating you to a coffee or free meal, you are selling yourself short. An agency should be truly investing in you. They should be looking at your needs and values, and what you want from them. Unfortunately, this is not the case for most agencies. Another aspect to look at is how communicative the agency has been since you started your assignment. Have they checked in regularly to see how you are getting on? Have they ever asked if you are happy in your contract or if you need anything? Sadly, communication usually ends as soon as you start the contract and the only interactions you have with the agency are to do with invoices and payments. Many contractors notice this lack of communication, they might not say anything, but they notice, and it can leave them feeling a little disappointed in the agency.
What Mindful Contract Do
At Mindful Contract, we understand these frustrations and we strive to make sure we are not just like every other agency. We invest time and money into our contractors and will market you to future clients, so you always have a steady stream of work. Our contractors also get the opportunity to showcase their thought leadership. We are willing to invest time and money in you, as we value the talents and skills you are bringing to the table. Follow us on LinkedIn and Twitter to stay in touch.