Requesting Changes to notice periods

[sira]

Has anyone tried to push for a longer/shorter notice period for contract gigs? Would like to hear about successful and unsuccessful attempts.

A couple of the top tier banks I'm interviewing with are about to make final decisions (potentially on Friday/Monday), and with Brexit looming it doesn't feel safe jumping into a contract gig with them - simply put I don't trust them (recruitment process has been very slow and wishy washy). If successful for the 12 month gig, I was contemplating asking for a 3 month notice period and for 6 month gigs I'm thinking about asking for 1 month notice.

Bearing in mind these are "critical" VP level roles at behemoths and the recruitment processes have already taken 6-8 weeks. What are they likely to say?

If it's of any bearing, one is FTC PAYE (12mth gig) and the other is an outside ir35 day rate (6mth gig).

[northernladuk]

Notice periods are pointless to us. They just don't give us work a d we don't get paid as per the contract..

Banks aren't going to give flexible resources 3 months notice either. It goes against the point of the flexible resource.

Notice periods that long are an IR35 issue as well.

If you are via an agent it's the agent you are asking for a notice period. They could out any rubbish in knowing it doesn't mean anything. You'll only get paid for the work you do and only if the client pays them.

I see you mention FTC. That's a completely different beast to an outside IR35 contract.

[Amanensia]

I quite often ask for changes to notice periods; I ask for none (although if they insist, I'm quite happy for it to be asymmetric - I have to give notice, while they don't.)

It reflects the nature of contracting, as an extremely flexible resource; at the end of the day if they don't want or need me any more, I don't want to be there. Not that, in 20 years, I've ever left a contract early.

FTC is a different kettle of fish entirely. I'd expect permie-style symmetric notice periods.

[sira]

Notice periods are pointless to us. They just don't give us work a d we don't get paid as per the contract..

Banks aren't going to give flexible resources 3 months notice either. It goes against the point of the flexible resource.

Notice periods that long are an IR35 issue as well.

If you are via an agent it's the agent you are asking for a notice period. They could out any rubbish in knowing it doesn't mean anything. You'll only get paid for the work you do and only if the client pays them.

I see you mention FTC. That's a completely different beast to an outside IR35 contract.

My thinking here is if you get 3 months, and they get rid of you say at 1 week notice, then you can at least reclaim the money back via breach of contract?

Is 1 month notice really an IR35 issue for a 6 month gig? 1 month isn't really that long tbh.

Edit - to clarify I think there may be a chance of success with the FTC but not so much with the outside ir35 gig.

[eek]

FTC you want symmetrical notice periods and as long as possible as you have Mutual Obligation for them to pay you and for you to turn up.

Outside IR35 don't even think about asking - there is no Mutual Obligation to offer you work to do so you could have a 2 year notice period and they don't need to find or give you any work.

[ladymuck]

My thinking here is if you get 3 months, and they get rid of you say at 1 week notice, then you can at least reclaim the money back via breach of contract?

Is 1 month notice really an IR35 issue for a 6 month gig? 1 month isn't really that long tbh.

Edit - to clarify I think there may be a chance of success with the FTC but not so much with the outside ir35 gig.

They can tell you there's no work and won't sign your timesheet because they've not given you any work to do. Why pay a temp resource to essentially take gardening leave? Your contract will have a clause about no payment without a signed timesheet (or words to that effect).

This is what NLUK was saying about notice periods being pointless. There will always be a way to get rid of you at whatever notice they want.

[sira]

FTC you want symmetrical notice periods and as long as possible as you have Mutual Obligation for them to pay you and for you to turn up.

Outside IR35 don't even think about asking - there is no Mutual Obligation to offer you work to do so you could have a 2 year notice period and they don't need to find or give you any work.

They can tell you there's no work and won't sign your timesheet because they've not given you any work to do. Why pay a temp resource to essentially take gardening leave? Your contract will have a clause about no payment without a signed timesheet (or words to that effect).

This is what NLUK was saying about notice periods being pointless. There will always be a way to get rid of you at whatever notice they want.

Got it. So in effect FTC's are probably a better option at the moment, to provide a bit of a safety net amongst the chaos. Subject to contract, of course.

[BigDataPro]

No offence but at Canary Wharf, pretty much everyone is a VP including the receptionist who issues replacement ID, isn't it?

[sira]

No offence but at Canary Wharf, pretty much everyone is a VP including the receptionist who issues replacement ID, isn't it?

Lol. The world is much bigger than canary wharf

I've worked at the big shops, and never had the displeasure of working in canary wharf tbh.

[ladymuck]

No offence but at Canary Wharf, pretty much everyone is a VP including the receptionist who issues replacement ID, isn't it?

Have regular chuckles at ClientCo about how a Senior Director is just a low level manager and a VP is a bit further up the food chain.

EDIT: this is not in Finance but is a US-owned company