September 27, 2021

What Services Should a Business Place on Retainer?

A company cannot be expected to do everything themselves. There are some tasks that will always best be left to professionals who do actually know how to go about the issue in the right way. Having such experts on retainer can prove to be very beneficial to a business. Here are three services you should consider placing on retainer for your company.

What is a Retainer?

A retainer is an agreed amount of prepaid work, usually awarded on a monthly basis. If you know that you are going to be working with a particular service a lot, it can often be more cost-effective to work with them on retainer rather than on a case-by-case basis. It also allows you to begin to develop more of a professional working relationship. As an example, as to how it might work, the company you wish to work with might offer you 20 hours covered by a retainer. This means that you pay in advance for 20 hours of work from them. If they exceed this, you pay the extra.

Solicitor

In business, it is always a good idea to have a solicitor standing by. There are so many small details that always need to be checked over after all. Though you might have a sizeable company, you might not still be in the position where you want to hire an internal solicitor. Having one on retainer means that you will be able to ask for their advice when you have need of it. You might wish for them to review your contracts, or explain a new piece of legislation to you that might affect your business. Whatever it might be, having their expertise on hand will always prove to be useful.

Accountant

As with your solicitor, you might not be in the position yet where you wish to add an accountancy department to your business. However, you will still need someone to check over some of the various aspects of accountancy, such as staff payroll. Most importantly, you should make sure that you have qualified tax accountants on retainer. This is one area of business ownership that you cannot neglect, so make sure that you have an expert on hand to help you navigate your tax payments. You really don’t want to make mistake here!

Social Media Management

Every business needs to have a social media presence nowadays, but it might not always be prudent for you to handle this internally. There are many tips and tricks look at your contracts to use to make a commercial social media profile stand out. Rather than try to learn how to handle them yourself, you should think about finding an agency that specialises in social media management. They will be able to take care of your profiles correctly, so that you can attract interest and potential custom through these channels, and their efforts might be more successful than what you could manage on your own.

These are just three examples of fellow businesses that might be useful to have on retainer! There are so many different options out there for services that could be of use to your company. Retainers allow us to build long and successful working relationships – something that is always valued in the world of business. Finding the right people to work with might be quite a long and hard search for you, but you will hopefully be able to track down some companies that you are happy to work with. Lots of businesses use retainers to get the services and expertise they need, so join them and find the right solution for you now!