The umbrella company marketplace has never been more competitive. Each month a new player bursts on the scene with an offering that inevitably boasts a competitive weekly fee, ‘world class’ customer services and a bullet proof, ‘HMRC-compliant’ expenses policy.
These companies are ten-a-penny and frankly, old news.
So how does an umbrella company differentiate itself from the hoards of competitors in a highly fragmented market?
Simple. It adds value where it really matters….take home pay.
Pulse Umbrella have been around for some time and are rapidly gaining a foothold in the umbrella market. Their message is clear – if you really want a breathtakingly good service then look no further.
But it’s not just the fact that their call centres are open longer than any other umbrella company or their hugely popular contractor VIP club that has got our attention. More recently, Pulse have launched two products directly aimed at maximising a contractor’s take home pay.
Pensions and child care vouchers have long been overlooked by the vast majority of umbrella companies in the UK. Today, less than 15% of providers are offering these services to contractors because of the increased administration and processing required.
Pulse recognise the significant tax savings available to their contractors and have acted accordingly. Unlike most stakeholder pensions, their Discretionary Managed Group Pension Scheme allows fund managers to diversity the pension portfolios and move money around the market to take advantage of economic conditions.
Pulse have also announced the launch of their new Apple Childcare Vouchers initiative which allows contractors to save nearly £1,200 a year in childcare fees.
With their proactive approach to business, it’s no surprise that Pulse are going places. It remains to be seen just how many umbrella companies will be able to keep up in fast moving and forever changing industry.
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