In an ever changing employment landscape, it can be hard to navigate the advantages and disadvantages of different employment types. Contract employment is an increasingly popular choice, both for employers and employees, but is it the right choice for you?
Perhaps you are in permanent employment but you are looking for a different project; you are hoping to develop a new skill set but can’t find the opportunity you need amongst permanent positions; or maybe, as in many industries, you are a business looking for specialist knowledge but you don’t have the ability to provide a full time position.
In any of these situations, a contract role could be your perfect solution.
At CareerWise, we are experts in helping you find exactly the right role or talent for your needs. Here is our guide to the advantages of contract employment.
If you are an employer, there are many reasons to consider hiring contractors rather than taking on permanent staff.
Permanent employees require a host of hiring managers and company resources to recruit and support. By contrast, contract work can provide you with the qualified candidates you need, in a much quicker period of time, with no worrying about benefits or training.
Contracting work out to temporary employees can really ease the burden on your company, whilst taking your business where it needs to go.
Although contractors often incur a higher daily rate, as an employer you will not be liable for pensions, sick pay, holiday pay, or health insurance. You will also save on the costs of the hiring and training process.
The flexibility that hiring contractors brings is a major source of appeal. They can be hired swiftly, put to work exactly where they are needed, and then they move on. Employers can enjoy having the resources they need for specific projects, keeping within their budget requirements and maintaining an efficient and streamlined operation. Contractors give employers the option to have exactly what they need, when they need it, without lengthy delays and extra costs.
Employers may find they have niche requirements for a short term project that do not warrant taking on a long term colleague, but that urgently need specialist expertise. Here hiring contractors can provide the perfect solution – much more cost effective and time efficient than up-skilling your existing workforce.
Contractors expect to work autonomously. They rely on their own efficiency to mean they can take on as many contracts as possible; and they rely on their reputation to continue to find work. This combines to mean a contractor is likely to be a highly productive addition to your workforce.
Hiring someone on a contractor basis is a great way to get to know them before considering full time or permanent contracts. You will be able to assess whether they fit with your company culture, get a measure of their strengths and weaknesses, and generally be able to see if they would be right for a permanent role, before committing.
By hiring contractors for set projects, your long term planning can become streamlined. You know you have a fixed budget and a set time frame to work with; this can really help prevent plans from bloating and keep you on target.
Whether you are an experienced freelancer, or are just thinking about trying a new approach to working life, it’s well worth assessing the benefits of contract work.
Contract employees take on a position for a short period, and sometimes have multiple clients and projects on the go. Contract professionals have all the skills of a permanent employee, but will only be working for one company for a limited period.
There are of course disadvantages, such as a lack of the benefits and security that come with full time employment. But many do not realise the huge advantages that can be gained from a contract position.
Although it is important to be aware that as a contractor you won’t be eligible for employee benefits such as sick pay, the advantage is that you are likely to command a much better daily rate.
Working as a contractor gives you a much greater level of independence. An established contractor can, in a sense, feel greater job security, as they have many options and are not reliant on a single employer. Work-life balance should also improve.
A full time employee must abide by their company policy in terms of work schedule, the project they are working on, and a thousand other requirements. An independent contractor has much great control over their career paths, able to choose contract opportunities that will allow them to swiftly gain experience of the skill sets they wish to acquire. If they find themselves unable to work full time, they can still take on clients; they can work as many jobs as they feel they want to, and take holidays accordingly.
By working for a range of companies, you are likely to create many more contacts in your chosen field. Having a strong network is important in order to be able to grow your contracting business and continue to gain work.
Contract work can be a great way to test out new skills and see if there is a market for what you are offering. It can also allow you to learn on the job, improving your skill set and trying out new areas of interest without committing to a full time contract.
Often employers will remember a great contractor when they are searching for someone to fill a similar, but permanent, position. If you are looking for a permanent role, but there are currently no relevant jobs available, turning to contracting might just be the best way to get your foot in the door, and get yourself lined up by an employer before they even start the official recruitment process.
Whether you are an employer or a prospective employee, contract work has many clear advantages. At CareerWise, we see that contract jobs are in increasing demand, as people look for more flexibility and a better work life balance.
High demand contract work can seem like a daunting field to enter, but if you are considering becoming a contract employee, this could be a great chance to learn new skills, pick up contacts for further contract jobs, and take your career to a better place with a high demand role, all in a short period of time.
CareerWise is Ireland’s leading specialist recruitment firm, based in Cork, Shannon, Galway, Mayo and Dublin and we can help you to find your ideal new job in Ireland. If you want to hear about all the latest jobs from the very best companies, whether you are a contract professional or you are seeking a full time job, get in touch with CareerWise today.
We specialise in the Engineering, Supply Chain, Science/Pharma, IT and Accounting industries in Ireland, and we look forward to working with you. Contact us online now or call us on +353 (0) 21 206 1900 to arrange a consultation.
Conor is a sales professional with approx. 14 years experience in the Recruitment, Property and Advertising industries.
Conor has a background in engineering recruitment for clients based in the pharmaceutical and medical device sectors throughout Ireland.
He holds a Diploma in Human Resources Management and he is also a qualified auctioneer.
Conor joined CareerWise in June 2016 as a Senior Recruitment Consultant.
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Phone: +353 (0) 21 206 1900