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What are the benefits of contracting?
The trend toward employing contract staff continues to grow as companies recognise the benefit of a more flexible workforce. Contractors are increasingly used to support busy periods, cover maternity or long service leave and provide specialised skills for specific projects. To decide if contracting is the right career move for you, here are some of the key benefits to consider.
Contracting gives you the flexibility to work in a way that suits your personal circumstances. It gives you the freedom to choose when and where you work, as well as the assignments you would prefer to undertake. The flexible nature of contracting allows for holidays or time off between contracts, giving you greater control over your work/life balance.
Contracting is a smart way to broaden your experience and diversify your skills. Gaining exposure to a wide range of companies, industries and assignments is an opportunity to continually learn new skills and gain exposure to different management styles, cultures, processes and practices. This bank of broad experience is then transferable to your next job.
Contracting can provide constant stimulation for people who enjoy a diverse working life. Contractors often work on a variety of projects across different environments, locations and industries, meeting new people in new companies with each new assignment.
In certain sectors, contractors are paid significantly more than permanent employees in similar roles. It is not uncommon for contractors to earn up to twice as much as their permanent counterparts, with the added bonus of overtime pay for every extra hour worked. This does however need to be balanced against no paid sick leave or annual leave.
If you are out of work or between jobs, contracting is a great way to stay in the job market and keep your skills current. Contracting can be a useful stepping stone to your next role as it can be undertaken while seeking permanent work options; taking the pressure off the job search and giving you current referees.
A key benefit of contracting is the opportunity to build relationships across a range of different companies. Providing an excellent service to each employer will help to build your reputation as a talented and reliable expert. Creating a wide network and strong reputation can then help you to obtain further contract work, or open the door to more permanent opportunities.
Contracting is a great way to get your ‘foot in the door’ of desired companies; allowing you to prove your worth and show how you fit into the corporate culture. It gives the employer an opportunity to assess you for upcoming roles and allows you to experience the company/position before committing to permanent employment.
Talk to your Michael Page recruitment consultant about the current contract opportunities in your profession.
Accepting a contract position can reap many rewards in your career:
- It is more flexible to your personal circumstances
- It offers a variety of experiences
- It could increase your network more rapidly
It can expose you to new companies