There was a time when you graduated, joined a company, and then worked till you retired. But times have changed! A survey from Procurious has shown that almost 40% of the global workforce are now contract workers.
Further, 70% of these contract workers choose this work mode by choice and not as a compulsion for not getting any other work. So, why are people opting for this temporary and unusual career choice? There are many advantages of contract work that make it so tempting for the modern workforce.
What is Contract Work?
Contract work is also known as temporary staffing, where an employee doesn’t work for an organisation permanently but for a shorter period, on a need-basis or project-basis.
Most contract workers are specialised and skilled workers, pros in their niche. They usually do not receive the benefits that permanent workers get, such as health insurance, bonuses, or paid time off.
However, many advantages of contract employment actually make it lucrative to employees. Usually, companies hire contract workers through staffing agencies like 6 Pence- who vet and vouch for the credibility of these professionals.
But you can also land contract gigs through popular job boards, freelancing marketplaces, and even on social media. Temporary employees are hired in every industry, and here are some popular contract work examples:
- Customer service
- Web/App design and development
- Public Relations
- Transcription
- Translation
- Social Media Marketing
- Content writing
- Virtual Assistant
Advantages of Contract Work
The temporary staffing industry measured USD 90 billion in 2021, and it is projected to increase at a CAGR of 9.06% during 2021-2030 to reach USD 130.20 billion. So, why are so many people opting for this non-traditional work format and making it extremely popular? We have listed the many benefits of contract work:
Flexibility
Many full-time employees complain of not having flexibility in their schedules. They have to do the work their managers assign, work the hours, and from the pre-determined place.
One of the biggest contract job benefits is that you can choose the hours you work, the pay, and even for how long. The temporary work contract mentions all these details. This allows contract workers to plan their lives accordingly, not disrupt the work-life balance.
Permanent employees often suffer burnout because of the monotony in their lives. Temporary workers have the flexibility that adequately compensates them while giving them time to devote to leisure activities and family.
Great Pay Packages
Permanent employees, often sourced through permanent placement services, have a set wage that is determined during their joining or annual appraisals. Also, companies deduct specific amounts from salaries towards benefits like health insurance and retirement plans.
Contract workers are often more in demand because of their specialised nature. Experienced professionals are much sought-after by companies and employed on a project basis as SMEs, and they are often paid handsomely.
Additionally, contract workers and freelancers can often work on multiple projects simultaneously, allowing them to increase their monthly income significantly.
Low Competition
Although contract work is gaining popularity in recent times, it is a low-competition industry as compared to full-time employment. Also, the hiring of temporary workers is much simpler as compared to permanent employment, making it easier to land gigs.
Low competition ensures a higher chance of getting the job making it ideal for employees, and it is one of the biggest advantages of contract work.
Chance to Land Permanent Positions
Is there a company you are vying to work with? Maybe you can try making your way into the company by showing your performance in a short-term or contract role.
If you excel in your role and catch the eye of your hiring manager, they might be happy to extend an offer to you. Even if you do not land a permanent role, you can still land multiple assignments with the same company.
Make Foray Into New Industries
Are you looking for a career change? Nowadays, most recruiters prefer to hire someone with experience in the industry. One of the advantages of contract work is that you can test an industry before diving head-first into it.
This is also a great way to gain experience and build your skill set. Contract work can often expose you to new technologies, methodologies, and tools, making it a perfect opportunity to learn new skills.
Improved Mental Health
Among the biggest benefits of being a contract employee is improved mental health. Common issues faced by modern employees are stress and burnout from constant work pressure and expectations. This can be greatly tackled by contract employment.
Contract workers have the freedom of choice and can usually take breaks between projects. Also, you will have limited responsibility in your role, thus not requiring extensive supervision or any undue stress.
It is Legal
Most countries have rules governing the working conditions of contract workers. They might not be as extensive as for a full-time employee, but they are still in place. Also, as a contract worker, you will sign an agreement with your employers, which will safeguard you against fraud.
Great Networking Opportunity
By working with multiple companies and hiring managers, you create great connections and networks in the industry. This will also be a great addition to your work experience and will help you create a standout CV that helps you land top jobs.
Additionally, understanding resume mistakes to avoid will further enhance your CV’s impact. Also, by building good connections, you can land jobs through referrals and recommendations.
How 6 Pence Helps
Are you interested in temporary work after learning about the many advantages of contract work? Then, you have come to the right place. 6 Pence is one of the leading staff outsourcing company in Oman, Bahrain, Dubai, and Iraq. We help leading companies in the area hire temporary and permanent staff for their company.
Our experienced recruiters ensure candidates are matched with the most compatible role and organisation, giving them the best opportunity to shine in their role while allowing our business partners to benefit from their expertise.
We also offer interview tips and any necessary training to better equip for the role. We help international recruits with work visa processing and any legalities needed to work in the GCC.
You can drop your CV with us by visiting our careers page on our website. You can also follow us on our social media channels to learn about the latest job openings.
Frequently Asked Questions
1. Is a contract job good or bad?
Contract jobs have both pros and cons, but the advantages of contract work overshadow the drawbacks. Some cons associated with contract work are irregular pay and lack of job security.
2. What type of work is contract?
Contract employment involves a company hiring an employee for a fixed period of time and for a specific job. They are usually subject matter experts and often have high salaries, flexible work, and many other types of advantages.
3. What is the job of contract?
Contract employees usually come in during seasonal demand, for example, during the EID celebration a departmental store might require more staff. Also, when there is a particular need for a specific skill or SME that is not available among the internal employees, contract employees may be hired.
