As the name suggests, a contract job is a job where an employee works under contract for an employer. He/she may be hired for a specific job at a specific rate of pay and doesn’t become a part of the company’s existing staff. Since that employee is not considered given the ‘permanent’ status, there aren’t any traditional employer benefits offered to him/her like social security, workers compensation, sick leave, vacation time, retirement benefits, or profit-sharing.
Despite the non-availability of these aforementioned benefits, the number of contract opportunities has seen rapid growth globally over the past year. Companies have been hiring contract employees to provide interim solutions for their upcoming projects or as maternity covers. Although considered as unstable by many candidates, temporary or contract employment is booming like never before. Here are some reasons why more people today are hoping toto get contract-based jobs –
Explore and choose your path
For people who have just embarked on their career journey, getting into a contract based job might be a great way to explore their skills and talent. It serves as a platform for introducing you to a world of opportunities and see what you can do. Getting a taste of different work cultures, office environments, job roles, etc., gives clarity as to what kind of business vertical or industry interests you more and helps you make your next job hunt more focused.
Brush up your skillset
By working with different companies on multiple roles, you learn about various aspects of businesses and industries that a candidate on a 9 to 6 job is not likely to have. Every job will pose unique challenges each time, gearing you up to deal with them effectively. There is no doubt that you will have a new experience in your bucket and specialized skills added up in your resume by passing every challenge successfully.
Contract-based jobs provide enough flexibility in terms of working schedules, duration of the project, etc. You will be able to work for a pre-determined time duration at pre-determined prices for a company. The flexibility of choosing the opportunities that meet your needs will help you to attain a balance in your personal and work life, which you cannot avail otherwise (in full-time employment). Being a contract employee, you can pick long-term or short-term projects on an as-needed basis and at the same time enjoy additional perks offered by companies.
By working on different contract jobs, you can easily build a valuable industry network for future communication. Based on your great work ethics and skills showcased in your past or current contract job role, you may increase your chances of getting recommended to other companies or get moved to a permanent position in their organization. So, if you can impress your current supervisor with your capabilities, you will likely be given more priority than the other applicants.
High Pay Rates
It is important to know that contract-based employees are not just fresher or college going students. Even the highly qualified candidates have resorted to contracting jobs because of the higher pay rates and flexibility in their working hours. Not getting an opportunity to avail the benefits that a permanent employee is offered is no issue when you can cover up the hard work cost by working only for few months in a year at higher salaries. You also have the biggest advantage of taking breaks between different projects and enjoying your vacation time without any stress.