As the name suggests, a contract job is a job where an employee works under contract for an employer. They may be hired for a specific job at a particular pay rate and don’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 like social security, workers’ compensation, sick leave, vacation time, retirement benefits, or profit-sharing.
Despite the non-availability of these 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 unstable by many candidates, temporary or contract employment is booming like never before. Here are some reasons why more people today are hoping to placement agencies to 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., clarifies 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 to your resume by passing every challenge successfully.
Contract-based jobs provide enough flexibility in terms of working schedules, duration of the project, etc. You can 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 ethic and skills showcased in your past or current contract job role, you may increase your chances of getting recommended to other companies or getting 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 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 a few months in a year at higher salaries. You also have the biggest advantage of taking breaks between different projects and enjoying your vacation without stress.