Jobs are increasingly being offered on a contract basis, an employment arrangement that lasts for a fixed amount of time.
There are numerous reasons why you should look for contract work as part of your hunt for a new job. Yet most people looking for work only look at postings that offer “permanent” work, where you are hired as a regular worker who receives benefits and has taxes deducted from a company-issued paycheck.
While so-called permanent employment offers a high degree of stability, those that solely focus on this type of employment arrangement are passing up on many benefits offered by contract jobs. Below is a list of reasons why you may want to pursue contract work.
Reason #1: Better pay
For employers, it’s generally cheaper to use a contract worker for a job than it is to pay a full-time employee, which includes paying associated benefits, unemployment insurance and taxes. Because a company does not have to pay for added costs associated with a full-time worker, they can be offered contract workers a higher pay rate.
Many professionals cite higher pay as the main reason they take on contract work. According to statistics, employers are more than happy to pay higher wages to contract workers, as recent surveys has shown contract work arrangements are on the rise.
Getting a higher pay rate through contract work does have one big caveat: You may be responsible for paying all federal, state and local income taxes, if you do not go through a third-party staffing company.
Reason #2: Less commitment
Many professionals forego full-time employment for contract work because it means less commitment to a company. Without the pressure of long-term expectations, contract workers are able to focus more on the task at hand and less on things like office politics. For those sick of dealing with toxic work environments and bad bosses, the short-term commitment of contract work can be very appealing.
Less commitment also means more career flexibility. After a contract is up, a contract worker can take time off to raise a family, go back to school or travel the world.
Reason #3: Career benefits
Contract work is an unconventional, but great way to advance your career. Working a series of short contracts offers you the chance to expand your network with strong connections and do it in a relatively short period of time. Contract work also exposes you to a wide range of work environments, best practices and technical tools. If you’re interested in working full-time at a particular company, doing contract work with them is a great way to get your foot in the door.
Finally, if you’re having trouble finding a full-time job, contract work is an easier way to find employment, which allows you to keep your skills fresh and eliminate a potentially career-stalling gap in your work history.
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At Quanta, we have years of experience connecting people with great contract work opportunities. Please contact us today if you’re currently looking for a new employment situation or explore these job openings.