Contract employment has grown tremendously in the last few years. In 2018, an NPR/Marist poll found that 1 in 5 jobs in America is held by a worker under contract. Within a decade, contractors and freelancers could make up half of the American workforce.
Contract work grew out of the great recession of 2008. Once the recession was over, this employment model stayed in existence and grew due to the many benefits that both employees and employers experienced. Because of this, many full-time, permanent employees are opting to seek contract employment positions. However, since contract employment is such a drastic change from traditional employment models, there is still some confusion about it.
What is Contract Work?
Contract employment is based on a model where an employee is hired for a particular job or task and paid a specific rate. The contract employment model is for a pre-determined period of time that doesn’t extend indefinitely. A contract worker is a temporary employee who never officially becomes a permanent staff member of an organization. So, what are the advantages of this type of employment situation?
The 5 Advantages of Contract Work
It is the Way of the Future
Contract work is the way of the future. For workers, experience with contract employment will serve them well in the future as this employment model grows. Thus, when contract work becomes a larger part of the employment market, these workers will already know how to successfully navigate their careers with the resources they have in place (i.e., recruiters).
Work is Always Available
Since many companies are going to contract employment models, there are many jobs available. Also, since contract roles are for shorter periods of time, the number of open positions is greater.
Less Competition for Jobs
Contract employment is a less competitive environment than traditional employment situations. This is because many workers are still ingrained in the full-time, permanent workforce model. Thus, workers who are open to contract employment are likely to have more opportunities.
Greater Flexibility to Balance Work and Life
For many workers, contract employment provides them with more flexibility than is typical for permanent employees. Contract employees can decide when and for how long they work allowing them to better balance work and life.
Professional Growth: New Skills and Experiences
When workers get to experience many varied roles with different employers, their professional growth is significantly increased. Contract workers can enhance their skillsets and learn new skills which will lead to higher wages.
Planning for Contract Work
Contract work is only going to become more and more common. Workers today who elect to participate in contract work are gaining valuable experience on how to work within this growing employment model. For contract workers to be successful in this new environment, they need to have an established relationship with a professional recruiter throughout their career.
If you are a worker considering contract employment, its best to consult an expert in contract staffing. At New Era HR Solutions, we are experts in contract employment. Contact one of our staffing specialists today or check our free resources to improve your job search!