With more and more organizations augmenting their staff with contract employees, it is becoming more important than ever for people to consider the pros and cons of contract employment before they even apply. Here are my top pros & cons, along with a few additional considerations that you can use when deciding if contracting is right for you.
Pros of Contracting:
- Generate Income – taking on a contract opportunity is a great way to generate income while you are pursuing other options, such as permanent employment, schooling, or even starting your own business.
- Try Before Buy – while working on a contract you have the opportunity to conduct deeper research on the organization for which you are contracting. This is a great chance for you to determine whether or not you enjoy the company culture, team, and role before you make any decisions to pursue permanent opportunities within the organization.
- Foot in the Door – In some cases, contract opportunities turn into permanent roles. Starting off as a contractor gives you the chance to showcase your skills and talents, likely increasing the likelihood of you gaining a permanent role.
- Keep Experience – contracting is a key way for you to keep your skills current and relevant for your next role.
- Add Experience – if you are looking to make a career change, or if you are new to a country, contracting is a great strategy for you to gain the experience you need to move towards your ideal career.
- May Pay More – typically, employers will pay a higher wage to their contract employees to compensate them for a lack of benefits. What you lose in benefits, you could gain in increased salary.
- Grow Network – working with any employer, even on a temporary basis, you will meet new co-workers and hence, expand your network.
- More Employable – As the adage goes, it’s easier to find a job when you already have one. Working on a contract basis still counts!
- Less Competition – given that contract opportunities are a less desirable proposition, there could be fewer people competing for these roles. With less competition, your chances of getting the interview and even landing the job will increase.
Cons of Contracting:
- Uncertainty