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In this job market, it’s becoming more typical for companies to hire contractors. But what, exactly, are the advantages of doing so? And as a candidate, what benefits do contract positions have to offer?
To help you answer some of those questions, we’re reviewing the reasons to consider contract roles — from both hiring manager and job seeker perspectives.
Contractors help hiring managers fill resource gaps on teams quickly, provide specialized strategic support, and have the ability to be more agile in nature.
A big pro of hiring contract workers is leveraging specialized skill sets that help fill gaps on teams. Contractors have exposure working with multiple organizations within similar industries. They have the advantage of understanding similar processes, so it's easier to ramp up, complete a project, and successfully finish the assignment.
Contractors can get to work right away and potentially even finish a strategic project before a competitor can even staff up a team to work on a similar feature. If certain contractors become invaluable, management can bring them on board, dramatically cutting hiring and onboarding time.
With contractors, hiring managers benefit from a global talent pool. Not only are there more options to choose from, but working with contractors in another country can sometimes lower the cost of specialized services. Hiring from a global talent pool enriches workplace diversity, increases market insight, and improves overall production levels.
Hiring a contractor provides less risk during the onboarding and training period. It allows for the hiring manager to have the ability to "try before you buy". This allows for the flexibility to increase or scale back project workloads based on the project need and resource, creating a more agile work environment for your team and for the contractor. Another advantage, is the reduced overhead when hiring a contractor from covering benefits, payroll taxes, etc.
As compared to FTEs, contractors have a lot more flexibility in where they work, how they work, and who they work with. They can also have higher earning potential or even transition to a full-time role at a company they care about.
The ability to be more selective in the clients and the projects you are most passionate about working on. More flexibility around where and when you work. You have the chance to elevate and expand your own expertise which can warrant higher rates for higher skill-sets.
As a contractor, you also get the chance to test the waters and get to know the client better, comfortable with the work, dynamic of the team, and overall culture of the organization. If you’re unsure, you can end your contract early or move on to a different client after your contract is completed — an option you wouldn’t have as an FTE.
Working with multiple companies gives you an opportunity to build out your client list across industries and partner with in-house and agency clients. Expand your expertise across projects and add new material to your portfolio allowing you to constantly sharpen your skills as you gain new exposure to clients and projects.
As an assignment wraps, if you and the hiring manager feel the overall assignment and partnership was successful, the opportunity to convert to an FTE is an always an option both parties can choose which allows the contractor to accept a new permanent position!
There are distinct advantages to contract roles — for both hiring managers and job seekers. If you’re in the market for a new role or contract hire, don’t hesitate to reach out to us at Planet Interactive.
We’ve placed hundreds of fantastic contract candidates at impressive companies and are eager to help anyone looking for a job or looking for a new contractor. Contact us today to get the ball rolling
Photo Credit: Unsplash
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