One of our last blog posts about the year so far in Contracting has certainly stirred up a great deal of debate, particularly on LinkedIn. It’s certainly been a mixed bag of reactions with individuals saying 2017 has been a great year for them so far, others not such a great year, and some no real change at all. Alongside this, we’ve also noticed one or two contractors go back into the fold as a permanent employee.
There’s of course nothing wrong with this, but obviously here at iContract we champion what contracting can bring to your professional life. With that, we wanted to think about what one should consider if they’re thinking about moving away from contracting and going back to full-time employment.
Once in – hard to get out
Despite the popularity of self-employed work and the great benefit it can bring you, there are actually positives to working in a full-time position when comparing the two. The security it provides with personal benefits such as pensions and national insurance, plus not having the burden of managing your accounts and the ease of getting a mortgage – working in a full-time role undoubtedly saves you a lot of hassle. A lot of people prefer this stability and having an easier life and not having to worry about these admin woes. Imagine going from being a contractor to this, you could easily fall in a trap and get too comfortable. If your permanent plans are only short term and you plan to go back to contracting soon, just think how difficult it might be to get out of the familiarity of a full-time routine.
Don’t you forget about me
Going back into full-time employment, you’re out of the loop when it comes to contracting. As a contractor, you might have built a good reputation amongst employers and been able to jump from one contract to another within the short space of a few months. Now you’re fully committed to a full-time role, you’re no longer available on a flexible contract basis. Employers will have to put your name to one side and by the time you come back to contracting, you could be at the back of queue when it comes to contracting opportunities.
Don’t fall behind
Working in a full time role, you may not have the diversity in your work that you’ll have enjoyed as a contractor and find yourself confined to a strict set of working responsibilities that doesn’t give you scope for further development outside your comfort zone. Also, with yourself now back in the 9 to 5, Monday to Friday routine, you’ll lose the flexibility that gives you the chance to adopt further training and develop new skills. Going into a full-time role could be a step back in your career and you could fall behind.
Say bye to the perks
Working as a contractor, you have the choice to decide your hours, your holidays, as well as enjoy huge financial benefit with your unique tax status. All this and much more is what you’ll be bidding farewell as a full time worker, so the decision is yours.
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