The contracting industry is increasingly in demand with many companies continually requiring the help of contractors to ease their work flow. This is of course great news for the contractor community and we are witnessing more industry professionals start their contracting journeys because of this need.
To professionals who prefer the security of full time employment, or may even be cautiously considering the idea of contracting, there may be a lack of understanding to why this method of hiring is so attractive to companies.
For those seeking reassurance about the reasons behind companies’ decisions to use contractors, it is very easy to endorse contracting as a growing industry and ease any fears potential contractors may have in entering it.
Surprisingly, there is still a belief that many companies would prefer to hire someone full time instead of taking on a contractor to work on a specific project for a set amount of time. This isn’t necessarily the case. With the work world constantly evolving, companies are having to adapt to different work scenarios and show flexibility as a business in order to achieve their goals, whatever they may be.
Work for a company is not just an in-house team working towards something long-term. Like any place of work, short term problems may arise that need immediate solutions which an in-house team may not have the time or skill set to solve. In most cases these are issues that require a very specific skill set and it doesn’t always make sense economically to hire someone permanently to fix what could be a one-off problem. These problems could be something as complex as I.T, or as simple as data cleansing.
Time and money is of huge significance for any company today. Hiring is a time-consuming process and hiring someone full time is something that requires a great deal of resource and long term thinking, as well as a great deal of expense. When hiring full time, companies need to think about whether a person will fit into their organisation and have the right personality to grow with the company. When hiring a contractor on what could be a short-term project or challenge, consideration for employee personality goes out of the window and there is greater focus on whether the person has the appropriate skills to do the job correctly. This work will usually be needed to be done straight away, and with this companies would rather the hiring process be as quick and cost effective as possible. If they have the capability and skill to do the work, a company will want to hire this contractor straight away.
Hiring contractors for specific projects also saves companies a lot of money long term and may even help their full-time recruitment budget grow as a result. Although contractor fees may be high at times, companies hiring these contractors will not have to worry about other long terms costs that they would usually incur with full time staff such as holiday and sick pay, and benefits such as medical insurance. Hiring contractors means the money companies pay is 100% for the work delivered by the contractors.
Contracting is an industry on the rise and will continue to be in demand. Why not start your journey as a contractor and pre-register at iContract, the new platform that connects contractors and recruiters.