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What are the benefits of contracting?
Australia’s trend toward employing contract staff continues to increase as companies recognise the need for a more flexible workforce, as well as the business benefits that go with this. Contractors are increasingly used to support busy periods, cover maternity leave or long service leave, and provide specialised skills for specific projects. To decide if contracting is the right career move for you, here are some of the key benefits to consider.
Contracting will provide you with flexibility to work in a way that suits your personal circumstances. It also gives you the freedom to choose when and where you work, as well as the assignments you would prefer to undertake. The flexible nature of contracting allows for holidays or time off between contracts, giving you greater control over your work/life balance.
Contracting is a smart way to broaden your experience and diversify your skills. Gaining exposure to a wide range of companies, industries and assignments is an opportunity to learn new skills and gain exposure to different management styles, cultures, processes and practices. This bank of broad experience then becomes transferable to your next job.
Contracting can provide constant stimulation for people who enjoy a diverse working life. Contractors often work on a variety of projects across different environments, locations and industries, meeting new people in new companies with each new assignment.
In certain sectors, contractors are paid significantly more than permanent employees in similar roles. It’s not uncommon for contractors to earn up to twice as much as their permanent counterparts, with the added bonus of overtime pay for every extra hour worked. This does, however, need to be considered against no paid sick leave and no annual leave.
If you’re out of work or between jobs, contracting is a great way to stay in the job market and keep your skills current. It can also be thought of as a stepping stone to your next role as it can be undertaken while seeking permanent work options, taking the pressure off the job search and providing current referees. You will, however, need to adapt your CV for contracting roles so be sure to spend some time going over it to ensure it’s targeted correctly and set out for optimal success.
A key benefit of contracting is the opportunity to build relationships across a number of different companies. Providing an excellent service to each employer will build your reputation as a talented and reliable expert. Creating a wide network and strong reputation can then help you obtain further contract work, or open the door to more permanent opportunities. You may also prefer to move around and work with different teams, compared to seeing the same faces every day, five days a week. One thing to note here is, as a contractor, there are several ways to fit into a new team quickly.
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Contracting is a great way to get your foot in the door of companies you’re curious to work at. It allows you to prove your worth, and shows how you are able to fit and adapt in the corporate culture. It gives the employer an opportunity to assess you for upcoming roles, while you experience the company or position before committing to permanent employment.
Talk to your Page Personnel recruitment consultant about the current contract opportunities in your profession.