4 Benefits of Contract Work

Despite the allure of certain benefits like health insurance or 401k matching, contract work has remained a vital and steady part of America’s unpredictable labor market, especially in the recent years. According to the American Staffing Association, “U.S. staffing companies employed an average of 3.08 million temporary and contract workers per week in the first quarter of 2016, up 0.3% from the same period in 2015.” 

Temporary workers have the ability to fill critical voids in our work landscape, and “95% of organizations today perceive their contingent workforce as important and vital not only to day-to-day operations, but also to ultimate enterprise success and growth, ” according to a recent study from Fieldglass

Still not convinced that contract work is the right fit for you? Here are 4 reasons why millions of workers choose to remain in the temporary workspace.  

  1. Creating Your Own Work/Life Balance
    Since contract positions often begin with an end date in mind, employees have the opportunity to organize their work schedule around their lifestyle – rather than it being the other way around. If you want to line up another project immediately after your current one ends, you can. If you want to take a month off in between jobs to travel, you can also do that. If you want a job that offers flexible hours and remote capabilities, no one can stop you. Contractors aren’t bound by PTO policies and the notion that we should be working 9am to 5pm, every weekday until retirement – meaning you can find the right work/life balance that works for you.
  2. Negotiating a Higher Pay Rate
    If a company is looking to hire a temporary employee, it usually means they have a critical need that’s short term. What does this mean for you? Potentially higher pay rates! Because of a contractor’s short duration, lack of benefits, and the company’s need to bring on additional workers, employers have more room to pay top dollar to secure the right temporary talent for their team. It’s also worth noting that temporary employees get paid by the hour. Unlike full-time employees who are paid on an annual salary basis, you get paid for every hour you work, oftentimes including overtime pay.
  3. Changing the Pace of Your Work Day
    Although there are some people who will enjoy working at the same company for five, ten or even 20 years, contract jobs are a great alternative for those who seek recurring change when it comes to their career path. Regardless if you’re interested in working in a single specialized field or willing to try positions in various industries, each project creates the opportunity to work at a new organization with different job duties, managers, coworkers and more.  
  4. Finding More Work Opportunities
    Whether you’re looking for temporary positions or full-time employment, you can’t get a job if companies aren’t hiring. People are often attracted to temporary assignments so they can have the freedom and flexibility they want. However, in order to build a successful career out of temping, you need to feel confident that you’ll be able to find a job when you need one.

A good thing about the changing job market is that more and more businesses today are capitalizing on the immense value that temporary employees bring to their business, especially in larger metropolitan areas like New York City, Los Angeles and Chicago. So what does this mean for you? More available job opportunities, giving you the stability you need to succeed.