Advantages and Disadvantages of Contract Employment

With a contractual employment, an employee enjoys much flexibility in the work they do while earning. This can be a good opportunity to employees who are creative, interested in accomplishing their education and many other factors.

Job satisfaction has many areas. The task involved, pay rate per hour are some of the considerations that most jobseekers look at. Nonetheless, the decision to take up the opportunity might be a determinant factor of whether or not a particular employment opportunity will be a good career move.

A contract employment means that you are not a permanent employee of a company but you work as temporary personnel hired for a particular contract period. This type of employment comes with its own advantages and disadvantages that one should weigh before deciding to accept the offer.

Below are the advantages and disadvantages of contract employment. You may also be interested to read about Toronto employment lawyers.

  1. Freedom and flexibility

When working on a contract employment basis, you enjoy a greater flexibility in planning than when working as a permanent employee. You get an opportunity to make your own working plans so long as you will complete the work within the required time and to standard. This type of employment is suitable for people who wish to control their own working schedule and realize a good work-life-balance than they could realize when their work plan isdictated by their employers. Nevertheless, such flexibility might be tough for someone who prefers set time limits and expected scheduling.

  1. Scarcer competition

This is also a benefit of working as a contract personnel. Contract employment has less competition that is experienced in permanent employment. As a result of less competition, staffs have an opportunity identify what they are good at and how well they can handle a given task. By so doing, employees’ confident is enhanced since they get an opportunity to know more about themselves and when they move out in search of permanent employment they have more options.

  1. Awesome pay for work done

When you work on a contract employment basis, you enjoy a better pay for the actual time you have worked. Moreover, you are not obliged to follow regular employee policies like office briefs and other time-consuming occasions. Also, when on a contract employment term, you often work from locations and not the contractor’s workplaces which increase the chances of telecommuting, thus minimizing time wastage as there is less traveling to and from work which increases productivity.

  1. Lack of employee benefits

When working on a contract employment basis, you are not entitled to employer-paid benefits which include health insurance, paid vacation and sick leave. Instead, you are required to take your own insurance and retirement accounts when you decide not to work on a permanent basis. These expenses could shrink any pay advantages a contract position comes withwhen compared to a permanent employee position.

  1. Job security

Job security is also a disadvantage that comes with a contract employment basis. On contractual employment, there is nojob security since positions are always for a short period of time either monthly or years positions. When a contract expires, you are required to either apply to be considered for a renewal of your contract or hit the road again in search of another opportunity.