Though many companies have begun contractual basis hiring, there is still a lot more hype around contract jobs than there are some real facts. Many scoff at them, as sometime contract jobs are generally based on the requirement, necessity and urgency of the situation.
It's time for a reality check. Contract jobs can be an attractive option, especially if you're a working mother or a retired professional and need a regular source of income. Even if you're employed but looking to switch jobs or land a new position, contract work offers you to try out a job and keep your resume alive at the same time.
We debunk the biggest myths surrounding Contract Jobs: Myth #1: A contract job is a low-level workReality: With the changing business landscape, workers' needs have also changed over the years. Both businesses and professionals have begun realizing the importance of having greater flexibility at work, especially in jobs like accounting and finance.
Professionals are looking forward to the consulting as it offers them to secure challenging projects, diverse work culture, competitive pay scale, while still working on your own terms and conditions. At the same time, contract jobs let employers fill their positions that demand years of experience – for both immediate and long-term projects without increasing the head count.
Myth #2: Contract Jobs are short term, sporadic and low payingReality: The salary in contract jobs vary according to the position and skills required, as in the case of regular jobs. In fact, employers are more considerate of the consultants’ needs and offer adequate variable and fixed bonuses, benefits for family and other allowances thereby making a contract job more competitive than regular jobs.
As for the tenure of the contract jobs, they offer a flexi work arrangement allowing the consultant to work for fewer hours than a full time role; skilled professionals can work as much as they want.
Contract jobs can last from a few months to more than a year or two years. Moreover, extended assignments are even more likely in the current business environment, as more employers wait for signs of a sustained recovery before adding full-time head count.
Myth #3: One cannot show a contract job on a resume
Reality: With a high proliferation of contract jobs, interim assignments have nowadays been regarded as high-level consulting projects than so-called "contract work". Recruiters very well understand that project work offers short term but valuable experience and has the ability to add to the individual's skill set. This is also one of the reasons for more and more people, especially working mothers to consider a long period of consistent contract job than a full time position.
Myth #4: Contract jobs do not let to develop new skills
Reality: Contract work generally includes projects and assignments that need specialization and a particular skill set. They can be highly challenging and demand to stay abreast with the industry knowledge and developments and offer complimentary training to help project consultants continually upgrade their skills and earn recognition.