Making a decision between contracting and permanent employment has always been a tough decision for the candidates in the ever-evolutionary IT industry. The choice is a matter of preference and personal opinion and both arenas represent variety of options and challenges to candidates.
Candidates need to assess their personality, their goals and career aspiration in order to make an informed decision about the choice of employment. Whether embarking permanent opportunities or contracting work, there are certain trade-offs associated with each type of work which ought to be taken into consideration in order to make the right decision.
Matrix IT has provided the followings for candidates, which represent diverse outlooks of the choice of employment and school of thoughts from the professionals in the IT industry.
Even though contracting workforce possibly will earn a better income in a more autonomous role, they give up benefits, security, training and opportunity to grow as part of a growing organization. The prospects for candidates to leave permanent employment for contracting opportunities have become widespread. Candidates must understand the ramification for each opportunity before making a decision.
Permanent employment creates experienced people and makes way for both candidates and companies to develop skills. Candidates, which are involved in critical project, take advantage from various elements of working with a company and can utilise the knowledge for future reference, which represents an intangible and valuable lesson.
- Annual leave and holidays
- Sick leave
- Training and development
- Career growth and opportunities within the company
There are varieties of business, which choose to utilise the services of contractors. There are varieties of companies, which employ IT contractors for project based work and hence increasing the demand for qualified contractors has risen.
Companies utilise the services of contractors in order to allow productivity and to decrease the costs associated with permanent employees. Many candidates are unaware of the rewards associated with contracting in IT industry. There have been many myths surrounding the contract employment, but most candidates overlook the most crucial benefits of contracting.
Consider the following benefits:
- Decide when you want to work: Working as a contractor allows you to decide when to work and control your life
- Better Pay: Contractors are generally paid more than permanents employees. Contract employees can also work overtime which means an increase in their wages
- Diversification: Working as a contractor allows candidates to be exposed to variety of technology, which will increase their set of skills. Contractors generally enjoy an extensive variety of skills than a permanent staffs.
- Travel: Contractors have better opportunities to travel and experience different cities and countries.
The drawbacks are:
- Job security
- Contractors might not get the same career opportunities as permanent staffs do
- Holidays and sick leave