Job security and benefits are the two main reasons why people are reluctant to move into a contracting role. It’s understandable. A permanent job offers all the security that people are craving in these uncertain times. You get holiday pay, sick pay, pension and even things like health insurance and gym memberships are sometimes thrown in. So why do people venture into the world of contracting?
I am paid what I’m worth
A high percentage of contractors say that they are remunerated far better than their permanent counterparts. 60% of contract workers strongly agree with the statement ‘I am paid what I’m worth,’ compared to only 42% of permanent workers. But higher levels of compensation come at the price of having the insecurity of a role that could finish at any time and a none existent notice period.
Flexibility and Control
Studies indicate an increase in contracting jobs and that these individuals are finding a higher-level job satisfaction than their permanent employed colleagues. But why? Flexibility and control are some of the other reasons that contractor levels of satisfaction are high. They have the flexibility of choosing a role from one year/month to another without being tied to a single company or job. These guys never find themselves in a career rut. They are fully in charge of their path.
73% of contractors have given a positive feedback with regards to their growth potential in their current role as good or excellent and 86% say that their current level of job satisfaction is very good or excellent when compared to permanent workers.
Past researched have concluded that increase in job satisfaction is linked with improved health, particularly with mental health issues such as stress and depression. On average, employees with a low levels of job satisfaction are most likely to experience emotional burnout, lower self-esteem together with an increased anxiety and depression. So it seems that although the contracting life isn’t for all, there are many benefits of choosing a contracting path.
How can White November International Contracting help?
White November have helped 100s of permanent employees take their first step into contracting, giving them the safety of being employed through our sister companies and making their first steps into contracting a lot easier by taking control (and responsibility) of all their taxes.
If you are interested in finding out how easy we can make it for you to take that first step get in touch with one of our Relationship Managers for a chat.