Still recovering from the repercussions of the unwarranted effects of the COVID-19 pandemic, the job market has changed significantly. But one good thing that came out of it is the rise in demand for contract job workers.
In light of the economic crisis brought on by the pandemic, many organisations all over the globe had to make adjustments to survive the coronavirus storm. One of the steps they had to take to accomplish this was reassessing their manpower needs. So, many employees got laid off, millions in India alone. Faced with limited budgets and resources, many organisations tilted towards contractual hiring. Why? Because employers will be able to compensate contract workers only for the duration their services are required.
This contract-to-hire employment strategy has also proven to be quite a win for skilled personnel. Again, many employees were let go in the wake of the pandemic. So, job scarcity was another added issue. The number of job seekers increased in the already high unemployment rate.
However, employment hunting did become fruitful for many. Thanks to online job marketplaces such as contract-jobs.com, many job seekers could actively hunt for employment from the comfort of their homes during the pandemic. And to this day, many skilled professionals are still leaning toward contract jobs.
Now, why exactly is it that there has been a surge in demand for contract-based jobs? To understand this, you need to know the many benefits contract jobs offer employees and what contractual hiring offers employers.
For Employees: Benefits Of Contract Jobs
- Contract workers get to enjoy a flexible lifestyle. For Gen Zs and Millennials, the concept of a 9-to-5 job is no longer enticing. Work-life balance has become important for one’s mental and physical well-being. So, many are looking for jobs that will allow them to work for a specific period of time. Moreover, they get to work on their own terms and take on roles they are comfortable with or are good at.
- People who take on contract jobs, work with various organisations and meet new people. This way, they expand their network with the right people in the industry for future references.
- Developing skills becomes easier when people work on different projects for different organisations. The exposure to different kinds of professionals who will be able to impart knowledge to them through their experiences helps contract workers to enhance their skill sets.
- As the demand for contract workers has significantly increased over the years, many contractual job opportunities exist for job seekers, be it in the private or government sector.
- The option to take on contract jobs while pursuing their dream helps people tremendously.
For Employers: Benefits Of Contractual Hiring
- Depending on the manpower requirement, employers get the flexibility to choose candidates who possess various or specific skill sets on online job marketplaces such as contract-jobs.com when they need them.
- Contract hiring is cost-effective for employers. When employers hire a full-time permanent employee, they will have to compensate them every month for years. However, with contract workers, they will have to pay them only as per your work demand. Moreover, contract workers will have their own equipment or devices to use to complete their projects.
- Employers will not need to spend extra time, resources or money to train contract workers. Plus, the company benefits and perks offered to permanent employees are not necessarily extended to part-time or contract workers.
- As contract employees stick to their areas of expertise, employers can expect to hire experienced and skilled personnel.
- As more and more Gen Zs and millennials look for flexibility in work, many gig workers are seeking contractual employment. So, employers will have a long list of candidates to shortlist.
- When employers hire contract workers, they get the opportunity to see if the new hire will be a good fit for the company. If they like the temp after a test run, they can extend their contract or offer them a full-time job.
The misconception that contract jobs don’t sit well on one’s resume is a misconception. Contractual jobs are the perfect pieces to fill the employment gap for those who haven’t worked in months or years.
With the advent of work-from-home and work-from-anywhere options in many organisations, the demand for contract jobs is higher than ever. So, it is safe to say that it will indefinitely be a huge part of the new job market trend.
