There are endless benefits to contract employment, although many people will only consider permanent positions – bypassing the fantastic opportunities that come with interim work!
We’re here to help you realise all the reasons a contract role may be right for you. From making more money to flexible hours and an improved work-life balance, keep on reading to find out the amazing advantages that come with contract employment… 👇
What is interim / contract employment?
Interim employees are needed at all levels of business across different sectors. This is when you are brought into a company to help (typically) with a more urgent requirement, like a project, covering a period of maternity, long-term sickness or during a growth phase where multiple hires are needed quickly. There are also scenarios like a permanent hiring freeze, or perhaps where the norm with our client is simply to hire on a temporary-with-a-view-to-permanent basis via ourselves to ensure the ‘fit’ is right for the team before confirming a permanent appointment.
Working as an interim employee/contractor can take different forms, from rolling contracts based on daily or hourly rates to fixed-term period contracts. A career as an interim can bring many benefits in terms of variety, meeting interesting people in new and exciting sectors, and enjoying new experiences and challenges across different projects and companies that require your skill set.
⏳ Greater flexibility
Working in contract/interim employment means you have more control over the hours you work, which is one of the main positives we receive from hundreds of those in the contract workforce - many of whom have been in continuous employment through ourselves for well over 10 years. Who wouldn’t love to be paid for every hour actually worked?! If a 9 to 5 work week isn’t the norm for you, and you essentially do an extra 10 or 15 hours for free every week, then you could thrive in an interim contract and add 20-30% to your salary in the process! Instead of having to be in the office on set days and hours, in an interim role you can often set your own hours as long as you fulfill the duties set out in your contract.
💸 Increased salary
Typically, the normal pay for a contract role is 5-10% above the market rate. The extra amount is to cover any short period of unemployment in between contracts. However, when you factor in overtime/extra hours being paid, contract work can often pay significantly more than permanent positions. You are also paid weekly, so there’s no need to wait until that monthly payday! If that all sounds appealing, then interim employment could be much more suited to you.
🏖️ Control over your holidays
As you are only there for a short period of time, once you complete your project you’re free to go. However, you can choose when you are ready to take on your next role – many of our contractors opt to take a month’s break between assignments and whether that’s using the salary to enjoy a long holiday or just recharge, you are in control and we will work with you to ensure the contracts you undertake fit with your schedule, not the other way around!
⏲️ Duration of an interim role
When people mention interim/contract roles, there is a misconception of this type of work being 3 weeks here or 6 weeks there. The reality though is the average duration of our contract/interim roles tends to be between 10 to 11 months and usually comes in anywhere from 6 to 18 months as the initially stated duration. We also have a very high success rate of temporary roles being made permanent - this would be higher if it wasn’t for the salary offered actually causing a pay reduction for the contractor!
⚖️ Improved work-life balance
By having control over the hours you work, as well as earning more money, you may find your work-life balance and well-being improve greatly. Not being in the office for five days a week or feeling the weight of office politics or angling for a promotion, can mean you have more free time for yourself.Another huge positive from our workers is simply the number of friends they make as they work from one organisation to the next and meet lots of interesting, new people. We also pay for a local perks card for every single VANRATH contractor, so not only do you avail of an excellent rate, but you also save money on fuel, shopping, high street stores and even holidays!
💹 Gain growth and experience
You can build and add a lot of valuable experience and technical expertise to your CV and portfolio within a much shorter time than if you were in a permanent role. Promotions for permanent employees typically happen every 3 to 4 years, whereas in contract roles you can potentially develop faster. For example, you can go from a Newly Qualified Accountant to a Senior Finance Business Partner or Finance Manager within 2 to 3 years on the back of a couple of sensibly selected contract appointments. This also brings the added bonus of allowing you to move on at the end of a contract with little to no notice period, so you have an inside pathway on any interview process you enter versus a candidate on 3 months’ notice - and you’ll likely have broader sector experience than a rival candidate who has only worked in one organisation on one system etc.
Lastly, undertaking a contract or two massively adds to your confidence and adaptability to new surroundings and systems and you tend to assimilate far quicker than someone making a move after 10 years with one organisation.
🏁 Less competitive
With contract and interim work, there is a lot less competition than with permanent positions. This means you are much more likely to get the role that suits you and, in turn, build your portfolio while earning a large sum of money. It really is a win/win!
If you’re interested in contract work, our interim recruitment team can help you make the right choice! We have several temporary positions you can apply for on our website HERE!
Get in touch with our team anytime at 028 9033 0250.
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