Elite Executive column: Freelancing, contracting or not?
Contracting is one of the fastest growing employment arrangements in Australia and around the world, according to the Australian Bureau of Statistics. Independent contractors account for 28% of the Australian workforce. But what are the benefits to the individual and to the company thinking of employing them?
Most businesses will employ a contractor to perform tasks that are only required seasonally or for short periods of time. For example, businesses may require contractors to cover particularly busy periods such as end of financial year or Christmas or just to cover whilst sourcing a full-time employee. But what are the pros and cons in becoming a contractor and why would you consider it at all?
Contractors are usually paid more for their work because they are often employed on a short-term basis. Rates can increase even further when skills are in short supply or projects need to be completed at short notice.
The ability to work on different assignments and companies which can provide you with a wealth of experience plus getting involved in new and exciting projects can appeal to those who get bored easily or find routine mundane.
This could be considered a pro if you are looking to travel or further your education between assignments or it could be a con if you need to be earning an income on a regular basis.
Contracting not also gives you the ability to pick and choose who you work for, and surround yourself with, but it also helps to circumnavigate the matter of office politics which is favorable to those who prefer to simply go to work, to work!