We often say there is no better time to be an independent contractor in Canada, and we genuinely believe that. If you’re considering contract work but are unsure if there’s enough opportunity, consider this: ALL great companies use some form of temporary or contract help at various times.
Here are just ten reasons why they do that!
- For project work. Assigning full time staff to a project (a) is sometimes difficult; (b) can cause problems in the role you take them from; and (c) can create issues at the end of the project if there is no new role available. Hence using a contracted solution works well.
- Work with an uncertain future. It might be an initiative with promise, a pilot of a new line of business or any “high risk” venture. Companies don’t want to risk having their employees left with no job if the initiative gets canned!
- Filling in for staff who are away. Maternity leave, sick leave, leaves of absence are just some examples.
- Filling in the role while the company looks for the permanent person. Sometimes that “stand in” person becomes the permanent person, and sometimes companies just need an “interim manager” while they find the perfect candidate for the full time role!
- Someone with a very specific skill set. The knowledge isn’t in the organization, but they don’t need that expert forever!
- Requiring a “non-partisan” opinion. Companies may seek advice from an expert who has no political ties inside the company.
- There’s nobody who has every skill. A company may have money for one headcount, but that headcount needs to have different skills at different times: three months of logistics skills around the holiday season, three months of financial skills around year end closing, and other skills the rest of the year. That’s three different three month contracts!
- Knowledge transfer. There may be a requirement to get employees up to speed on a new system, technology, process etc. In this case, companies often bring in the expert to work with them through a transition period.
- Cost containment. Contractors are often a more cost effective solution than a full time employee. When you factor in the cost of hiring, career & HR management , training, loaded benefits, pension costs and the potential of severance costs, a contractor is often a great answer.
- Opportunity cost. For many companies the cost of not advancing a project or other agenda is far greater than the cost associated with bringing in contract help. If it needs to get done and they don’t have the resources on staff, they bring in contract help!
These are only 10 of the many reasons companies need contractors and, therefore, only 10 of the many reasons there are plenty of opportunities for contractors in today’s economy. Whether or not it’s for you depends on many variables, but don’t rule it out. If you have questions, reach out to a recruiter at your favourite staffing company or leave your questions in the comments below. We’re always happy to help!