While most people believe contracting pays more than permanent work, there is more to consider when choosing your preferred working status than the hourly rate. If you have the chance of a building your career doing a job you love in an environment you enjoy, why would you ever want to leave?
Here we take a look at some of the specific advantages permanent work has over contracting.
1. You can follow a distinct career path
While permanent work does not come with a guarantee of promotion, the chances of working your way up to a more senior role within an organisation are far higher than as a contractor.
Employers view permanent staff as long-term investments that can be trained, nurtured and rewarded to optimise their impact on the business. Also, it is far easier for an employer to promote from within the company than it is to bring in an outsider, unfamiliar with company processes and people.
2. You can enjoy a package of benefits
As you progress up the career ladder, not only does your salary increase, a range of other entitlements can come along that reward your continued commitment to the company. The most basic of these, paid holidays and sick leave, are considered standard for permanent employees. Others, such as private healthcare and gym membership, are increasingly common.
Add to this the other financial remunerations not available to contractors – such as a work pension, retirement plan and long-service bonus – and permanent employment starts to look very lucrative indeed.
3. You can feel secure in a job you love
In a permanent position, not only do you have the opportunity and build long-term relationships with your work colleagues, you can also relax with the self-assurance that comes with a steady job and an identifiable career path. While contracting can sometimes feel like continually looking for the next job, permanent work gives you the chance to immerse yourself in the job at hand, free from financial worry and job uncertainty.
4. You’re free from admin
When you are in a permanent role you are not buried in admin in the way a contractor can be. While a contractor’s paperwork can be a job in itself – from daily time-sheets to their annual tax bill – permanent employees are free to focus on their work, safe in the certainty of how much they will be paid at the end of every month.
5. You’re part of the team
While contractors are like hired guns, brought in to do their job then get outta town, permanent employees are able to play the long game. So when an employer sees a staff member chatting with colleagues over a coffee, for example, they’re bonding well as a team. When the same employer sees a contractor chatting with colleagues over a coffee, they’re being an expensive time waster who won’t get their contract renewed.