Contract vs Full-Time Employment: which option is right for you?
The way we work has changed drastically and so has the way we seek out employment opportunities. With work options that include full-time permanent and contract positions, you’re sure to find an employment opportunity that meets your needs.
Traditionally, gaining permanent full-time employment signalled the start of your career, but that’s no longer the only option available. Whether you choose to go the route of permanent full-time or contract/freelance, it’s important to weigh the pros and cons to make the best decision for you. With that in mind, here are some elements of employment that can help you make a decision between contract and full-time employment.
Benefits
If you’re considering the questions to ask before you accept a contract position, benefits have to make the list. After all, a benefits package offers great value, from medical coverage, paid sick leave, pension plans and more, that can provide security during and long after your employment.
Choose full-time if…
Securing a comprehensive benefits package is important for you and your family. Whether you are starting a family or approaching retirement, a benefit plan that includes parental leave, medical benefits and a pension plan can offer a great deal of security.
Choose contract if…
One undisputed disadvantage of contract employment is the lack of a corporate benefits program. If you’re covered under a spouse’s or family member’s benefits package, landing a permanent position with benefits may not be at the top of your priority list. Alternatively, look into investing in individual coverage direct from insurance providers to cover the necessities.
Security
Considering whether to take that 6-month contract job? A lack of security may be holding you back.
Choose full-time if…
If the thought of unemployment makes you anxious and you rely on the security your full-time work provides you, chances are you’ll be happier in a full-time work environment. Permanent employment offers security advantages to the employee ranging from benefits to termination notice, meaning you can rely on a steady income with no unfortunate surprises.
Choose contract if…
Sadly, contract employment offers minimal security in terms of employment duration resulting in unpredictable income. However, with the ability to charge more for your services than a full-time employee, contract workers have the potential to earn a higher annual income. With a little discipline and effective management of your profits, you’ll have no issue dealing with short employment lapses that you may encounter.
Flexibility
Looking for a change from the nine-to-five grind? Bring a little flexibility into your work day!
Choose full-time if…
Not cut out for hopping from job to job, employer to employer? Don’t worry — not everyone is! If you find yourself questioning if you should take that contract job and you struggle to quickly develop a new routine, you may be best suited for a full-time job.
Choose contract if…
From sampling some of the best employers to creating the perfect work schedule to fit your peak periods of productivity, if you’re looking for an option to be in control of your work schedule, contract employment is the route for you!
Development
Find that perfect employment opportunity that focuses on professional development.
Choose full-time if…
When you’re a full-time colleague, organizations are committed to your success and development in an effort to reduce turnover and increase productivity. This means that your professional development is a reward for hard work and follows a natural progression from additional training, promotions, etc. If you’ve found a field and employer you’re happy with, full-time employment can help you achieve your professional goals.
Choose contract if…
Are you ready to take control of your career and development? As a contract employee, you’re the boss! You’re directly in control of your financial take away and can reject or accept whatever offers come your way. Not to mention, contract employment is a great way to get your foot in the door of some of the best companies in Canada (that could even potentially lead to a full-time role down the road—if that’s what you want).
Whether you are looking for full-time permanent or contract roles, Adecco has you covered! Contact your local branch today to learn more about available job opportunities and how to register.
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