What Is Contracting?
Contract / freelance work
To work independently and on temporary contracts rather than
working in a permanent employee capacity for a long-term
employer.
Contractor demand
Demand for contract workers fluctuates with employer work load
and project demands, however in the industries we supply, demand
has historically been strong.
Many employers seek flexible resources to be hired on a contract
basis. Many of the companies that we supply are working on
long-term contracts and require interim solutions to work alongside
their permanently employed team.
A contract
vacancy can arise for a number of reasons, including:
assistance on a specific project, short-term specialist skills,
experience or advice required, ongoing interim solution until a
permanent staff employee is hired, interim solution for staff who
are off work due to maternity leave or long-term sickness.
Project Resource always have a varied selection of contract job
opportunities and many of the contracts we offer are for durations
of 6 months or more, working with leading companies, on secure
projects.
Contract versus permanent employment
A contract worker is assigned through a recruitment agency and
is then seconded to an end client for a set period of time. A
permanent employee is employed by the employer and entitled to all
employee benefits this brings.
Companies choose to engage contractors instead of permanent
staff to complete a project or to meet short-term fluctuations in
their business activity or staff levels. Contractors are normally
paid hourly or daily for all hours/days worked, compared to monthly
for permanent employees.
Contracting is performed either on a PAYE basis or through a limited
company. Project Resource request that all contract
workers that we work with should have either their own Limited
company formed, or be willing to work through an umbrella service.
Through such a company you would have your tax and national
insurance paid, and work in the most tax efficient manner.
What are the benefits of contract work?
- Increased earnings. Pro-rata you will probably
earn more than your permanent counterparts, assuming you work
enough days of the year. You will also have more control over
your costs.
- Flexible working. You choose to work, when you
want to work and for whom.
- Work variation. You will work with more
companies, on a variety of different projects, in a shorter space
of time than a permanent member of staff. It suits
professional workers seeking diversity in their assignments.
- Increasing your adaptability. Working contract
can be very demanding: you are normally paid more than a permanent
employee, so it is common that more may be expected of you.
You may be given tight deadlines, work that may be a little outside
of your skills or any other unexpected scenario, all of which add
to your skills & experience.
- Prove yourself. You may not be sure about
joining a company as a permanent employee, so working on a contract
basis will give both you & the employer the opportunity to get
a look at each other, before committing to permanent
employment.