To get a permanent and stable job has always been such a norm for most of the job seekers. Work at the same company and stay for more than ten years until retirement might be a trend in the past. But when it comes to the current digitalized society, the job trends have been altered. Each person is interested in different term of employment that suits to their lifestyle, such as a part-time or freelance job. But there is also another employment type which has also become popular in the market which is called contractual employment. Contractual employment means working only for a specified amount of time and ending upon completion of a project or assignment. We have provided the list of pros and cons of the contractual job as follow:
Specified employment period:
Commonly, this type of contract is close-end employment, which provides a concrete work duration or working period. It means the employee will know when their work contract ends. It is considered good choices for those newly graduated university students who are still confused about their first jobbers' life. They can spend the time while they are under contract consider if this type of job suits them. If it is not, then they can move on to explore something else.
In some companies, a contract employee gets better compensation than others in the same industry or position. Some companies are willing to pay for the set of skills that they only need for that project for that period they planned. In exchange of that, you might not get the same benefits as full-time employees
Better chance to get converted into a permanent position:
You might see that big companies are not recruiting for permanent employees but mostly provide contract job opportunity. Once you get a chance to work for them, your performance will be reviewed, and if your works achieve the target or goals they set, they might offer you a full-time job!
Unstable career path
It is not suitable for someone who has a long-term career plan. As a contract job always puts a close end into the contract, and some are not renewable. So, the employee should be aware of this and plan their career path carefully.
You might get a lack of benefits comparing to a full-time employee. Those additional benefits require more cost per head, and to reduce that cost, instead of those health care benefits, bonuses or allowances, the employee will receive the compensation in terms of higher payment.
These are the well-known pros and cons of a contractual job. If you are considering taking one, the first thing to notice is what you plan for your career path, and if you are ready to get something but at the same time lose other things. There are plenty of opportunities in the market, so you should look for something that matches your working styles and need.
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