Historically, people who decided to be engaged on a contract were seen to be in a higher risk, higher paid position. The lack of security in the role was an element which would often create reservations in whether or not it was advantageous for the individual.
Today however, we are seeing an increasing change in mindset. Individuals who are employed in this model may be able to find more work in a rapidly changing economy. Where once employers insisted on staff being permanent employees, there is now a consideration to fill certain roles with contract staff due to the flexibility this allows both parties.
One of the main attractions to contract work is the variety of exposure and experience available to the employee and the career progression this can bring. Talent Blueprint currently provide payroll and tax compliant solutions to contract staff across Australia.
The obvious benefit when it comes to permanent employment is the increased job security and stability it offers, however as we have seen recently that a slowdown in the private sector would force companies to lay off both contract and permanent employees. A permanent role is often clearly defined with fewer variables, perhaps resulting in a focus or expertise in a particular field. The Employer provided training and advancement opportunities lead to a clearly defined path for career progression. Permanent employment also comes with company paid benefits, paid leave and lack of tax responsibility.
Which is right for you?
In short, the choice of permanent or contract is a personal one dependent on the employee’s preferences and situation with both having their pros and cons. We would welcome the opportunity to discuss any aspect of permanent or contract employment and the solutions Talent Blueprint provide.