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Why you should consider a contracting role

Posted on 10 Jun 2023 by Kevin

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Whether you are in a permanent job, moving from a previous contract role or re-entering the workforce, the idea of taking on a contracting role can be a daunting one. For many years, the idea of a permanent, pensionable job was ingrained into the psyche of the Irish worker, but an ever-changing work environment is now seeing more and more people take on a wide range of contracting roles. So, what are the key questions you need to be asking if you’re considering a contracting role?

The first thing to consider is that as a non-permanent employee, you are likely to not receive the benefits of a full employee. That can include elements such as pension contributions, and can vary from employer to employer, so this is something worth pinning down in relation to the role. Secondly, is the role entirely remote, hybrid or will you be expected to be on site for the duration of your contract? Much of this may be contingent on current public health advice, but worth knowing in advance.

The main question to ask is what your daily rate will be. Bear in mind that a company may offer you the tools required to complete your role; i.e. a chair, a laptop, but again this is something that will vary and will have to be specified by the candidate.

Some companies may offer a permanent role at the end of a contract, and some will not. For some companies, a contract role is simply that, and when the term of the contract or the project comes to an end, so too will your relationship with the company.

However, if a company does offer a permanent role, there are many details to consider before accepting. You will need to ask different questions than you would have for the contracting role, and consider what benefits come with a permanent role and how they balance with your interests. Some people may not be as confident moving from contract work to permanent work, and it could be good to know the difference to expect from both.

If you’re heading in the opposite direction, i.e. moving from a permanent job to a contracting role, the decision can depend on the person. Considerations will include pension, and any potential effect on a mortgage, the latter being a primary concern we see in candidates considering making the leap into contract work.