Contract Work

27 05 2009

The good and bad of contract work
Thinking of taking on a contract-based job? First consider some of the pros and cons:

Pros:

  • Flexibility for those who like the freedom of working on preferred projects and for different companies
  •  Opportunities to explore new firms and sectors and to learn new skills
  •  Freedom to decide your working periods: you can work for six months and take a three-month break

Cons:

  • May not get the same level of compensation or an equal range of benefits as full-time employees
  • Lack of job security as it is the company’s decision whether to renew your contract
  • Possibility of a ‘gap’ between contracts if you can’t find another job immediately after the previous one expires

Sources: Robert Walters, The GMP Group, Mercer

 

 

More seek contract work
Professionals less picky as jobs become scarce amid recession: Poll
By Fiona Chan

AS THE recession continues to erode the job market, it is changing the rules of the employment game. Contract-based work is getting more prevalent as companies look to slash costs and individuals get less picky about their jobs, according to recruitment agencies.

A recent survey by recruitment consultancy Robert Walters found that professionals in Singapore were showing ‘an increased interest in taking on contract work’, with as many as a third of the respondents happy to do so in the dismal economic climate.

Fifty per cent of them would consider contract work if no permanent positions were available, said Robert Walters.

This was in stark contrast to the job-rich years leading up to last year, when job seekers shunned such non-permanent positions, the consultancy said.

‘During the boom times, many candidates were reluctant to take on contract roles, as there were many permanent opportunities available,’ said Mr Calum Smith, a consultant at Robert Walters.

‘With the current economic conditions and the shrinking of the job market, we noted that they have become less picky and more open to considering contract work.’

Financial recruitment firm Robert Half said it had also witnessed more job seekers expressing an interest in contract work because of the ‘tight’ job market.

Although the positions are temporary, they provide an opportunity for unemployed professionals to earn an income, make new contacts and improve their resumes, said Robert Half’s managing director Tim Hird.

‘What starts off as a project role may also turn into a permanent position,’ he said.

Read the full story in Monday’s edition of The Straits Times.
Source:StraitsTime

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