How contracting is changing attitudes in traditional industries
The move away from permanent 9-5 roles has encouraged many industries, such as finance and law, to hire contract employees and encourage flexible and remote working. Along with this change, many traditional industries have updated their attitude towards this type of employment. Organizations should be seriously considering how the growth of contracting has changed attitudes in industries – and how attitudes will impact organisations moving forward.
Contract work vs permanent
There are many benefits deciding to take on a contract role rather than a permanent one. When working as a temporary employee you have the flexibility to choose to take on contingent work whenever it suits you best. This also means that when you have completed a contract you can take as much time as you like away from working life before entering into a new contract with another company.
Temporary employment is also the perfect opportunity to try out working in a certain type of industry. With employment rates and talent retention figures shrinking in industries such as finance and law, contract work is a good way for companies to fill gaps within teams and find talented employees. With this in mind, companies within traditional industries are rethinking the way they recruit, with many offering flexible working patterns and updated employee value propositions (EVPs).
Going from contract to permanent:
The changes to working within traditional industries have been more prominent in advanced economies across Europe and North America, where technology is more progressive and markets are more developed. The growth of contract work has caused a sense of alarm with companies as it is unclear what the responsibility of the employer is when it comes to temporary employees.
Flexible employment is a major draw for workers moving towards contract roles. Employers are now allowing people to work from home in and out of office hours. Freelancers may be able to hot desk meaning office expenses are reduced.
The gig-economy market may become more common with traditional sectors adopting the evolution of job flexibility. In the near future, many people could have permanent roles within traditional sectors while working flexibly out of traditional hours to increase their income. This means normal 9-5 work may be in jeopardy, with traditional industries and corporations changing their attitude and quickly adapting to accommodate contract and flexible working. Read more about how you can become a Momenta Associate.