[Blog] Contracting Debunking

Debunking contracting myths

Published on 1st April 2020

Contracting has never been more relevant than it is right now. With most industries across the board feeling the impact from external forces, companies may have to take a second look at their hiring strategies. Despite this, not all professionals are open to the idea of Contracting due to the myths and stigma surrounding it. Read on to find out more about the myths debunked from an Accountant in the Retail industry.

 

1. Most contracts are on a fixed period and tend to be short-term. What sort of experience can you gain in such a short time?

I understand how those who have never taken up contract roles might have such questions, but you can learn new things and gain valuable experience no matter where you are if you have the right mindset. 

From my personal experience, the contract roles I've taken up have provided me with project experience on top of the exposure to different industries and company cultures. As you'll be working with different companies, it's a good way to learn new systems and how each company works. If I had been working in the same company all this while, I wouldn't possess the broad experience I have today.

 

2. How did you start your Contracting journey? What changes have you witnessed since your first Contracting role? 

The company I started my journey in was a reputable industry leader and it was common knowledge that it was hard to get in. When I was looking for a job, they had a contract position to help with a global project, so I decided to give it a try. It was definitely a good way to boost my CV.

Over the years, I have learnt that even within the same industry, different companies have quite different practices and daily operations, so it has broadened my horizon. It also allows me to bring more value and ideas to my future roles.   

 

3. There is some stigma surrounding Contracting such as lower job security and the lack of benefits. As a contractor, have you experienced this yourself? If yes, why do you choose to continue working on a contract basis? 

I still prefer taking on contract roles as it usually offers salaries that are slightly higher than the market rate. So, even if I get slightly less annual leave or medical coverage, I don't feel I'm at a loss. Whether you're hired on a permanent or contract basis, benefits differ from one company to the next.

With regards to job security, I have seen how permanent headcount can be made redundant due to company restructuring and cost control. So in my opinion, there is not much difference between contract and permanent staff with regards to job security. 

 

4. What is your advice to those who are considering contract roles? 

When choosing a contract role, think about what experience or exposure you’re keen to get out of it or the skills you currently lack. Contract roles usually have lower requirements so there’s definitely a good chance for you to gain the skillset you want.

 

5. How has Ambition helped you in your journey?

They provided me with a thorough analysis of the pros and cons of both contract and permanent positions and guided me throughout my decision-making process.

They also made sure that the contract role I was introduced to provided me with the skills that I’m looking for.