Why contracting roles can be a safe bet in 2023
With the upcoming global recession and potential market instability, are you worrying about the chance of seeking a promising job in 2023? It is a fact that companies are getting more conservation in job openings in the coming year, many of them are still actively offering contract roles for projects and flexible headcounts.
Though contracting is a rewarding and respected career choice for professionals in Hong Kong, many misconceptions remain. Professionals are often hesitant to move to a contract position. Some common concerns include being regarded as a 'jumpy' candidate, the lack of job stability and unclear career development. However, as the contract market continues to evolve, some of these perceptions no longer hold any truth and there are some key benefits to working as a contractor.
You can potentially earn more with contracting
Higher pay can be a key benefit of working as a contractor. Many companies are now recruiting for skilled contractors that possess strong technical and soft skills, contract positions are no longer only for entry-level roles. Contract talent is being hired across seniority levels and across various industries, and more so for tech niche roles.
While companies save on headcount, they are able to offer higher salaries to attract professionals.
A chance to acquire new skills
Many contract positions are project-based, allowing professionals to be exposed to new systems and processes, learn new skill sets and build expertise in specialist areas. Short-term assignments are a great opportunity to improve your expertise, learn new skills and even make useful connections within the company and industry.
Shorter Interview process compared to perm roles
It is a norm to go through 3-5 rounds of interviews for perm roles, which sometimes span more than few months. Shorter interview process is another key benefit for contracting. Some positions require candidates to start immediately and there will typically be no more than one or two rounds of interview in this case, making it slightly easier for candidates to qualify for such roles.
Enrich your profile with exposure to different industries
Contracting allows professionals to try before committing to anything long-term, making it ideal for those who want to switch industries but aren't sure which way they want to go yet. Moreover, candidates often find it easier to start with a contract position as companies are more open to considering jobseekers from different backgrounds. Having worked across multiple industries and having acquired different skill sets, you can definitely gain a competitive edge.
Higher flexibility and better work life balance
For professionals who want a better work-life balance and prioritise mental and physical health, contracting might be the answer. This works perfectly for candidates who are interested in stop-gap employments and then take a few months break between each contract to go travelling or to take up short courses to upskill themselves. Contracting offers the freedom that might not be possible to have in permanent roles.
All in all, Professional contracting is now a respected and viable career choice especially those who possess in-demand skills. Many employers also utilise temporary staff to assess the skills and fit of potential employees for their companies. In fact, many of our contractors are converted by their companies to permanent employees at the end of their contract terms.
Interested in exploring contracting roles in 2023, speak to one of our recruitment specialists now.