Hankering for a permanent job? Think again.
Industry reports reveal trends that show a marked preference for Contract jobs over permanent jobs as the preferred mode of employment.
So is it a good idea to opt for a short term job rather than a permanent job?
It's true choosing a Short-term job Vs Permanent job is one’s choice however there are some undeniable merits to choosing a contract job over a permanent job - especially in the IT industry.
a) IT industry is completely knowledge driven and the more one works in varied technologies and projects the more demand you create for your skillsets. Working on contracts that are exciting and new can happen only with contract staffing.
b) Contract staffing is a way to demand more. Unlike service/outsourcing firms that look for huge margins, contract staffing companies pass on the majority of the revenue to the consultants hence helping one to make more money as compared to a full-time employment.
c) If you’ve been working in an organization and are not getting enough hike/rise and over years you have had less rise as compared to the industry standards, picking a contract job and normalizing your pay at par with industry is a very good option.
d) If you are a person who is very good in your area of work, are enterprising, and are willing to experiment to get more rewards, you should definitely opt for a contract job.
e) If you are a person who is confident of your skills and would not want to spend all your life working for one company but take breaks and enjoy life while you work, a contract job is perfect for you.
Is India a gig economy?
India is not traditionally considered a gig economy but is very fast moving towards becoming one. Indian economy was very conservative where people always used to look for savings.
The latest generation has changed so much that spending has increased multifold. With the spending, comes the drive to earn more. The IT industry, which is a knowledge industry rewards learned and the right experienced people. Working in the same organization and growing in the organization has become an old fashioned concept and upgrading skills is the in-thing. Upskilling and working on challenging stuff can happen only if individuals work on short and challenging work assignments. As days goes by, the need as well as the want to work on short assignments will rise and India will soon become a gig economy.A gig economy will pave the way for India to become the top economy in the world.
What other countries encourage contract assignments? All developed countries like USA, UK, Singapore, Australia, Canada are gig economies where there is an abundance of contract jobs and people prefer to take up contract jobs than full time employment.