Contracting is a great way to take control of your career, and for many people, it’s the best decision they’ll ever make! However, while contract work can be very rewarding, it isn't for everyone. So, how do you know if it’s right for you?
If you have ever wanted to know more about what is involved in becoming a contractor, this is your chance. In our recent webinar, we invited a panel of three experts to share their advice on contracting and what to keep in mind if you’re thinking about making the switch.
During the session, Hnry Co-Founder and CEO James Fuller, experienced Programme and Project Management contractor Jenny Williams, and our Wellington General Manager Ben Pearson, sat down to unpack their recommendations for those interested in making contracting into a full-time career.
Below is a summary of the key takeaways from the session to help you understand more about the risks and rewards of becoming a contractor and start carving an exciting new career path.
Contracting as a Career
Over the past year, we have seen a huge spike in interest around contracting as a career from those seeking more variety and flexibility in their working lives. Our panel explained that there is a range of reasons people are drawn to this option. Some feel bogged down in their current work and are looking for a change of scene, some want to have the freedom to decide where and when they work, some are looking to gain experience in new fields, roles or industries, and some want to try out different workplaces to find the right environment for them.
At the same time, changing market conditions have meant there are now more contract opportunities available than ever. While uncertainty is often what holds people back from making the contracting leap, the truth is that the market is busier than it’s ever been due to a lack of international talent, a shortage of candidates to meet demand and pervasive business transformations driving a need for new and hard-to-find skills.
From small businesses at the cutting edge of their industries to government departments and large multinational organisations, the opportunities are endless, and many contract roles have the scope for extensions, should the contractor wish to do so. Of course, as our panel pointed out, contracting doesn’t suit everyone – there are pros and cons to this career path, and you have to decide what’s best for you. However, most people who make the move to contracting never want to go back to salaried employment!
Your Contracting Questions, Answered
Thinking about going out on your own but not sure where to start? Leaving a permanent role isn’t without risks and challenges, so it’s important to be aware of the nuances of contracting and avoid getting caught up in the “grass is always greener” mentality.
During the webinar, the panel answered some of the most common questions we get about contract work, including:
- What are the advantages of working as a contractor?
- Are there any risks to be aware of?
- What kind of insurance do contractors need?
- How do you handle your taxes as a contractor?
- How do you prepare your CV and get in the best position to be a first-time contractor?
- How do you choose a contractor recruitment agency and get the most out of their services?
- What do you do if something goes wrong (e.g. early termination)?
- How do you make the leap to contracting from a permanent role?
The biggest thing the panellists emphasised was the importance of being prepared and ensuring you set yourself up well before embarking on your contracting journey. This includes doing your research, building your network and reputation, having adequate financial reserves in place, and finding the right accounting and recruitment support.
Find Out More
This is just a glimpse of what our panellists covered in the webinar – we encourage you to view the full recording to learn more about what to consider when making contracting a full-time career, and how to set yourself up for success.
Beyond Recruitment is one of the largest contracting businesses in New Zealand, with hundreds of contractors on deployment at any one stage and a broad range of clients and projects. Whether you are new to contracting or have been a professional contractor for years, we are here to help.
If you would like to discuss any of the insights from this webinar or find out more about how we can support you in your contracting career, please don’t hesitate to reach out.