Contract Employment
Contract employment is an ideal way to allow companies to broaden their existing workforce while eliminating the hassles associated with recruitment, payroll, administration and so forth.
Many businesses at one point or another must rely on the use of Independent Contractors to meet their varying staffing needs. Whether to fill a temporary role for a special project, increase headcount, act as a stand-in, compensate for peak load or contribute demanding technical skills and expertise, Independent Contractors allow companies to locate skilled talent quickly-and on an as-needed basis. There are many benefits to using contractors versus traditional employees such as savings in labor costs, less liability, flexibility in the length of the working relationship and reduced overhead expenses.
What is an independent contractor (IC)? An Independent Contractor is someone who runs his or her own business and is not legally considered an employee of the company. IC's earn their livelihoods from their own businesses instead of depending upon employers. Unlike a member of staff who works for a single employer, independent contractors typically work for a number of different clients in a short period of time, overseeing particular jobs or assignments that require exceptional expertise. This type of employment arrangement is widespread in highly specialized or technical fields, such as engineering, computer programming, manufacturing, and accounting.
There are many advantages to being an IC:
- You are essentially your own boss
- You can potentially earn more than conventional employees
- No federal or provincial tax is withheld from your pay
- You control how you carry out tasks/duties and the outcome
Accepting contract work is a worthwhile option that some job searchers look at not only when they are having difficulty finding permanent employment but because of the lucrative nature of contract roles. Typically, contract work can run anywhere from 1 month to 12 months in length and occasionally, for extended periods of time.
Whether you're a self-employed professional seeking work as an Independent Contractor or a Company looking to hire, contact us for additional information and we will be pleased to assist you with all your contract employment needs.
