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Contract Jobs Are Here To Stay

Politics aside, 2017 has been a good year for the economy. Some might say it may be getting a bit overheated, but better that than dead cold. Jobs are up across most industries, and unemployment has declined. Black Friday set all sorts of records for spending, a sign that consumer confidence is high. Most importantly, there is a general sentiment that 2018 will also be a strong year. That will make everyone’s New Year happier. The light at the end of the tunnel is shining on us, at least momentarily. However, this is the “new economy” and just like with anything new, there will be growing pains.

Ryan mentioned in a past blogpost that contract jobs have become an integral part of the economy. It started out with companies needing to be flexible in their labor costs during difficult times. Now it has become the norm.  Companies continue to search for the right balance between permanent employees and contract workers, but even with an improving economy, Execuforce expects businesses to rely on contract workers for a higher percentage of their workforce than in the past.

There is a struggle for companies and contract workers to adjust to this new normal, as discussed in a recent article in the Wall Street Journal. It is clear that contract workers often feel undervalued at companies. Not only do they feel that they have no chance in landing a permanent position, they often feel looked down upon in their work environments. The feeling that contract workers feel undervalued in their workplace is definitely something that management can control. It behooves them to do so because a happy worker is a more effective worker whether they are a permanent or contract employee.

Contract work is no longer a trend, it is a reality. For those looking for employment, contract work can be a good opportunity to not only make a good wage, but to level up your skillset and remain relevant. It is also important to be proactive and continue to skill up. Never become stagnant. MBAs are still important, and in our industry CPAs will never go hungry. Always research what is new. For example, ASC 606, a new software recognition standard, is hot right now.

For companies who are relying on contract workers to be flexible and accomplish many of their mission critical initiatives, our advice is not to take them for granted. In an improving economy, they will have choices of where they want to go. The competition for top talent can be for the permanent or contract variety.

Execuforce wishes everyone Happy Holidays and a great 2018!

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