Chances are someone you work with right now is a professional “super-temp” and that’s by choice – they like the work, they enjoy the variety of roles and lifestyle and love the bucks. Because demand from companies for really high skilled Professionals, top Knowledge Workers and Executives in Procurement & Supply Chain are multiplying for longer term very strategic, project driven and leading edge contract requirements, the NEW world at work is taking on a very different complexion. Argentus understands how business is changing – There is a real need for a more flexible and nimble workforce. Let us help YOU “reThink” how YOU manage your career objectives in Procurement/Strategic Sourcing & Supply Chain as a Contingent Professional. Why? Because you are in more demand than ever before.
5 Reasons Why Contract/Contingent Work in Supply Chain Management is a viable permanent employment alternative
Similar to what happened in IT & Engineering twenty years ago, organizations are seeing contract and project-based professional staffing as a major key to their go-forward procurement – supply chain initiatives. Still entrenched in traditional values, the concept of contract-based work still carries an unfortunate twinge of transience to professionals used to the safety of permanent careers. Things have changed a lot in business – we all know the leaps that have happened in thirty years with technology which have resulted in dramatic things trending in employment. Certain job categories have died where others have boomed, longevity of employment has shortened significantly – no-one gets rewarded for staying at a company for 15 years anymore. And so on. And, Contract/Consulting/Contingent is becoming a way of life for professionals who five or so years ago would never have considered it. Professionals (in SCM for example) used to think and some still do that contract offers less stability than permanent positions. But demand for Contractors in Procurement/Supply Chain is very much on the rise, and is only getting higher. It’s really an interesting option now and easier than ever for skilled SCM professionals to make a fantastic career out of Contingent work. It’s old hat to think of contract as a stopgap on the way to full-time employment. So why are more and more Strategic Sourcing – Supply Chain – Procurement experts finally seriously considering or are actually making the leap to the contract lifestyle?
1. Getting the Opportunity to Work on a Variety of Top Projects in a Variety of Industries
This is a big plus. In today’s knowledge-based economy, you’re really doing yourself a disservice if you stay at one company for long periods. Contracts are a GREAT opportunity to do excellent strategic work in a variety of industries, for a variety of projects. It’s the best way to expose yourself to diverse industries, people, processes, systems, methodologies, organizational culture, skill sets, and management styles, and to learn from and network with as many people as possible. If you stay in one position too long, your skills might atrophy. But if you choose the contract lifestyle, you’re always gaining the latest and new skills and experiences. Many people report that their careers were at their most productive and instructive when they were switching between jobs often and picking up new ideas. Contract lets you get this diversity of work experience without the stigma of being a “jumpy” candidate who can’t stay in one place.
2. You Can Make Fantastic Money
This is a HUGE plus. Great contracts – Contingent Assignments can be career makers. The fact is, companies most often pay 20% to 40% more for skilled Procurement/Strategic Sourcing contractors than they do for their permanent counterparts. Why? Because the money comes from a different pot than permanent payroll and Contract work has always paid a premium and the company does not have to bear the additional expense of benefits and such so there is more room to put the money right into the individual’s pocket. And because the contract has an end-date, the company knows that their expenses will be limited if they do not wish to extend the contract (although our experience is that most contracts do get extended past their initial date). And, the contractor goes on to new contracts afterward and keep making great dollars.
Something else to consider: There is the possibility to Incorporate as a business or to become a Sole Proprietor. Incorporation and sole status has its obvious benefits to minimize taxes which is highly beneficial. That’s something one rarely benefits from in a permanent position. It makes a huge difference. A sole contributor without direct reports in Strategic Sourcing can immediately increase their compensation by over 25% by making the switch to Contract which is an exciting proposition and that is hard to match with pay equity in a company.
3. You Can Have a Better Work/Life Balance
Better work/life balance is becoming more valuable these days and it is something very attractive that contract work provides. Work/life balance is becoming one of the most important commodities in the 21st-century economy. While you’re expected to deliver results and impact the bottom line of your employer during each contract, the fact is that contract opportunities allow you to be more flexible in-between contracts, which allows you to take more control over your career and your life. You can take the extra money that a lucrative contract position provides and take time to travel or work on personal projects (perhaps a new business venture of your own) before taking on the next big 18-month contract. It means one can work hard and still avoid burning oneself out. You know – time to see the kids grow up, sail the Caribbean, travel through Australia…you get the drift. Nothing our fathers did.
4. Contract can lead to terrific permanent opportunity
Because we’re a daily interface between companies and candidates, we know that companies tend to undervalue candidates who appear to jump around. Companies don’t want to hire someone on a permanent basis if they’re just going to jump ship in a few months. But they love to hire contractors whom they have had an opportunity to try and test and who fit with their culture – who have diverse experience in multiple industries, because those contractors are more likely to implement positive changes and cost savings. And it still rings true that over 70% of positions never make it out onto the open market. Those plum roles always go to internals – that includes contracts, so that’s just another reason why contracting just makes great sense in a market where it’s hard to find the really amazing jobs.
5. Contract is a GROWING segment of the workforce
And doesn’t it just blow your mind to know that it’s estimated that by 2030 50% of the global workforce will be contingent. Seriously! We see it in the news every day. The world is becoming more mobile, more connected, more knowledge-based, and contract staffing is part of that trend. Don’t get us wrong, we have many great permanent positions in Supply Chain Management because it’s a highly desired skill set and we are as committed as ever to this sector of our vertical. But we have our ear to the ground, and what we’re hearing is that contract is the way of the future within procurement at least. This shouldn’t be scary – embrace it. It should be exciting. It’s more diverse, more lucrative, and leads to a more balanced life!
Whether you’re working or not working, we would really love to explore this with you further, give us a call today 416-364-9919. Stay tuned later in the week, for when we profile some of our most exciting contract opportunities we are working on right NOW.
Over & out