It’s 2021, and we are still dealing with the ramifications of a global pandemic that the world hasn’t seen for over 100 years. For a lot of people, work has become unstable and they have lost their permanent jobs, and more people than ever are working remotely instead of in an office. For many, they have used the lockdowns and quarantines in the past year to change the way that they work.
Some people have switched from being a permanent fixture in a business office to consulting instead. There are many ways to work, and whether you choose to start consulting in an industry in which you are an expert or you choose to join in with permanent placements, there are pros and cons of both.
The biggest trend right now is the switch to consulting over permanent placements. With people working autonomously away from an office setting, they are better equipped to set their own hours and run their own workload.
Companies that have lost everything due to the pandemic have had to let people go, and they’re not hiring new people to come in and work for them. However, they are hiring consultants and freelancers to do the work on an outsourced basis. You’ll find that right now, more people are consulting than ever before.
Pros of Consulting
There are plenty of benefits to being a consultant and once you hear about them, you’ll see why it’s so popular. Let’s look:
Freedom is one of the biggest reasons that people turn to consulting. There is no clock to be on, no 40-hour week and there is the freedom to work for more than one employer, too. Consultants can be more flexible with the days and times that they are working. If you are working for yourself instead of a permanent placement employer, you are not limited to the way that you choose to work in the same way that you are with permanent work.
It’s up to you to find the work and eventually, word of mouth will swing the other way and your clients will recommend others to you. This will help you to build your consulting portfolio.
Your salary is negotiable compared to a permanent placement. You can raise your rates as you choose, and you don’t get to do that when you are hired into a full-time position. People will hire you for your expertise and your rate, and it’s up to you how you dictate that.
When you start consulting, you have to sort your own taxes out and you can then choose to have tax write-offs against your business, too.
Pros of Permanent Placements
An employee knows what they are paid and when, and there isn’t the same level of unpredictability as there is when you choose to consult. You know what each of your days is going to involve when you are an employee in permanent placement.
Being in a permanent placement comes with far more benefits than consulting, unless of course, your consulting firm has become extremely popular with a high wage rate.
You can be flexible in your choice of work when you are an employee, working for different companies in a range of capacities. You can move up the ranks and expand your skills within the job.