In recent years, we have seen a significant influx in the amount of contract and contract-to-hire roles across the country. In fact, a study conducted by Freelancing in America found that approximately 57 million Americans have switched to contracting and the number will exceed 90.1 million by 2028.
This shift toward contractors especially holds true when it comes to the tech industry. There is a smaller risk when hiring contractors to meet your high demands, due to the fact that they aren’t with you long term. Working with contractors will help your company meet goals faster and more efficiently.
Using contract talent has a plethora of benefits in tech, which is why we have seen this shift. We’ve compiled a few reasons why using contractors makes sense.
Optimizing the number of employees in your workforce is a difficult task. It is about balancing the number of staff to not surpass budget while also not becoming understaffed. Utilizing contractors grants your business the flexibility to stay away from these extremes.
Contractors will help you fill your needs immediately. In the tech industry, sometimes you will take on large assignments or unique projects that will require your company to quickly upscale. Contractors grant your company the unique opportunity to be flexible, which is crucial in the tech world.
If one of the factors that are holding you back from hiring new talent is your budget, working with a contractor can minimize upfront hiring expenses. Typically, companies that use contractors are not responsible for the benefits, including healthcare or retirement savings plans. In addition, contract hires usually only get paid for the specific set of hours you require them to work, rather than a fixed salary. Therefore, contractors can save your business expenses upfront.
Some companies tend to shy away from working with contractors because they think it will deter top talent, but that is far from the truth. In the tech industry, many highly skilled individuals choose to be contractors because of how quickly the in-demand skills can change.
In addition, many times the tech industry requires a very niche set of skills. These niche skills tend to only be required for a short amount of time as well. Using contractors is an easy solution to fill these skills gaps within your company for certain projects and business goals.
Hiring a new permanent team member is a big commitment. In the fast-paced world of tech, it can cost your business plenty of resources to find and acquire the right talent. Even then, you cannot be 100% certain that they will be the right fit. Minimize the usage of those resources by utilizing tech contractors.
A trial run will be beneficial to see if that person is a good fit. Additionally, it will help to see if the position is something you will need in the long term. With the recent surge in tech roles, how can you be sure you have the correct tech position at your company? Using contractors is a great way to test new positions you are considering acquiring for the long run.
In the current economy, many companies have started to rethink their hiring strategies, especially in the accelerated industry of tech. By using contractors, your company will have more flexibility, save expenses, have access to a larger spectrum of skills and test the waters with tech positions and talent.
Has your company considered jumping on the trend and leveraging contractors? Or do you need additional guidance on entering the world of using contractors? Our team of recruiting experts is readily available to discuss the opportunities that contractors bring to your company. Reach out to us today to learn more about how we have the solution for you.