Are you fresh out of university and looking to put your new software skills to the test but not sure on the best employment status for you? There are subtle differences between full-time employment, freelance work, and flexible contracts, and below you will find explanations of these and what the differences are.
Working As A Full-Time Employee
Full-time employment is the traditional employment status that many people aspire to, and there are many significant benefits from being permanently employed full-time. You can have financial security with a full-time job and enjoy a stable income every month. You will gain access to all the benefits that are offered to employees which can include health care, pension, bonuses, and team building events and activities.
Working from the same location also aids communication within the company with your colleagues, and you can benefit from having a mentor within the company to allow you to grow and increase your skills. You can find that you will make plenty of new friends in a full-time job and your social life may also benefit because of this giving you a new lease of life.
Working On A Flexible Contract
There are companies that have workers on flexible contracts such as businesses that hire software developers with Contract Devs. This is becoming increasingly popular especially in this digital age within which we live.
These positions can benefit both the workers, as well as the company. Flexible working contracts allow workers to work the hours which suit them best and can also mean that they can work remotely, although they may need to attend the office when requested. These contracts increase the well-being of staff and help to reduce not only stress levels but also the cost of running a business. The office can be downsized, lowering costs, and the workers do not have to commute every day, also reducing the costs to get to work and back. Studies have shown that workers on these types of contracts are also less likely to go absent, and productivity levels can also be increased.
With a flexible contract, you are expected to work your quota of hours each week, but the hours that you work can be at your discretion, giving you a lot of freedom, as long as the work gets done.
Working As A Freelancer
Working as a freelancer can also be very liberating and is similar to a flexible contract, with the significant difference being that you do not get paid a wage and only earn money through completing projects. It can be not easy to start as a freelancer as we all need money to live, and if you do not have a source for work, you may also spend a lot of time looking for freelance work.
A significant benefit of working as a freelancer is that when you do have a pipeline of work, you can pick and choose the work that you do, and when you do it. You can work fully remote and even do your work sitting by the pool in a warm climate if you desire. However, there is no financial stability, usually with this type of work as the money that you earn can change drastically every month.