One of the biggest disrupters in the IT industry is project-based employment. Truthfully, this model benefits both employees and employers alike. However, by disrupting the traditional “9-5” work model, it generated many cons. For business owners and hiring managers considering the pros and cons of project-based employment, here’s what you need to know.
What is project-based employment?
Project-based employment is when a company hires a talented and qualified individual for a specific short-term project that needs to be completed within the company. These projects have clear milestones and deliverables that can be met by an employee, but by their nature, they are not needed long term.
Rather than training current employees to accomplish these goals, business managers are turning to freelancers to accomplish this type of work. Furthermore, more and more IT technicians are turning to contract labor as their primary means of income, making this type of work more common in the workforce.
Pros of Project-Based Employment
There are many pros to project-based employment for both employers and employees alike. Here’s what you need to know if you’re considering project-based employment.
As an employee, project-based freelance work is advantageous for several reasons. Specifically, you can save money on benefits, make more money per project, and have more control over your career path. With contract work, you’re not tied down to a specific company. You can choose projects that compliment your skill set and stick with reputable companies without having to worry about remaining stationary for years to come.
Furthermore, by working with a recruiting agency like TechBridge, you can find positions with businesses that work exclusively with staffing agencies. This could lead to opportunities you otherwise wouldn’t know about and potentially land you a full-time position with a company you love working for.
As an employer, there are also many pros to hiring for an individual project. Specifically, you can:
- Save money throughout the hiring process and benefits packages.
- Enjoy the benefit of fresh perspective from outside talent vs. your current employees.
- Boost productivity by bringing in new talent with a variety of skills
- Try out a new candidate before bringing them on full-time. Observe their abilities during a one-time project, and potentially bring them aboard full time if they’re a good fit
- Hire someone with a specific skill set needed on a short-term basis rather than paying one of your current staff members to learn a new ability
Each project is different, and project-based employment is a great way to meet specific needs without long-term change or commitment. However, there are also some downsides you should be aware of.
Cons of Project-Based Employment
The downsides of project-based employment aren’t necessarily greater than the pros but are worth mentioning. Here’s what you should be prepared for when choosing the project-based work model.
As a freelancer, you accept the uncertainty of employment. Once a project is completed, you’ll need to begin looking for new work, of which there is no guarantee. Project-based employment eliminates the security of a full-time job, as well as the benefits that come with it. Working with a recruiter is a great way to minimize these risks as they can continually provide you with leads and interviews to keep you busy throughout the year.
The cons for employers are primarily related to the search for workers. Talented IT technicians are in high demand, making it difficult to find a qualified individual who fits well within your company. This can easily cause delays in the completion of a project which you wouldn’t deal with if one of your current employees could handle the need.
Furthermore, the constant rotation of freelancers can have a large impact on work culture. For longer projects (six months to a year), the contract laborer can build relationships with the full-time staff. Regularly having individuals come through and leave can be difficult on the workforce, discouraging them and limiting productivity.
Is it worth it?
In short, yes and no. when done correctly, project-based employment is an incredibly valuable method for a business. Through it, you can quickly and efficiently complete a project without the long-term commitment of cost.
However, when this work model isn’t optimized, it can lead to excess costs, project delays, and complications throughout the hiring process. Consider working with an IT staffing agency to optimize the hiring process and fill short-term positions quickly, without dealing with the headache.
How Can Techbridge Help?
At TechBridge, our goal is to bridge the gap between business and employee, matching qualified workers with the companies who need them. If you have any further questions or you’re interested in our staffing and recruiting process, contact us today!