The Pros and Cons of Working Methods
Freelancers
Freelancers either work by the day, job or hour, meaning that they don't work in regular or frequent patterns. They normally work alone, such as Wedding photographers, in the work that they do and get paid for. You choose the work and projects you take on and the prices you set for the work you do, scheduling yourself in your work.
"A freelancer or freelance worker is a term commonly used for a person who is self-employed and is not necessarily committed to a particular employer long-term."
Pros
Flexibility- Being a freelancer, you can start later in the day and finish earlier. You are able to make your own schedule and place it around other events in your day to day life.
Prices- You are able to set your own prices but they have to be of a reasonable standard. This allows you to set the bar for the amount of work you shall be doing.
Variety- You get to work on various projects, giving you variety in the work place to keep you interested in the work you are doing and to provide something new.
Choice- You can choose what work you want to do and which you turn away, allowing you to decide the work you do and don't do depending on your schedule and your skills.
Cons
Lack of Structure- There can be a feeling of a lack of structure, meaning you could lack focus on your work and not put full effort into scheduling your own work.
Short of Money- If you cannot find any work for yourself there could be a shortage in money, making your life much harder.
Lack of Motivation- Being a freelancer, you have to be able to motivate yourself to work and gain money. If you cannot motivate yourself, it may not be a good choice to be a freelancer.
No pay for time off- You aren't able to get paid for having time off like contract workers, meaning you'll have to work more frequently to gather more time for this.
Contract
Contract workers work under a company for a specific job. They work on a regular schedule for an hourly rated pay. They are not considered a permanent member of the staff at the work place.
"A worker can have a contract stating he is an employee, but that alone does not define the worker's status. A company pays benefits such as insurance, pensions, vacations and sick days to employees, while independent contractors generally do not receive such benefits."
Pros
Impressions- You get a chance to impress the employer and this can lead to an offer to be brought on board full-time as a regular employee.
Experience- A wide range of companies search for contract workers and having these companies names on your resume can boost your employability rates.
Jobs- Many companies also look for contract workers that can start straight away even with little experience.
Cons
Exclusion- You can be excluded from the permanent staff and the workplace, lowering social skills and communication skills.
Not permanent- The work you are put into isn't permanent, meaning that it may be difficult for you to find another job straight afterwards or not being able to work at this company if you enjoy the work you are doing there.
No Benefits- You do not gain the benefits that the permanent workers do, such as safety, insurance and vacations.
Permanent
Permanent work means that you work under the company permanently and are paid directly by their employer. Similarly to contract, they work on a regular schedule with an hourly rated pay but have many benefits such as retirement plans.
"Permanent employees, regular employees or the directly employed work for an employer and are paid directly by that employer. In addition to their wages, they often receive benefits like subsidized health care, paid vacations, holidays, sick time, or contributions to a retirement plan."
Pros
Benefits- Working as a permanent employee you get holiday pay, health care, retirement plans and sick time.
Security- You have long term prospects and financial stability so it will encourage you to feel more motivated to perform better.
Relationships- Working permanently can allow you to build relationships with your co workers, increasing your skills in communication and boosting your confidence.
Cons
Reduced skill increase- Working the same job, you get into a routine. Working permanently can stop skills increasing and stop you from gathering a wider knowledge in your career path.
Lack of Flexibility- Working on a regular schedule, it is difficult to plan your life around your work. It makes it harder to do other things than work and can affect your life physically and emotionally and the relationships you have.
Pay- You can reach a limit in the amount of pay that you get, making it a normal amount of pay when you could be earning higher if you had been increasing your skills in other areas of work.
Out of permanent, freelancing and contract work they all seem to have plenty of pros and cons. Freelancing seems to have many cons differently to the other two, many being about lack of motivation and pay as you have to motivate yourself where the others are more about the pay and the work. Contract has the issues of no benefits which freelancing can also have as you are employing yourself whereas a permanent position provides you with the benefits you would need. Freelancing and contract also both have the issue of building relationships that permanent work doesn't have because you are working somewhat separately from everyone else whereas in a permanent position, you get to know the people around you.
Some pros for the freelancing is the wide range of variety in work, allowing you to increase your skills in your work. Contract work also provides you with this opportunity, both increasing your skills through the work you do where as permanent work doesn't do so because you do the same job every single day that you work. The pros of each are very different from each other, contract giving you better experience where freelancing allows you to schedule the work you do and permanent helps to build relationships and communication skills.
References
Anon, (2017). [online] Available at: https://www.linkedin.com/pulse/temporary-vs-permanent-pros-cons-lee-morris [Accessed 22 Mar. 2017].
Blackman, A. (2017). Freelance Work Versus a Salary Job: The Pros and Cons. [online] Business Envato Tuts+. Available at: https://business.tutsplus.com/tutorials/freelance-work-versus-a-salary-job-the-pros-and-cons--cms-25052 [Accessed 22 Mar. 2017].
freelancer, 1. (2017). Pros and cons of being a freelancer: 11 things freelancers experience. [online] Simplybusiness.co.uk. Available at: http://www.simplybusiness.co.uk/knowledge/articles/2016/06/pros-and-cons-of-being-a-freelancer/ [Accessed 22 Mar. 2017].
Kempel, J. (2017). The Pros and Cons of Contract Employment. [online] Libertystaffing.ca. Available at: http://www.libertystaffing.ca/blog/the-pros-and-cons-of-contract-employment [Accessed 22 Mar. 2017].
McQuerrey, L. and McQuerrey, L. (2017). Disadvantages of Permanent Employment | eHow. [online] eHow. Available at: http://www.ehow.com/info_12090169_disadvantages-permanent-employment.html [Accessed 22 Mar. 2017].
Work.chron.com. (2017). Advantages of Permanent Employment. [online] Available at: http://work.chron.com/advantages-permanent-employment-8921.html [Accessed 22 Mar. 2017].
Yoskovitz, B. (2017). Exposed: The Pros and Cons of Freelancing. [online] Instigatorblog.com. Available at: http://www.instigatorblog.com/exposed-the-pros-and-cons-of-freelancing/2007/10/31/ [Accessed 22 Mar. 2017].
