The trend of hiring contractors and transitioning from a permanent employee to a contractor is continuing to rise. If you are new to tech consulting or you are returning from being a permanent employee, welcome! Right now, we are in a new era of remote work, companies onboarding contractors and engineers becoming contractors for the first time.
Many tech companies now have hybrid teams, which is a mix of permanent employees along with specialized consultants and this trend is projected to rise through 2021. One trend that we have seen over the last year is companies more willing to both keep and bring contractors onto their team. This is because they enjoy the benefits of a quicker hiring process, less risk and liability when hiring a contractor, and specific project commitment.
Let us clear up some frequently asked questions about contract work and how it operates.
What is the typical hiring process for a tech contract position?
The typical process starts by identifying our clients pain point: why does the client need an engineer and how long will it take to solve their problems? Once we know why our client needs a contractor, then we find out what skillsets are needed. Once a suitable candidate or candidates are identified, they are presented to the client and the client then decides if they are interested in conducting an interview. During the interview process, the client makes their final decision if the contractor matches their needs. If they are a fit, there is an offer extended to the engineer with a start date and terms on how long the project is set to last. The process is consultative and to the point.
How fast do clients move when hiring a contractor?
The process for hiring an engineering contractor is quick. This is because the client needs a specific skillset that other full-time engineers might not have. Without this skillset, the project cannot be done, thus the high urgency. One thing that sets Triple Crown apart from the competition is our network of engineers, which allows us to instantly connect available, vetted candidates with our clients. The general timeline can be anywhere from a few hours to a few weeks from presenting a candidate to extending an offer but on average, we see 1-2 phone screens before an offer is extended.
How long are the assignments ?
Contracts on average last anywhere from 6-12 months, however some of our clients like to keep contractors on for much longer. Everything will be dependent on the scope of the project; for example, some projects are set for 9 months but can get extended for an additional 3 months if a client receives a larger budget or gets assigned another project.
What are the perks for of being a contractor?
There are several perks of being a contractor but the most obvious one is the pay rate. On average, contractors are making 25% more than a regular employee. They are also paid on an hourly basis, which means if they are putting in 60 hours, they get paid the full 60 hours, unlike a salaried employee.
Another benefit is the flexibility with their work schedule. Not everyone enjoys the typical 9-5 Monday-Friday life. Some contractors prefer to get 40 hours of work done in 3-4 days rather than taking the entire week, especially when working remotely. Some like to work on the weekends and get the project done sooner. There are also contractors who like to take a little bit of personal time in between projects which can range from 2 weeks to 2 months before they hop back into their next contract. Overall, there are a lot of ways you can modify and balance your workload as a contractor.
If you are a software, hardware, or mechanical engineer interested in learning more about contract work or would like to find contract work, let’s connect!
