Self-employed people tend to be more proactive, organized and used to making decisions and fulfilling various deadlines. These are all qualities that are highly valued by employers.
More and more professionals are daring to take the leap, to leave the certainty of an employed job and become self-employed or independent workers.
Unlike previous generations, young talents around the world today seem to be more inclined to work on their own. They prioritize the flexibility of managing their schedules, the freedom to choose the tasks and even the people they want to work with, to the detriment of some of the benefits of full-time employment in its more traditional form, such as a steady income at the end of the month or paid vacation.
Self-employment often leads to the professional becoming more proactive, more organized, or having to make decisions and learn to prioritize work in order to meet various deadlines. All of these qualities are highly valued by an employer.
In general, contractors are those self-employed individuals or “freelancers” that a company hires to work on a specific project.
For a company, using contractors has multiple benefits.
By hiring a contractor, the company will be able to select the most suitable person for the specific function it needs to cover.
It may happen, on occasion, that a company is looking for an employee to cover a specific need, which will not necessarily extend beyond a given period.
But what happens once the one-time need has been filled? In the event that the company had employed a full-time person, it will have a person on its payroll that it may not need.
Knowing that this can happen, companies that offer full time work, when taking a candidate for a position, put in the balance not only if the person is the best fit for the position. They also consider whether he/she will be able to adapt to another position in case the specific need for which he/she is hired ends.
All this is solved by hiring a person for the specific task or specific need at the moment, through the contractor modality.
Another advantage that companies that choose to hire an independent professional may find is in motivation. It is very common that an employee’s motivation tends to decrease over time, as a result of entering a sort of “comfort zone”.
However, in the case of less lasting hires, the possibility of the hired person showing levels of fatigue or discouragement tends to be reduced. In the same sense, should the person in question do so, or should he or she fail to perform the task for which he or she was hired satisfactorily, the hiring of a contractor is less rigid than that of a person hired directly by the company on a full-time basis.
Therefore, the cost of having chosen the wrong person for the task is lower and correcting the mistake will be less difficult.
With the advent of remote work, or telecommuting, companies have also opened up the range of possibilities for choosing contractors who reside in other parts of the world. In the case of companies whose income is in dollars or euros, the menu is even more attractive.
Many firms will be able to use, as an incentive, contracts in currencies stronger than that of the country in which the contractor resides, making the proposal look even more attractive.
This is what is happening with many independent professionals in countries such as Argentina, who, given the persistent devaluation of their currency and the high levels of inflation, are inclined to favor opportunities that mean an income in dollars.
For the company, the possibility of hiring talent from any country opens up a wide range of possibilities in terms of knowledge, experience, adaptability and cultural breadth of the applicants.
But the decision to work with contractors is often made difficult due to a lack of knowledge of compliance issues. Ping, as an international payment platform, is in charge of ensuring compliance with the regulations corresponding to each country to facilitate the hiring of talent throughout the world.