| It is quite rare to find contract employment in | | | | schemes for their permanent employees. |
| other industries like the bio-tech and | | | | Permanent employees are also more likely to |
| pharmaceutical industry. Perhaps one of the most | | | | have higher pension saving levels. The state of |
| attractive things about contract positions is the | | | | the economy also plays a vital role in the decision |
| freedom and flexibility that they provide to an | | | | to take contract employment or a permanent |
| individual. This means that contract workers are | | | | one. This is because during times of economic |
| not tied down to any particular role or | | | | recession, some firms may opt to downsize their |
| organization for a long period of time. They have | | | | workforce in order to reduce costs. They may |
| the opportunities to explore new employment | | | | do this by outsourcing their employment |
| prospects and experiences. | | | | overseas. This means that many permanent |
| Though contract employment provides a good | | | | workers may find themselves redundant without |
| degree of freedom, it does not guarantee job | | | | any prospects for immediate work opportunities. |
| security. With a permanent position, an individual | | | | It is at times like this that contract positions are |
| can enjoy the benefits of job security and | | | | most beneficial. |
| stability. There is evidence that job security can | | | | It should also be stated that contract workers |
| enhance the work performance of individuals. It | | | | now have the same rights as permanent workers |
| can also help promote higher levels of job | | | | in any given organization. This is mainly due to the |
| satisfaction. Furthermore, permanent employees | | | | employment regulations on contract employment. |
| also have a higher ladder of earning potential than | | | | These regulations have been formulated to |
| contract workers. They also enjoy more | | | | safeguard the rights and interests of contract |
| employment benefits and bonuses like health | | | | workers. Conclusively, for those just starting out |
| insurance, pay rises, holidays, company cars and | | | | their careers, contract employment is a good idea |
| so on. | | | | because it gives them opportunity to explore a |
| In terms of pensions and pension schemes, | | | | range of opportunities and to find out the best |
| permanent employees also have the edge. This is | | | | path. |
| because most companies will only have pension | | | | |