Trends in Marketing: The Benefits of Contract Work
More than 15 years ago, “Amanda” was working as an executive editor at a health and wellness publishing company. She had grown the position in the four years she was there and enjoyed the work and the people.
But there was one problem: no growth opportunity. Her boss — the publisher — was not planning to leave any time soon and any other position would have been a lateral move. So, Amanda made a bold decision.
She went out on her own as a contractor.
Amanda worked with several companies and industries over those 15 years. She utilized her wide range of skills, including communications, writing, editing, content marketing, and social media. Her clients enjoyed her depth and breadth of experience was they used her expertise to build a marketing team, fill staffing gaps, or oversee specific projects.
It was a win-win for everyone involved.
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Little did Amanda know; she was a bit ahead of her time. According to NPR, contract workers made up just 10% of the labor force in 2005. Today, Forbes’ reports 35% of the workforce are contractors or freelancers.
In fact, the U.S. Government Accountability Office (GAO) finds that 33% of companies use contractors, while LinkedIn has seen growth in contract job listings far exceed full-time postings. From May-November 2021 to May-November 2022, contract roles grew by 26%, as compared to just 6% growth for full-time positions.
There are several reasons for this trend. One is, of course, the aftermath of the pandemic and its resultant layoffs. Another is the widespread layoffs in the tech sector. And of course, there is uncertainty of aa potential recession.
The result is less hiring and less backfilling. As CNBC reports, as of November 2022, 52% of companies are “slowing” hiring, while 22% have put a freeze on hiring entirely. Additionally, many companies are not replacing people who either retire or quit.
Unfortunately, this can result in overworked and overstressed current staff. A 2022 study found 22% of workers felt they had too much work to do, while 30% indicated they had heavy workloads.
Overcome Team Shortages with Contractors
As the data indicates, many companies are addressing understaffing with contractors.
Contractors are the ideal way to provide immediate support with a short-term solution rather than a long-term investment. Recruiting firms such as McKinley Marketing Partners work with companies to identify projects that need to be turned over to a marketing or creative services expert.
McKinley Marketing Partners identifies highly qualified, experienced, and fully vetted marketing and communications professionals to help fill the gaps in staffing for long-term or short-term contracts, as well as project-based work. This not only relieves the pressure and stress on the existing team, but it often can do so at a fraction of the cost of a full-time hire.
Contract Work is the Future
Given the benefits, it’s a bit surprising that it has taken so long for contract work to become a commonplace option for companies and talent alike. Contractors offer flexibility for everyone involved, ease understaffing and overworked concerns, and provide the experience and expertise companies need, while also affording a creative and exciting outlet for talent.
It really is a win-win that is here to stay.
