IR35 AND ENERGY INDUSTRY MANPOWER WORKING EFFICIENTLY WHY JOIN CCCONNECT PLATFORM?

ENERGY INDUSTRY WORKFORCE PARADIGM SHIFT

Businesses around the world are moving to more flexible employment methods in order to cut costs. The energy industry is continually being pressured with reducing margin from rising cost, efficiency is an important factor for energy companies to survive and constantly deliver positive cash flow.

According to a study by the Freelance Union, by 2020 half of the workforce will be made up of contractors – increasing from 35% of the workforce in 2014. This growth demonstrates that contracting is becoming increasingly popular among workers, and this trend will continue as the workforce shifts towards temporary staffing. Contractors can add value and address business challenges whether it be dealing with transition periods in a business, supporting rapid growth, a changing agenda, or a digital transformation.

WHY ENERGY COMPANIES NEED CONTRACTORS?

Flexibility

The primary reason to use a contractor rather than employ a full-time staff is the flexibility this gives your business. Contractors can be hired on a short-term basis, hence if a project is completed or a budget is suddenly halted or put on hold due to other priorities, then contractor can easily move on. This flexibility is also useful to manage workload peaks and troughs in seasonal work or a fluctuating workload like shutdown period.

Specialized skill sets

When you need a specific skill set for a short period of time, because it is a transitional period in your business or you require a quick turnaround and do not have enough staff in-house, contractors will be good for this. Many contractors have years of experience in a niche area, meaning you would not need to train them as the learning curve significantly reduced.

While contractor cost is significantly more per-hour than staff employees, contractors save money. Full-time employees may have benefits such as health insurance, sick leave payments, redundancy packages and retirement contribution costs which can quickly add up in terms of cost to the company meaning that while their salaries may be higher per hour, they may be cost efficient for the business overall.

WHY BE A CONTRACTOR?

Become your own boss

Contract work provides greater independence and, for many people, more flexibility and freedom than traditional employment.

Maintain a good work/life balance

Less commuting, fewer meetings, less office politics – and you can work the hours that suit you and your lifestyle best.

Earn more money

Being a contractor means you get paid for every hour of work you do, at the market rate. If your skills are in demand, your income could even be higher.

Test out a new field of expertise

Not sure if there's a market for your skills? You can dip a toe into a new industry without committing yourself to a full-time job. If it doesn't work out, you can cut your losses quickly and easily.

Start on a part-time basis/ side hustle

This can be appealing to young people just graduating from college, or older people who want to experiment with a second or even third career.

Test out a company

If you're not sure a new company is offering the right full-time employment opportunity for you, suggest first working for them as an independent contractor.

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