5 Reasons to Work as a Contractor
Contract and interim work is not permanent, but for many professionals that is exactly the appeal. From trying out different organisations to building a varied CV, working as a contractor or interim manager has real benefits. Here are five of them, plus a few things to weigh up before you make the move.
1. Try before you buy
As an interim executive, you get to see a company from the inside before committing to it. Even if there is no permanent role available now, doing excellent work while you are there and building good relationships can put you in a strong position if a suitable job comes up later.
2. A clear focus on the job
Interim managers are usually brought in to deliver a specific project or cover a particular need. Because your focus is on that task, you can often stay out of long-running office politics and concentrate on getting results. Many contractors find this one of the most satisfying parts of the work.
3. More experience for your CV
Working across several organisations, sectors or sites rather than staying in one role for many years can strengthen your CV, and build a strong list of professional references. You will have plenty of real examples to talk about in future interviews.
4. Flexibility
Contract work often needs flexibility, as some roles start at very short notice. It can also work in your favour, as you can plan breaks between contracts for holidays, study or family time. Agencies and clients will usually try to work around your availability, but they will expect you to be flexible in return when a project needs you.
You can connect with other interim staff via a professional networking organisation like /iim.org.uk/ to see how others navigate being in interim management.
5. Networking opportunities
Moving between organisations means meeting a lot of people in your field. Make the most of it by building genuine relationships. Many contractors find their next role through someone they worked with before, so a good reputation is one of your most valuable assets.
Things to weigh up
| Benefit | Trade-off |
|---|---|
| Variety and new challenges | Less job security between contracts |
| Often higher day rates | No paid holiday or sick pay in many setups |
| Control over when you work | You manage your own pension and savings |
| Focus on delivering results | Less long-term influence on the organisation |
Tax is another important consideration. If you work through your own limited company, the off-payroll working rules, known as IR35, may apply. For medium and large private sector clients, and for public sector clients, the client decides whether the rules apply to your contract. It is worth taking professional advice on how you set up and how each contract is assessed.
Frequently asked questions
What is the difference between a contractor and an interim manager?
The terms overlap. “Contractor” can describe anyone working on a fixed-term contract, often through their own company or an agency. “Interim manager” usually refers to an experienced senior professional brought in to lead a project, manage a change or fill a leadership gap for a set period.
How do I find contract work?
Specialist recruitment agencies, professional networks, previous employers and colleagues are the main sources. Keep your CV and online profile up to date, stay in touch with people you have worked with and make it known when your current contract is ending.
Where to go next
Running your own company? Read our beginner’s guide to statutory accounts.
