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Following a new survey, it is reported that contractors are much happier than employees. In this blog post, Gorilla Accounting will be explaining the new findings from a survey published by McKinsey in relation to the contractor industry.

The findings in a recent survey show that contractors are happier than those who are in permanent work.

Independent work is now becoming more and more favoured in the UK. According to MGI, it estimates that the UK has over 14m independent workers which is around a quarter of the UK’s working-age population.

With this number consistently on the rise, it’s important to understand why more people are turning towards self-employment and in particular, contracting.

According to the report, those who do independent work by choice report greater satisfaction with their work lives more than those who do it out of necessity.

But what actually draws people to go it alone and work for themselves? We’ve collated a few results below.

Development

One factor that the survey showed was that contractors who are able to develop their own career and experience new opportunities are generally happier.

Following our extensive research into the contractor and freelancer market, it is shown that independent working could have more opportunity for development.

Flexibility

A major factor why a lot of people become self-employed, or get into contracting is the ability to become your own boss. As with anything, there are advantages and disadvantages of any working style but for most, the advantages heavily outweigh the disadvantages when working independently.

When becoming your own boss, it’s completely up to you what you do with your working time. When working for yourself you can manage your time as appropriately as you want to.

This is a big positive for some, and it is something that would be strongly considered if you were to begin working for yourself.

Ability to Express Yourself

Often in full time employment it’s easy to struggle with motivation. There may be a couple of things standing in the way of where you want to be in your working life.

When becoming self-employed, you would have the ability to express yourself more than if you were in full time employment, as you would not be under any restrictions as you may have been in full time employment.

Increased Income

It’s no secret that when you work for yourself you could earn an increased income. This is to be expected when you’re confident in your own skill set that you decide to go it alone.

This is something that attracts a lot of people to contracting and this is something that should certainly be considered if you’re thinking about becoming a contractor.

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