Is opportunity the biggest motivational factor for contractors?
It has been found that contractors, freelancers and self-employed are more motivated by the opportunities that come with owning their own business, rather than the necessity of it.
There is a false assumption that the majority of contractors are forced into self-employment by their previous employers. This is according to The Association of Independent Professionals and the Self-Employed (IPSE), who found that only 6% of contractors were influenced by their former employer and a half of them relied on that previous employer for most of the work that came into the business.
Networking and nurturing are amongst the most important skills required by a contractor. Tools such as LinkedIn are invaluable to contractors just starting out.
A government report suggested that over 75% of contractors choose to be their own boss because of motivational factors such as:
- Becoming Independent
- Job Satisfaction
Thus providing evidence for the above assumption to be false.
With Contractors being experts in their field, they are able to command higher rates of pay. The increased take-home pay is a major benefit for those looking to make the jump.
However, even though it has been proven that contractors are more motivated by opportunity and that the majority are happy working for themselves, it seems like Contractors still need extra support from the government.
When becoming self-employed, less job security is always a risk. More support is needed from the government in order to motivate contractors to carry on and ultimately make their venture a success. Contractors are not offered the same benefits as those that could be rewarded to employees, an issue that the government should address. However, some benefits such as Relevant Life Policies which you wouldn’t expect to be available are. For more information, see our page on Relevant Life Policies.
Simon McVicker, director of policy and external affairs at IPSE suggests that “As the number of self-employed workers continues to grow, it’s essential we don’t cast this entire group as vulnerable and instead focus on ways to help the self-employed to thrive”.