Exploring the Advantages and Disadvantages of Employment Opportunities
The number of nursing jobs in the United States is forecast to grow by 15% between 2016 and 2026 – faster than the average for all other occupations. To put this into perspective, the Federal government expects more than 200,000 new registered nurse positions to be created every year through 2026.
Almost 60% of nursing jobs are in general medical or surgical hospitals with an average registered nurse salary of $71,000, according to the Bureau of Labor Statistics. Other major employers of nurses include physician offices, colleges and schools, outpatient care centers and other health practitioners.
If you are a nurse, or considering entering the profession, a key question for you should be whether to become an employee or a contract nurse. This article will help you make your decision.
Contract Nursing Jobs – The Advantages
As a contractor, you are hired to do a specific job at a specified rate of pay. You’ll be on a limited time contract. Some of the advantages of contract employment are:
· The potential to earn higher-than-average wages
Employers don’t have to pay benefits, vacation pay or unemployment insurance. This is usually reflected in higher wages. If cash in your pocket is more important to you than employer benefits, a contract position could be better for you.
· You develop a deeper CV
Working for a specified time with a single employer – usually from a few weeks to 12 months – you’ll be able to take advantage of varied work and different workplaces to build up your CV, develop your skills and increase your value.
· You’ll have natural career breaks
Many contract nurses move seamlessly from one contract to the next. However, the end of a contract also offers a natural career break. If you wish, you are able to take a few weeks of vacation in between contracts that may not be available to you as a permanent employee.
· The opportunity to work where you want
There are contract positions for nurses across the United States. If you are a travel bug, you could work ‘travel nurse’ roles and visit different states and cities, meeting new people and gaining more skills while you travel.
Contract Nursing Jobs – The Disadvantages
Of course, there are disadvantages to working as a contractor instead of as an employee. The main disadvantages are:
· No employer benefits
As a contractor, you will forego benefits such as health insurance, paid time off, parental leave, and 401(k) contributions. Much of the higher wages you could receive as a contract employee may be swallowed up by paying for these benefits yourself.
· Less meaningful working relationships
It’s hard to build a good working relationship with short-term colleagues, and contractors often feel separate to the rest of the organization – you may feel disconnected, especially if management don’t include contractors in ‘confidential’ team meetings.
· You must plan your work more diligently
As you approach the end of one contract, you must find a new contract role. If you don’t like searching for jobs or marketing yourself, this can be problematic.
Permanent Employee Positions – The Advantages
As a permanent employee, you will be employed for a minimum number of weekly bours, and your employer will tell you when you must work these. The advantages of permanent employment include:
· You get in-employment benefits
Your employer will be responsible for providing benefits such as health insurance, professional development, and paid time off.
· Job security
You won’t need to be continually mindful of securing your next contract, and will benefit from regular hours and a regular paycheck.
· Good working relationships
As a permanent employee, you’ll get to know your work colleagues thoroughly and build working relationships that will help you to develop a network in a way that is much more difficult for contract staff. Consequently, you may get a better sense of being valued at work.
Permanent Employee Positions – The Disadvantages
There are also disadvantages to life as a permanent employee. These include:
· Being tied to an employer
If you enjoy traveling, working at different organizations and meeting new people, permanent employment is unlikely to offer this may not be the right fit. You’ll be in a stable job, but you will also be in the same environment with the same people every day – this could hamper your personal and professional experience.
· You may not develop your skills
As a permanent employee, it is often the case that your employer decides what skills they wish you to develop – if any. Thus, you may not get the opportunity to improve your skill set, or not in the direction you wish to go.
· A lack of career advancement
If your skill sets do not develop at your current employer’s set pace, you may not have the opportunity to advance in your career in this organization. A contract nurse develops their skills in the direction and pace that suits them, and this leads to greater potential in the jobs market – this is a benefit that may not be available to you as a permanent employee.
In Summary
The choice of career path is yours to make. Understanding the advantages and disadvantages of contract and permanent employment is critical to making the choice that will match your life and career goals.
If you decide that the higher wages, ability to travel, and opportunity to create a personalized work-life balance is for you, get in touch with Loyal Source today. As specialists in the field, we help our contract nurses manage their careers more effectively by assisting with identifying new job opportunities, managing payroll, and being your go-to resource for all your employment needs.