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The Frightening Fact New Grads Should Know Before Entering The Workforce

The Frightening Fact New Grads Should Know Before Entering The Workforce

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If you’ve just recently graduated from high school or college, there’s a frightening fact that you should be aware of before entering the workforce.

Related: What Are The Hardest Challenges Facing College Graduates?

It’s called the contract culture, and it’s taking America by storm!

If you’re not familiar with what a contract job is, it’s a job that typically has a defined start and end date, and by ‘end date,’ I mean the date you will be laid off and lose your job.

42% of employers intend to hire temporary or contract workers as part of their 2014 staffing strategy — a 14% increase over the past five years. [Career Builder]

Contract jobs are detrimental because they typically have no benefits whatsoever. No health insurance, no sick days, no vacation, no paid time off, nothing. Nada. Just a paycheck.

This new contract culture is a far cry from the way things used to be.

Contract jobs rose in popularity in the last 15 years when employers realized they could save a substantial amount of money on payroll, employment taxes, and benefits by hiring contractors.

The initial allure to the contractor was a guaranteed salaried job after ‘proving themselves’ worthy during the contract period as well as less dedication. Instead of staying after hours like salaried employees have to do on occasion, the contractor got to leave as soon as their eight hours were up. The government even had very well-defined laws in place that protected contractors by ensuring that they were paid for every second beyond the contracted hourly amount.

I just told you the story of the past, so now how about I tell you the story of the present.

Presently, the contract environment is very different. It’s no longer just construction workers, telemarketers, customer service reps, and bill collectors who are being forced into contract positions. It’s spread into all sectors of the workforce including business and marketing and I.T. related fields.

Many companies also abuse the law which protects contractors and requires that businesses pay per hour worked, including overtime. I myself have been a victim of this abuse.

Despite all of this bad news, the good news about contracting is that contract jobs are often times easier to secure since most companies aren’t planning on a long-term commitment. This can be ideal for a recent graduate looking to quickly secure employment, gain experience and earn a paycheck.

If you’re looking to get a job as a contractor, your best bet is to reach out to staffing agencies. You can perform various Google searches to find staffing agencies locally as well as Internationally. Once your resume’ is on file, they’ll work to find you a position once one becomes available in your field and in your area.

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Michael Price

About the author

Michael Price is the author of What Next? The Millennial’s Guide to Surviving and Thriving in the Real World, endorsed by Barbara Corcoran of ABC’s Shark Tank. He is also the founder of Conquer Career Course, where he teaches students how to increase their salary, build a career with longevity and become unemployment-proof. View the trailer below:

 

 


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Michael Price Michael Price is an entrepreneur, author and Millennial. His expert commentary on education, careers, entrepreneurship and personal finance has been featured in top publications including but not limited to: The Huffington Post, Fox Business, Business Insider, LifeHack and Forbes.