Thursday, September 16, 2010

Having Trouble Landing a Gig? Why Not Become a Contractor?

By : Michael Trust

In today's economy, many people who have very specific skill sets are having a hard time landing a regular gig. Some of these people have the mindset necessary to work for themselves and are becoming contractors, either on an on-going basis or for specific projects. Some have one client, some have many (having many of course spreads the risk; but, this could also dilute one's ability to successfully serve one or two very demanding (and potentially very profitable clients).

If you are interested in becoming a contractor, necessarily you will have to reformat your resume and introductory (or cover) letter. Some of the items to consider:

· Specific branding statement. What is your unique selling proposition and how well will it fit with what the potential employer is seeking? You might use this area to highlight your specific skill- for example, "resume writing" and you might expand on this with your unique selling proposition, for example "no templates, highly skilled at fleshing out challenges, opportunities, and results to position clients in the best possible light". If you use a particular methodology for your skill set, you might want to list it here as well. For example, "highly skilled data architect, with particular proficiency in object oriented programming using SQL".

· Much like your "Key Skills" section on your traditional resume, in this use, you would list out the specific expertise that you have, using specific phrases, skills, knowledge, and key words to immediately grab the reader's attention. No fluff here; just very specific key words that drill down to your specific expertise.

· If you are in the technology arena, you may want to drill down even more to particular platforms, software, hardware, problem-solving skills, project management, etc. Highlight those skills that are most in demand - for example, a cutting edge, small start-up organization may not use COBOL, but you have may have, in the past, used it extensively with larger, established organizations who ran mainframes. This has no value to the start-up, so you might want to leave it out and instead focus on the results of your past work, while highlighting your more cutting edge skills.

· It is also a good idea to have a summary section that encapsulates all of your hard and soft skills. Be cognizant of the type of role to which you're applying: unless you're being hired to run a redesign project, or to put a strategic plan in place (unlikely, but possible), these types of past projects probably won't lend any value to your summary because you are more than likely being hired to do a specific functional project. Highlight your background that speaks to that, rather than to experiences that may not bring anything to bear on the project or assignment at hand.

As the economy begins to improve, many organizations are still shy about bringing on employees as they often represent high, fixed costs (salary, benefits, unemployment, taxes, etc.) until the organization begins to really see positive cash flow and increased sales. As such, it can be very appealing for an organization to utilize the services of temporary help or contracted help to minimize these costs, in that the costs are fixed for a specific length of time, are often less than those of a regular employee (even with what may be a higher pay rate) and the organization retains more flexibility for staffing for specific needs. For you, the payback can be great: you earn cash flow, make more connections, you show potential employers that you kept engaged your field during a down time, you might learn new skills and ways of doing business, and in some cases, the assignment can lead to a regular position.

Temporary or contract assignment work is something that you may want to consider based upon your needs. If it is, you should seek out competent advice about how to structure your working relationships from a legal and tax point of view to be sure that both you and the employing organization can have a productive, hassle-free relationship relative to the terms of your engagement.

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