Changing and evolving according to economic environments means organizations are increasingly demanding more flexibility from their resources. A contractor gets the job on a contract basics taking on one contract at a time and when completed moving onto the next.Companies are using more contractors to perform specialized roles for varying workloads.Contractors may include: IT contractors, engineering contractors, security, banking etc. and these contracts are often served at the offices of the client and can also be taken from your own home office. A contractor usually refers to an “independent contractor” An independent contractor is one who contracts with someone else to provide specified services for a set price on terms and conditions outlined in the contract. Contractors often work through a franchise, which they themselves own, or may work through a company.
With a contractor, you agree on the contractor’s hourly rate if it fits with your project and budget. They typically focus on achieving contracted outcomes or results without needing to adhere to specific company procedures and attend company meetings. They are responsible for providing all the material, labor, equipment and services necessary for the construction of the project. The contractor hires more specialized subcontractors to perform portions or all of the construction work, it all depends on the size of a project. The responsibilities may include: monitoring building permits, securing, providing temporary utilities on site, Providing site surveying and engineering, monitoring schedules and cash flows, maintaining accurate records.
Moreover they run their own business and earn their livelihoods from own businesses instead of depending upon employers to earn a living. Contractors are sometimes called consultants, freelancers, self-employed, and even entrepreneurs or business owners. They work for a number of different clients, or projects that require special expertise. There can be many advantages to being self-employed:
- You are your own boss.
- Less dependency
- Get paid more than employees who are on direct payroll
- No meddling in office politics
So a good contractor understands that the success of the project determines his/her success because his/her involvement helps to reduce project cost. A good contractor can benefit an organization in a million ways and play a key role in deciding its progress.