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Become a contractor, take control and make sure your talents don't go to waste

Paystream News

Kerry Hull

Monday 21st Aug, 2017

Do you feel that you get the chance to put the skills and qualifications you've worked on over the years to good use in your current job?

If you do, that's brilliant, but if your answer is no, it may be some comfort to learn that you're not alone. According to recent research carried out by the Institute for Public Policy Research (IPPR), some 5.1 million people feel that they are stuck in a job where they cannot use their talents as much as they would like.

But why is this the case? Why don't these millions of workers take control of their careers and work for themselves instead?

Why are workers' talents going to waste?

Sky News reported on the IPPR research, which showed that the number of people who feel that their skills are not fully utilised in their current job has risen from 3.9 million in 2006 to 5.1 million today.

There are concerns that if people do not find jobs that suit their skills, they will be disengaged with their role, feel underappreciated, not see the value in upskilling themselves and that the skills shortage that currently causes so any hiring problems will continue into the next generation.

In its report, the IPPR stated: "The UK economy is set to undergo significant change in the coming years. The impact of rapidly advancing technology, an ageing population and exiting the EU will leave our economy looking very different by 2030.

"Having an effectively functioning adult skills system will be crucial if we are to manage the impact of these trends, to shape them and to turn them to our advantage.

"However, there is serious cause for concern that our adult skills system is not fit for purpose today, let alone fit to face the challenges ahead."

But it is partly down to workers themselves to make sure they are taking charge of their careers and aren't letting their talents go to waste.

Why contracting could be the answer

Workers who want to make sure that they are working in a job they have trained for, have experience in and feel passionate about should give some serious thought to working on a contract basis rather than as a permanent employee.

Working as a limited company contractor allows you to take control of your career; you'll be able to decide what exactly it is that you do, where you work from, which hours you work and even how you pay yourself. You'll also get the power to set your own pay rates and work towards creating a work-life balance that suits you.

But most importantly, according to the IPPR, is making sure that your skills and talents are being used as much as possible. Whether you've trained for years in a particular field or just been on a one-day training course to pick up a new skill, that's time and money that you've invested in yourself and in making sure you can add value to the wider jobs market, so don't let that go to waste.

My PSC, PayStream's limited company service, offers support and advice to personal service company contractors with the administrative side of their limited company, which can be extremely valuable when you're new to contracting. It can also be a blessing if you want to take time out from your day-to-day role to pick up more new skills so that you can gain even more enjoyment from the work that you do. My PSC provides you with a safe pair of hands, providing you with the peace of mind that your limited company is being managed in a compliant and tax-efficient manner.

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