"Temps" are no longer low paid, entry level workers. This is not news to us here at Top Echelon Contracting, as we have been reporting on the executive temping trend for the past couple of years. But a recent article on FINS Technology, a career site from The Wall Street Journal, provides additional evidence.
According to the article, titled "Contract Workers Increase in Popularity," companies are more likely to take on "senior level temporary workers" in the wake of The Great Recession. While an increase in contracting is normal following a recession as companies are cautious about hiring, contract hiring at senior levels is higher this time around, the article states.
The article provides some high-profile examples, including the FDIC, which hired senior level contractors on three- and four-year assignments to deal with the bank failures. Currently, more than a third of its 9,000 workers are on contract.
Acer America Corp., has also turned to contractors to staff its legal and finance departments. They like the ability to expand their staff "at a moment's notice," Teigue Thomas, vice president and general counsel for the company told FINS.
The contractors enjoy these arrangements, too, because they like the freedom to take time off when needed and the challenge of working on different projects for different companies. These high-level contractors typically make between $90,000 and $200,000 per year on an hourly basis.
Of course, recruiters who place high-level contractors can also enjoy a steady, healthy income while these workers are on contract. So forget whatever image you may have of the traditional "temp" because today's contractor is looking for a challenging, lucurative assignment and may need you to find it!