What is the difference between permanent hires and contract hires?
Permanent hires are employees who are hired to work for a company on a long-term basis, typically with an indefinite or open-ended contract. They typically receive benefits such as health insurance, paid time off, and retirement plans.
Contract hires, on the other hand, are typically hired to work for a specific period of time or to complete a specific project. They may be considered temporary employees, and typically do not receive the same benefits as permanent hires. They are brought in for specific projects or to fill a temporary need for the company.
Permanent Hires
Pros:
- Stability: Permanent hires provide a sense of stability and continuity to the organisation.
- Loyalty: Permanent hires are more likely to be invested in the long-term success of the company and may be more committed to their work.
- Benefits: Permanent hires are typically eligible for company benefits such as health insurance, paid time off, and retirement plans.
- Training: Permanent hires can be trained in-depth on the company’s culture, policies, and procedures, which can lead to more efficient and effective performance.
Cons:
- Cost: Permanent hires can be more expensive for the company in terms of salary and benefits.
- Inflexibility: Permanent hires may be difficult to terminate if their performance does not meet expectations.
- Limited Talent Pool: Permanent hires are typically sourced from a smaller pool of candidates, which can limit the diversity of the candidate pool.
Contract Hires
Pros:
- Cost-effective: Contract hires can be more cost-effective for the company, as they are typically paid on a project or hourly basis and may not be eligible for benefits.
- Flexibility: Contract hires can be brought in for specific projects or to fill a temporary need, which allows for more flexibility in staffing.
- Talent Pool: Contract hires can be sourced from a larger pool of candidates, which can increase the diversity of the candidate pool.
Cons:
- Limited commitment: Contract hires may not be as invested in the long-term success of the company and may not be as committed to their work.
- Limited Duration: Contract hires are typically hired for a specific period of time or to complete a specific project, which can limit the duration of the relationship..
Further reading: “Unravelling the Differences – Permanent Hires vs. Contract Hires”
Services: Permanent HR Recruitment and Contract HR Recruitment
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PEEQ HR Recruitment Agency
Permanent Hires
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HR Permanent Hires and HR Contract Hires
HR Permanent Hires and HR Contract Hires
About PEEQ HR Recruitment Agency
PEEQ is a specialist HR Recruitment Agency based in London. We partner with CEOs and business leaders to recruit high calibre HR professionals aligned to their purpose, who take ownership of employee wellbeing and enable our clients to achieve their business goals.
Why Choose PEEQ HR Recruitment Agency?
The average fill rate amongst HR Recruitment Agencies is 46%, but at PEEQ our average fill rate sits above 90%, So you are twice as likely to make a hire if you choose PEEQ.
This is due to two reasons:
Firstly, we only partner with our clients on an exclusive basis, so we ‘own the responsibility’
Secondly, we don’t employ recruiters. Instead, we work with trusted and proven freelance HR recruiters, to hire for our clients.
We give them the tools and infrastructure to be successful, and the rest is down to their magic and experience. Our Associates are not employed by us and only get paid for making a successful hire.
This makes them incredibly tenacious and committed to finding the best talent, which is why our fill rate sits above 90%, compared to the industry average of 46%.
More reasons to work with PEEQ
Psychometric insight reports
Obtain a unique insight into your candidates’ Cultural Fit, Strengths, Decision Making and Resilience through our accredited assessments.
Post-hire executive coaching
Set your hire up for success with a tailored coaching programme that helps them achieve their full potential personally and professionally.
Up to 6 Month Placement Guarantees
Confidently make your hire under our 2, 3 or 6 Month Placement Guarantee; safe in the knowledge that we’ll offer you a free replacement if they leave within our pre-agreed time period.
BeTalent Accredited Approach
We are proud to offer the BeTalent Accredited approach that enables us to deliver scientific candidate assessment, in accordance with the British Psychological Society standards.
This solution is for you if you want:
- An objective way to determine who is the best fit for your role
- A comprehensive understanding into your new hire before they start
- Peace of mind that you’ve made the right hiring decision.
Get in Touch with PEEQ HR Recruitment
We are here to help you. If you have any questions, queries or would like to discuss a potential hire, a job application, or require clarification on anything detailed on our website, then we would love to hear from you.
Please feel free to call, email or complete the form provided and we will assist you.
