This option is usually written into the contract agreement. Hiring contract executives also enables companies to add skilled workers for special projects or peak seasons without carrying the cost year-round. This is especially important to companies with a cyclical nature and start-up companies requiring seasoned veterans. Similarly, a merger or a new acquisition may spur a company to hire a contract executive with expertise and experience in a specific industry or discipline. The money saved by hiring executive contract workers is considerable.
Many executives prefer to be contract workers rather than full-time employees.
One reason is the length of the workday expected of today's executives. More likely, executives will come in early, stay late and spend at least part of their weekends on business matters. In addition, executives can no longer expect the job security offered by traditional full-time employment. Consolidations, mergers, layoffs and downsizing are all facts of life for executives, no matter how large or small the company. Executive contract employment arrangements have great appeal for a number of reasons, including financial freedom, family values, job satisfaction, and lifestyle issues.