Following the pandemic, the global work environment greatly changed.
Many people resigned from work and many others chose to permanently work from home.
As job opportunities opened due to the talent vacuum created by the great resignation, some people started taking up multiple full time jobs, working for more than one employer and thus doubling or tripling their salaries.
Over-employment is the new trend that has begun where employees take up more than one full time job. This new trend has financial benefits but also come with challenges including the stress from feeling you are doing something wrong and the risk of being fired from your job.
This opens the opportunity to become an independent contractor, which is similar in practice but contractually different.
An independent contractor is not an employee of any company. Instead they work for themselves, taking on projects from different companies.
As an independent contractor, you can legally work for multiple companies without having to hide that you are doing multiple jobs.
Your wages will likely be project based although hourly based wages are possible too.
Here are the steps to take to go from being an employee to an independent contractor.
Speak to each of your employers about changing your work arrangement from an employee to an independent contractor.
Explain to them that your work and pay will remain the same for now but since you are working from home, you will feel more comfortable with an independent contractor work arrangement.
Explain to them that the quality of your work will not be affected.
When taking on a new job, explain that you will work as an independent contractor and not an employee.
If an employer agrees to this arrangement, you can continue with the work as an independent contractor. If not, you can decide whether you want to continue working for them as an employee or resign from the job. Your decision will depend on many factors including whether your other jobs are sufficient to pay for your lifestyle and how successful you have been in getting new jobs / projects.
Take your time reaching a decision as you continue on the path to become an independent contractor and finding your path.
As the work environment continues to evolve, more employers are likely to become used to this new work arrangement.
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