Have you heard of an annualised contract? Could it be just what you need to see you through this current cost of living crisis and beyond?

We’ve been speaking to a lot of candidates recently who are looking for ways to earn money for Christmas. Some are even using their Christmas holiday to take on additional work to help fund the festivities. But a job doesn’t have to be just for Christmas.  We look at some options available to you –

What is an annualised contract?

Temp work is often seen as just that – temporary. But it doesn’t have to be that way. There is something called annualised contracts. They provide you with secure employment on a fixed salary. Around 820,000 employees currently work annual hours. That largest of this is in manufacturing with 167,000 on annualised contracts. These contracts stat the total number of contracted hours you are expected to work in a year. Let’s look at what this means –

• You will have core working hours that must be worked. These are typically a standard shift pattern.
• You may also have a number of flexible hours. These can be used for short-term increases in production, sickness cover, holidays etc.

How do holidays work?

Holiday entitlement for employees working on annualised contracts tends to the the same for colleagues working on a permanent basis. Sometimes an annualised contract will express your holiday entitlement in hours. In manufacturing, holiday may be rostered into the shift patterns and linked to plant shutdowns. Therefore, dates are known well in advance, allowing you to plan. However, in some cases, you are able to choose when to take your holiday. As long as you have agreement from your line manager. You are also able to swap shifts with colleagues. This gives you a lot of flexibility with the security of continued employment.

What are the benefits of an annualised contract?

• The same amount of salary is paid each month. This gives you peace of mind and security to enable you to budget effectively
• There is the possibility for upskilling. Many of our clients offer formal training to their teams. But even if this is not the case, you are likely to pick up new skills that will help you in your future career.
• There is an increase in pensionable pay.
• Better opportunities for working flexibly. This is especially relevant if you have commitments outside of work. Like caring for a relative, or being a parent

Next steps

See all of our latest jobs, or get in touch with your local CSP branch today to find out more.