For National Stress Awareness Day, we’re exploring why contractors get stressed and ways to overcome it.
Contracting can be a great way to earn a good living and have more flexibility over your work schedule. However, it can also be a stressful job. Contractors often have to deal with tight deadlines, demanding clients, and the uncertainty of finding new work.
Here are five of the most common reasons contractors feel stressed, and some tips on how to combat them:
1. Lack of job security
One of the biggest stressors for contractors is the lack of job security. Unlike permanent employees, contractors don’t have a guaranteed paycheck at the end of each month. This can be a major source of anxiety, especially if you have financial commitments such as a mortgage or rent.
How to combat it:
- Build a strong network of contacts and relationships with potential clients. This will help you to find new work more easily when your current contract ends.
- Have a financial plan in place in case you have a period of unemployment. This could include saving up an emergency fund or having access to a line of credit.
2. Tight deadlines
Contractors often have to work under tight deadlines. This can be stressful, especially if you are also juggling other commitments such as family or social life. This leads the contractor to have limited time to themselves making them more prone to feel stressed.
How to combat it:
- Be realistic about how much work you can take on. Don’t agree to a contract unless you are confident that you can meet the deadline.
- Break down large projects into smaller tasks and set realistic deadlines for each one.
- Prioritize your tasks and focus on the most important ones first.
- Don’t be afraid to ask for help from your client or other contractors if you need it.
3. Demanding clients
Some clients can be very demanding, and they may expect you to work long hours or meet unrealistic deadlines. This can be extremely stressful, especially if you are not used to dealing with difficult people. The pressure can also pile on stress as clients have high expectations.
How to combat it:
- Set clear expectations with your client at the outset of the contract. This includes things like your working hours, your availability, and your rates.
- Be assertive and don’t be afraid to say no to unreasonable demands.
- If you are having problems with a client, try to resolve them directly with them. If that doesn’t work, you may need to speak to your manager or a trusted colleague.
4. Financial uncertainty
As a contractor, your income can fluctuate from month to month. This can be a major source of stress, especially if you have financial commitments such as paying rent or even just keeping afloat.
How to combat it:
- Create a budget and track your spending so that you can see where your money is going.
- Try to save money each month to build up an emergency fund.
- Consider getting income protection insurance to protect you from financial losses if you are unable to work.
5. Isolation
Contractors often experience a sense of isolation due to their independent work structure. Working remotely or on different job sites may contribute to feelings of detachment from a united team, potentially affecting their sense of belonging and connection. Therefore, without regular support or in-person teamwork, contractors can feel disconnected from the wider professional community adding to their loneliness.
How to combat it:
- Make an effort to stay connected with your colleagues and other contractors. This could involve attending networking events, joining online communities, or simply having regular catch-ups with your friends and family.
- Find activities that you enjoy doing outside of work. This could help you to relax and de-stress.
It is important to remember that stress is a normal part of life. However, if you are feeling overwhelmed by stress, it is important to take steps to manage it. There are many different things you can do to reduce stress, such as exercise, relaxation techniques, and spending time with loved ones. If you are struggling to cope with stress, it is important to seek professional help.
Additional tips for combating stress as a contractor
- Take breaks: It is important to take breaks throughout the day, even if it is just for a few minutes. Get up and move around, or step outside for some fresh air.
- Set boundaries: It is important to set boundaries between your work life and your personal life. Avoid checking work emails or messages outside of work hours.
- Delegate: If possible, delegate tasks to others. This will free up your time so that you can focus on the most important things.
- Take care of yourself: Make sure you are getting enough sleep, eating healthy foods, and exercising regularly. Taking care of your physical and mental health will help you to cope with stress better.
If you are feeling overwhelmed by stress, it is important to reach out for help. Talk to a trusted friend, family member, or colleague. You can also seek professional help from a therapist or counselor.
Why are Contractors Often Under Financial Stress?
The world of contracting is undoubtedly rewarding, but it’s not without its fair share of financial challenges. Contractors often experience financial stress because of managing budgets, obtaining quality materials, paying skilled workers, and covering overhead expenses. Yet, the excitement of bringing clients’ dreams to life often accompanies these challenges.
Contractors should improve their money management skills to handle financial pressures well. They should also create clear budgets and negotiate good deals with suppliers. Additionally, it is important for contractors to save money for unexpected costs. By embracing these financial responsibilities with enthusiasm, contractors can transform financial stress into stepping stones toward greater success in their projects.
Why Do Contractors Get Stressed About Regulations?
Contractors often find themselves stressed about dealing with regulations, but it’s not all doom and gloom. Construction projects have to follow various building codes, safety standards, and zoning rules, which can change frequently. Meeting these requirements can be stressful.
There is a worry about making accidental errors. These errors may result in penalties, delays, or legal problems. However, by taking the right approach, contractors can turn this potential stressor into an opportunity for a smoother project.
Contractors should learn local rules. They should also seek expert advice when needed. Additionally, they should create effective in-house procedures to ensure compliance during the project.
Dealing with regulations is important for project quality and legality. Although it may seem difficult, you can overcome it with enthusiasm and determination.
Does the Lack of Sick Pay Cause Stress for Contractors?
Contractors’ eligibility for sick pay can cause stress for many in the industry. Contractors don’t get sick pay or job security like permanent employees. They work on projects or are self-employed, so they don’t have the same benefits. This lack of sick pay safety nets can lead to financial stress when contractors face illness or injury.
While the answer to whether contractors get sick pay isn’t black and white, it’s a pressing concern. Some contractors may have the right to sick pay if their contract specifies it or if legal regulations govern it. In each situation, the details vary. Contractors need to discuss and alleviate concerns about potential financial instability when they are sick.
Why Contractors Sometimes Feel Client Pressure
The contractor-client relationship, while exciting, can bring its own set of pressures. Clients often have high hopes for their projects, which is entirely understandable given their investments.
Meeting these expectations while sticking to deadlines and budgets can be like walking a tightrope. The need for constant communication and quick responses to client inquiries can add to the stress. Sometimes, clients may not fully grasp the complexities of construction, leading to misunderstandings and extra pressure for contractors.
Contractors should communicate openly, manage expectations, and create project agreements that outline responsibilities and timelines. Dealing with client pressure is normal, but having a good relationship can make the job more enjoyable.
How Contractors Deal with the Skilled Labor Shortage
The shortage of skilled workers is a concern for contractors, but they’re not letting it get them down. Instead, they’re getting creative. Some use apprenticeship programs to train new talent. Others partner with trade schools and unions to find skilled workers.
Technology is also coming to the rescue, with digital tools making work more efficient. To attract and keep skilled laborers, offering competitive pay and benefits is the way to go.
Contractors are finding ways to keep their projects going despite the labor shortage, staying positive and finding solutions.
Conclusion
In summary, being a contractor is tough because of many stressful factors, as we have seen from different perspectives. Contractors face various pressures, including financial concerns, regulatory compliance, high client expectations, labor shortages, and the need for sick pay.
However, it’s essential to remember that within these challenges lie opportunities for growth and success. Contractors can turn stress into opportunities for a better career by being proactive, communicating openly, and having a positive attitude. The key to reducing stress in this field lies in preparation, professionalism, and a passion for turning obstacles into accomplishments.
