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Global Work Glossary

Lost in a maze of global employment jargon? Find your way out with our handy collection of work and HR terminology

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# A B C D E F G H I J L M N O P R S T U V W X Y Z

Fixed-term contract

What is fixed-term contract?

A fixed term contract outlines a work arrangement with a specific start and end date. Typically used for temporary or project-based work, this is unlike a permanent contract which will continue indefinitely. With fixed term contracts, renewal needs to be discussed at the end of the defined period.

The main advantage of fixed-term contracts is the clarity they provide for both parties. Employers can fill a temporary staffing need without having to hire someone permanently while contractors can plan their workflow around the dates outlined.

It’s important that fixed term contracts are managed correctly. Employers should clearly communicate the temporary nature of the position including the specific duration. Then they should give contractors the training and resources they need to integrate quickly and make the most out of their short time with the company. They will also need to stick to labor laws which may vary from country to country.

A global HR platform such as Multiplier makes it easy to hire and manage contractors on a fixed term basis. Our experts will ensure seamless onboarding and compliance across the globe.

Ready to take the leap? Choose Multiplier as your EOR partner

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