This short essay will provide a brief explanation of what a zero hour contract is and overlook the benefits to said zero hour contracts and why I am for their use in businesses and our economy

This short essay will provide a brief explanation of what a zero hour contract is and overlook the benefits to said zero hour contracts and why I am for their use in businesses and our economy.
Zero-hour contracts are defined by the Office of National Statistics as: “the people identified by the LFS as being on a “zero-hours contract” will be those in employment who are aware that their contract allows for them to be offered no hours. This might exclude some people who select another option, such as on-call working, although they have the opportunity to report a “zero-hours contract” as well.”
Zero-hour contracts are beneficial for employers who own a business as it allows them to adjust to everchanging circumstances. For example, on a Monday morning McDonalds may have 10 customers an hour and as a result will need fewer staff than on a Friday evening. The ability to alter the quantity of workers at any given time means that businesses can accommodate for changes much easier and avoid over or understaffing far easier. Being able to adjust easily to unforeseen events such as managing changes to demand, means that it is easier for businesses to maximise revenue and profit which can additionally benefit workers so long as the money trickles down through increased pay or bonuses. This can as a result lower business costs as a result and also increase efficiency and consumer satisfaction.
Whilst many claim that these contracts are unfair on employees it is in fact a great option for many employees as it offers them the opportunity to choose when they work and the duration in which they do so. This freedom means that they can therefore adjust to other commitments making it a great option for students or parents who may need part time work but have frequently changing schedules.
Zero-hour contracts are also a great choice for new businesses when faced with limited funding and access to finance. This is because it reduces red tape and allows them to find workers when they need them and does not force them to pay employees when they aren’t needed. This means that employers don’t have to pay employees when they aren’t actually being efficient or being put to good use which maximises their return on investment.
Zero-hour contracts may also lead to new opportunities for employees as it can allow them to progress further up within a business.