Pros
. Staff are nice and the company has lots of activities such as baked cookies, pan cakes, costumes, etc.
. The interview process is fast. Contractors could be hired without even an on-site interview.
. A small company, so efficient face-to-face communication.
. On the high-level, the company seems to know the direction of products they need to move forward.
Cons
Company changes technical direction too fast. For example, candidates applying for full-time position are required to have up-to-date framework skills, but a few days later, this new direction can be completely abandoned.
You are expected to do implementation and deliver productivity starting on day-1 even though there is no clearly analyzed and documented design specification.
Even when the design specification is completed on paper and waited for approval before the prototype and/or full-scale implementation, the company can still abandon the new direction that the position is opened for.
The consequence of this type of management is that, if you were hired as a full-timer, you might end up doing the work/skills completely un-related with the position that you originally applied for. As a contractor, you would be just let go.