Hiring independant contractors vs Full Time Employees
Intuit predicts that 40% of US
workforce will be part time
workers or full time freelancers
You can get talented freelancers
to help grow your business,
without adding full time staff.
Check our article on becoming a freelancer.
At Marc Waring Ventures (the parent company of
fitsmallbusiness.com) we work exclusively with independent
contractors who help us with everything from writing
articles to accounting.
My Experience Hiring Independent
Contractors and Employees
The Advantages Of Working With Independent
Contractors vs. Employees
•You save on Wages.
•You save on Taxes.
•You save on Insurance.
•You save on Benefits.
•It’s harder to get sued.
You can also be very specific
about the skill you are hiring
for, like writing, accounting,
You Have Much More
Because it allows you to give out
work when you have it, and
reduce the amount of work you
are paying for short periods.
Good independent contractors
are easier to manage.
Because you are really working
with another business, so they
are not expecting you to manage
them. However you can give
guidance or set priorities and
The Advantages Of Working With Full Time
Employees vs. Independent Cotractors
For some types of businesses,
like retail stores and restaurants,
working with freelancers is not
an option. However, this is not
the only reason you might want
to hire full time employees.
In a previous position I ran sales
and business development and
decided to get full time
employees for three reasons:
1) We view the projects and the
firm’s knowledge of how to
execute them, as a competitive
advantage for the company.
2) The information we were
deailing with was confidential,
and we did not want it leaked
outside the firm.
3) We wanted to bring up talent
within the organization who could
take on management and other
high level roles.
Full time employees are also better able to jump in and take
care of variety of task as they arise. Independent
contractors are generally hired for very well defined tasks.
Finally, while not impossible with independent contractors,
team building and getting people to work together as a group
is generally easier with full time employees.