If you are a business owner, you might be wondering whether or not you should hire full-time staff to work at your business. There are a lot of advantages to hiring full-time employees, but there are also alternatives that might be better suited to your particular situation. Sometimes hiring full-time employees can be too expensive and there might not be enough work to occupy them. It’s particularly important that this expense to work ratio is balanced, especially when you’re growing a business. So as part of our Business Growth Series we’ll discuss some possible solutions which could work for you.
Hiring a Contractor
One of the advantages to hiring a contractor is that you don’t have to make a long-term commitment. It is a good solution if you know that you will only need this kind of help for a finite period of time. You will hire the person according to a contract to complete a specific task and you only need to pay them for the work they have done, there is no commitment to a salary, holiday time, benefits, etc.
Unpaid interns and volunteers are another alternative to hiring employees. In this situation you are offering the volunteer experience and something valuable to place on their CV. It’s important to ensure that the volunteer benefits from the job even though they are not being paid. One of the main advantages of this, besides the obvious money saving benefits, is that the volunteers will have a lot of passion and they can bring fresh ideas to the business.
Another option is hiring workers that complete their tasks remotely over the computer, either from their homes or while travelling anywhere in the world. The advantage of this is that you will not have to provide any office space and supplies and your employees will be able to work independently to their own schedule – which might make them more productive.
Perhaps you only need workers during a specific time of the year due to seasonal demand, then later in the year you don’t need half as many employees? Consider hiring employees on a short-term seasonal basis just during the time when you need them.
Outsourcing to a Firm
If you need a specific task done, such as web design, SEO or marketing, it makes sense to outsource it to a firm that specialises in that particular task. They will have the expertise and experience and they will be able to provide you with the best service.
Instead of hiring full-time employees, you could simply hire part-time employees for as many hours as you need, so that you don’t need to pay more wages if the work isn’t required.
If you only need a small task completed, such as a report researched or blog posts written for your website, you might consider hiring a freelancer. You can hire them only for the one off task but there is no other obligation to work with them after the job has been completed.
Consider these alternatives – they may be advantageous options to hiring full time employees for your business.