One of the main reasons that people look to hire from the growing pool of Freelance workers is the salary and cost implications of doing so. There are many things to consider when it comes to pricing up a potential employee. From Resources, to staff support, to salaries and benefits. Let’s take a quick look at these.
You have lofty ambitions for your company or department, but lack the resources to achieve them. You also have a well-defined strategy in place and understand the direction you want to take, but getting there is made more difficult by the need to cut costs. Have you thought about recruiting freelancers?
They may play an important role in supporting you in achieving your short- and long-term goals. You’ve probably heard about the benefits and drawbacks of having to work with a freelancer vs a full-time employee, but have you ever wondered how much it really costs to hire an employee?
Most business owners believe that working with staff that have been with the company from the beginning makes them feel more comfortable. Employing a freelancer in this way may appear strange in most businesses since there is an established level of trust between management and workers. Collaboration with a freelancer or contractor is more cost-effective than employing a full-time employee and then paying them. As far as the reaction goes, though, it’s dependent on a wide range of things. Consideration should be given to how long an employee has been employed. You must be certain that the person you choose will be a long-term employee, able to spend the time, energy and money to identify, hire, and train them.
When it comes to choosing between freelancers and full-time employees, the choice might be complex, but it doesn’t have to be. Determine which option is best for your organisation by looking at the advantages and disadvantages of employing freelancers or contractors in light of your company’s needs.
In addition to that, freelancers aren’t exactly inexpensive. If your organisation needs a certain set of skills that none of your present workers have, you shouldn’t be forced to go elsewhere for a replacement only to cover the gap. In terms of both time and money, going through the whole hiring process again might be a hassle and pricey. The time you save by using a freelancer is mitigated by the fact that you’re getting access to people who have the expertise you need.
The resources that a good freelancer has means that you do not have to spend money on computers, phones, desk space and other such resources for them to do the job.
Their hourly rate might be higher than full time staff, but they need less support and are not working for you for the full year. Being more focused and short term means that they are more efficient and you get more bang for your buck.
When you have a team of full time employees, you also need Finance, HR, Admin and other such people to support them. You may need teams, and therefore Team Leaders, Team Managers and more people in less productive positions to support and guide and train the staff. Freelancers generally require less support staff for your company.
There are many benefits, there are also risks. Weighing them up and successfully hiring a Freelance worker can save you money both short term and long term.
Ask us about it if you want to have a chat.