Should I hire an independent contractor or a full time employee?
I have reached the point where I can not handle all the work by myself anymore and I need to outsource some of it. I am not sure if I should outsource by a per project basis to an independent contractor or hire a full time employee. How do I decide what makes more sense time, money, and training wise? If work continues to quantify, I would want to make a full time hire anyway, I am just not convinced I am there yet.
Much depends on your business plans & type of service you need. If you need highly-skilled tech professionals on a full-time basis but don't want to spend lots of time & money on them, you can contact an offshore software development company. In such way, you get your own team of professionals in a more cost-effective way. No compromise on quality of service, as these specialists choose employees out of a huge talent pool.
If you're a small company looking to build a dedicated team quickly & with no risks, this may be the right solution for you. Anyway, good luck to you!
I'd recommend holding off on the costs of a FT employee. There is a ton of extra expenses with this option. I would recommend outsourcing above hiring an independent contractor. I have use outsourcing for a year now and it turned out to be the best choice for me. #1, it saves time and allows me to focus on money making activities. There are many more bonuses and I can share them with you if you are interested in learning more. Just send me a message and we can chat. I can even pass on a few resources if what you are needing is something I have a match for.
Your question has the answer in itself.
You mentioned you are still not there to hire a full time but you will need a full time sometime in future .So till that time just hire an independent contractor with an agreed time frame on the contract and once you feel you are ready to hire a full time either take the same contractor as full time or close the contract with him and hire a new full time employee.
Best Of Luck,
North York, Canada
Hiring a contractor has it's perks however you may be responsible for the unexpected, like paying workmens comp for them if they do not carry this themselves.
Evaluate your needs and the future of your company. Will it continue to grow and how long do you think this growth will go on. For the short term a contractor would work out to your benefit. Long term, hiring someone and training them will enable you more freedom. Vacations expansion etc.. most will not have the heart for business as you do so understanding this chose a plan that works in your favor.
Best of success. Gil.
If you are sure that your work will going to increase i.e. your work is a long term work; I will recommend you to go for full-time employees. Else if your work is going to wrap up within few months, hire a freelancer.
I agree with Walter Wise. It depends. If the work that needs to be done is to continue growth of your company then an independent contractor could provide the assistance to sustain current commitments. This will give you time to clearly assess all options. Prioritizing has helped me to choose the best solution.
If the work is simple and monotonous, hire a full timer. This is from experience. People who come and go do the hard stuff, get tired, stressed and leave. If the work is considerably demanding, consider hiring even high school or college students - who can learn readily, then pass it on to their friends before they burn out. Hiring online freelancers is also good - these people are obviously hungry and looking to get a reputation for their skills.
Having a mixed group of these people is also good common sense and lifts your youthful vigour.
Well It depends on work situation & your ability to pay , I think full time employee so that you can move freely to develop the work , Since you are at building up your business then you can make better results while moving out .
As someone who provides outsourced Chief Operating Officer services, I think you will be well served by hiring a contractor to assist on a part-time basis. There are several benefits to this approach, including minimizing the time you spend training, getting the incremental help you need without paying for unused capacity, and having that person help define the requirements and skillset for a future full-timer. It may even turn out that the part-timer becomes the person you want full time, and you will have been able to "test drive" before buying.
Note: the part-timer may cost more on a per-hour basis than what you would pay a full-timer, but you should expect their expertise and efficiency will result in a positive ROI.
Hiring a virtual assistance has some advantages. Like you wouldn't have to pay us (a virtual assistant) overtime, sick pay, vacation pay, family leave, 401k's or any kinda benefits an employee gets. And best of all we (a virtual assistant) pays our own taxes. You just need to know the jobs getting completed so hire someone you can trust.