With the changing scenario in the job market,
fewer employers hire people for full
time jobs, leading to a dilemma of freelancers vs full time employees. With
advancement of technology, contract jobs are becoming more popular.
Working in a single location is no longer a must with different arrangements available. The Freelancer’s Union states that 1/3 of the working class in America, roughly around 54 million, work independent of employers, either on a contract basis or as freelancers.
Executive
Dilemma: Are Independent Contractor Jobs Better?
Full time employees
work in a single company and get paid on an hourly basis or receive a fixed
salary.
What is freelance? On the other hand, for freelancers, their employers are more like clients.
As an employer, when you consider contract vs full time employees, which is a more practical option? The trend is towards a gig economy and companies are slowly moving towards freelance work, as it offers them more flexibility.
That being said, there is another side to the coin in case of choosing between freelancers vs full time employees – so here goes:
#1. Cost Effective
- Hiring full time employees makes more financial sense.
- A full-time contract is a cost effective option.
- However, though the actual payment might work out to be less, there are other expenses involved with full time employees, which might make it more expensive in the long run.
## Salary increases.
## Training expenditure, which is not present in contract jobs, as the person is specialized for that particular task.
#2. Time Investment
- A full-time employment contract can be cumbersome as you need to train him/her completely to fit your requirements.
- Interviewing and finding the right candidate is also time consuming.
- You don’t have to spend much time with a part time employment contract or freelance workers. There are many candidates on the lookout for part time freelance jobs. You can quickly bring them on board for a specific or single project.
- For instance, if you have a short-term task for designing your website, you can hire freelance developer temporarily for a freelance design work or other freelance projects.
- Again, if it is a marketing job that can be done from any location, there are plenty of capable people available for marketing freelance jobs.
…
