Hiring a full-time employee is a big commitment. If you aren’t happy with their work, it can be difficult to terminate them. One option is to go with a contractor instead.
Independent contractors are often the more flexible choice. If your workload is high, you can use them heavily. If the work dries up, you aren’t obligated to keep paying someone a steady rate for doing very little. If your workload is constantly fluctuating, like in the case of seasonal jobs, a contractor might be the right fit for you. You can hire them for a couple of months until a task is complete and then move on.
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Though some people tend to think of independent contractors as being more expensive, they can actually save you money. For one, they often come to your company highly trained in a certain area of expertise. If employees don’t have the expertise you need, on the other hand, you may have to pay to train them. This can eat up a lot of time and money. You don’t have to worry about salaries and benefits for contractors either. Social Security and Medicare taxes, unemployment insurance, and workers’ compensation insurance can all add up when you have a force of employees. Not so with contractors.
Finally, contractors allow you to avoid messy legal cases. Federal and state laws protect the rights of an employee. Terminating an employee, even on valid grounds, may result in protracted legal battles. Independent contractors do not enjoy the same rights that full-time employees do. That means that you can say goodbye to a contractor when their contract ends without the same legal ramifications you would face when you let an employee go.
And best of all, if you really like a contractor, you still have the option of hiring them on as a full-time employee. Contractors offer many benefits but fewer risks.
