Stuck with the same old question, whether to hire full-time employee or freelancer? Been there, done that. As entrepreneurs and business owners, we often get stuck at this cross-road. Business is growing, maybe there are chances of securing funding, great going and suddenly we realise there are not enough people to do the required work. Oh yes, that happens, more work and fewer people. So what do we do next, call a recruitment agency? Nah, we are early adopters, we believe in disruptive technologies. So what, just go ahead and hire a freelancer. Well, maybe, but as successful business owners, it is important to analyse all the options at the disposal. So again, how to decide whether to hire a full-time employee or freelancer? Let us discuss some important factors
Cost
It is essential that you keep the costs down, profits up, and we do not have a lot of cash. So, it is important to identify the type of project and the workload involved. For a one-off project hiring freelancer can be cost-effective. On the contrary, if you have a long-term project or regular work, a full-timer can be highly profitable. On the plus side, freelancers do work remotely, so no additional overhead expenses. If you hire a full-time employee, you need to pay them a fixed salary, sick leave, and a paid vacation. I mean come on, when was the last time you took a vacation? So, consider the long-term sustainability as it will have an enormous impact on the final costs.
High-Speed Need
Well, let us accept it; we need several tasks to be done, like ‘yesterday.’ Think carefully, would a full-time employee be able to do it? Employees have to be trained, monitored, and motivated. Instead, hire a freelancer that has the required expertise for a particular task and get the job done quickly. Freelancers are good at what they do and work with minimum supervision. You will save your valuable time and can complete the project efficiently.
Access
Irrespective of whoever you decide to hire, access is no longer a problem. The rise of talent-pairing platforms has minimised the core problems involved in recruiting. Whichever expertise you need, there is someone out there who will help you find it. Some of these talent-pairing platforms go a step further and even scrutinise the freelancers for you. They get you most suitable person for the job, and you don’t have to do a thing except post a task. Isn’t that nice, once in a while a job is getting done, and you don’t have to sweat it out.
Commitment
As a business head, we wish that all people working for us are totally committed to our organisation. But we all know, most of the time how that turns out. It has always been thought, full-time employees are fully committed to the company, are they? With several opportunities at the fingertips, it’s hard to find a completely committed employee. I am not saying it is impossible but difficult. When it comes to freelancers, they try and deliver the best quality work to keep you as a client but your company’s success in not their priority. Again, you can find committed freelancers, but it is tough to find one who will give utmost importance to your company’s success.
Availability
Gone are the days when working meant nine to five. We live in times when if you are not available 24*7, someone else is. Depending on your business model and type of work involved, you need to decide whether you need someone who is available to work for you always or you need someone who can pitch in as and when required. This is an important factor; you do not want to hire someone and realise you can’t give them enough work.
There is no single answer to the question, whether you should hire a full-time employee or freelancer. It depends on your specific needs and goals for the project. Freelancers are perfect for one-off tasks, occasional work, short-term projects, and work that can be done remotely whereas full-time employees are essential for building a company culture, brand and a client base. Thus, it is important for you to judiciously decide to hire full-time employee or freelancer for your business to succeed.
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