As 2020 begins it’s a good idea to look back on how your business fared in 2019. Even if your business was in the black and hit no major speed bumps along the way, you might want to make some changes in how you do things. As you look back, did you end the year feeling stressed? Are you worried about having your books up-to-date and all your business receipts on hand and ready to give to your tax professional? Do you just feel overwhelmed in general? You probably need to hire more help. The question is should you direct hire, or consider contracting out? For small business owners, it’s probably better to hire independent contractors. If you’re unsure, consider these three advantages to contracting out positions.
You Can Hire a Specialist – Most small business owners don’t have the luxury of hiring workers who are only responsible for one thing. Usually, they need their employees to have more the one job title. The person who’s a whiz at finding new customers might struggle if they’re also expected to do the company’s books. If you hire a contractor to work on your books for a few hours a week, your great salesperson will be able to concentrate on helping you grow your business. Instead of asking someone to step into a position they’re uncomfortable in, you can hire someone with years of experience on an as-needed basis.
You’ll Probably Save Money – This may seem counterintuitive, but hiring a contractor can be better for your business’s bottom line. You may pay a little more per hour, but you don’t have to worry about paying benefits. Most full-time employees expect benefits like vacation time and having their professional certifications or licenses paid for. if you’re unable to offer them you might lose the best candidates to companies the can. A contractor isn’t expecting benefits and will take care of any licensing and certification fees themselves. You also won’t be responsible for paying Social Security and Medicare taxes for contractors.
You’ll Have More Flexibility – If your business has seasonal lulls, or you know you’re entering a busy stretch and will need help from an administrative assistant, using a contractor will make it easy for you to make quick adjustments.
If you think your business would benefit from having contract employees, VersaTel Solutions can help you. Whether you need a virtual assistant, a bookkeeper, or something else, we’ll find the perfect person for your job.