Hiring A Freelancer vs. Full-Time Employee
Organizational culture is incredibly important in ensuring success across the lifespan of any business operation. One of the most important elements in fostering this culture is the hiring process of an organization. The hiring process is what guarantees an organization that who they’re bringing in will be the right choice. In the instances that the hiring process fails, organizations are dealt with a very expensive opportunity cost. As many hiring processes will take time, the inability to find the right employee for a company will mean that the new search and hiring process will begin anew. This, in part, is why many organizations are looking to freelancers as opposed to full-time employees. While the differences between these two types of employees may seem stark, the truth is both types of employees are more alike than you’d think. The real differences between these types of employees are the costs associated with them that must be incurred by the organizations that hire them. Where full-time employees would see unique health insurance, retirement, and other benefits as a result of their full-time status, freelancers are without any of these benefits. Similarly, some of the tax responsibilities of organizations as a result of full-time employees are actually incurred instead by the freelancers themselves if they were to be hired opposed to the full-time employees. These savings often leave organizations reconsidering their hiring processes. All that said, what’s most important is not cutting costs, but instead finding the employee correct for the job. To learn more about the ways in which organizations accomplishing this, be sure to take a moment to review the resource supported alongside this post.
Hiring A Freelancer vs. Full-Time Employee this infographic was contributed by Tab Service Company, a premier choice for any of your needs related to 1099 nec online filing