CONTRACT VS FULL-TIME EMPLOYMENT

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FASTCOLLAB

• CONTRACT VS FULL-TIME EMPLOYMENT

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• This article is to address both the stakeholders
  of this timeless dilemma the employee as well
  as the employer.
• FinanceIt appears that freelancers, on the face
  of it, are relatively expensive to hire. However,
  if hidden costs of maintaining an employee, such
  as training, medical insurance, paid leaves and
  other benefits, too are to be considered, you
  might realize that you are saving only a small
  margin of expenses by hiring full time employees
  over freelancers.
• Adapting to added responsibilitiesRegular
  employees are more suited to take up a variety of
  tasks. Moreover, allowing in-house employees to
  rise up to the task prepares them for roles of
  higher responsibilities.

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• Termination of unwanted servicesTerminating the
  services of an employee, due to change in
  requirements, is easier to handle in case of
  freelancers. Conversely, freelancers are more
  suited for immediate hiring needs. On the other
  hand, if there is a need for overtime, getting
  regular employees to take up the work is more
  viable due to both expense and availability
  factors.
• Level of controlAnother factor to consider is
  the level of control you will have on how the
  work is executed. Quite obviously, you will be
  able to exert more influence in navigating the
  workflow on a permanent employee.

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