Has your small business grown enough that you need some help? According to the ADP Small Business Report 84,000 jobs were added to companies with less than 50 employees in April 2011. Service businesses are steadily adding new employees.
There are several options to look into if you want to hire another employee for your business. First, you should decided if your need is best met by a full-time employee, consultant, freelancer, contractor, or temp.
If you need a dedicated leader that is interested and invested in your business you should look into hiring a full-time employee. They will be focused solely on the business and making it great. However, a full time employee may cost too much for a small company. You have to be able to cover their pay, Social Security, medicare, unemployment insurance, and healthcare costs. Be sure that you are clear about what you are going to pay and cover for the employee.
If you have a big task or project, or are behind and just need to get caught up, you should look into hiring a freelancer. It is a shorter term commitment and there is an abundance of freelancers available for hire through the internet. Again, be careful and clear on your terms. Freelancers are often interested in working up to a more permanent position but are willing to show you what they can do first.
Know that the freelancer’s business will have a higher priority in their life than your business. When the two mesh it’s a great experience, but when a sacrifice is needed they will react differently than a full-time employee. Also, it might take more time to find and check out a freelancer, but you can often save money and advance your business with some great short term help.
If there is a specialized area of your business that needs some quick help you will want to check into outsourcing. You can hire multiple part-time workers that are experts in their fields to do work that advances your business and leaves you more time to do what you are good at. You might have to pay a bit more for that expert help, but think about your cost to do it and realize that you are doubling your time by outsourcing.
Whichever solution you decide on know that you are not stuck with that arrangement forever. And make sure you classify your employees correctly on any tax returns.
