Whitepapers, Guides & E-Books

Employees vs Contractors EBook US

Free Payroll eBooks for Small Business Owners and Startup Founders in the United States & Canada

Issue link: https://blog.wagepoint.com/i/559241

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Page 9 of 19

Pros & Cons of Hiring Employees PROS CONS The employer is able to guide and supervise the work outcome using management techniques, workplace guidelines and KPIs - thus ensuring work is done as planned, regardless of the volume of work. Essentially, the employer has more control over their deliverables. More management required - needs strict processes and KPIs in order to manage employees. Employers are also responsible for all in-house training and the associated costs. While employees only work specified hours and days as per their contract of employment, they are generally, depending on the type of skill required, more cost effective on an hourly basis, as a result of supply - demand factors influencing less specialist skills on the employment market. Salary costs, including all withholdings, employment taxes and other payments due to the Federal government, agencies and state / local government are payable by the employer. Maintaining employer - employee relationships is generally easier for employers, compared to client - contractor relations, due to the control factor and ability to measure work outputs more easily. Working in the same office is also beneficial for both parties. Depending on the role, skills and seniority the talent pool can be limited to the locality the business operates, which means even where talent is plentiful there's usually a talent war amongst competitors and thereby impact an employer's ability to recruit the best talent. Deep Dive on Employees | Pg. 10

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