Hiring new staff can be exciting for a small business. You get to put a fresh face on your Team page, but more importantly, you add new skills and bandwidth to the company that will hopefully lead to further growth.
An important decision you’ll need to make when hiring is whether the role should be filled by a freelancer or a full-time employee. There aren’t any hard and fast rules about which is better. Instead, choosing the most cost-effective and ultimately profitable option for your business means weighing up the pros and cons of each.
Pay-as-you-go has never been more popular. In fact, between 2008 and 2016, the number of freelancers in the UK increased by 43%. Here are three reasons why:
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Between 2008 and 2016, the number of freelancers in the UK increased by 43%.
While freelancers are flexible, there are benefits to hiring permanent staff to grow with your business.
Hiring the right permanent employee isn’t always easy or cheap.
There’s no denying the freelance industry is booming. Half of the UK’s workforce is expected to be self-employed by 2020. But the choice between hiring a freelancer or taking on another full-time employee shouldn’t hinge on national trends. Instead, the decision should be based on what’s right for your business.
If the role will be integral to growth, with a consistent workload for the foreseeable future, investing in a full-time employee could be the best choice. If you have a project with a shorter turnaround, or one for which demand could rise or fall dramatically, a freelancer may be the safer, smarter decision.
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