Should You Hire Employees or Independent Contractors?
Do you own a startup? If the business takes off, you’ll eventually need to expand your workforce. With this comes a huge decision: should you hire employees or independent contractors? Depending on your industry, you may have to hire one or the other. With some industries, you have more leeway than with others.
Hiring Employees and Independent Contractors; the Difference
First, you should know what constitutes an employee and independent contractor.
Employee—Employees work under a formal contract, thereby giving the employer the right to dictate how the employee performs the work. You have the right to dictate how you train and supervise the employee as well as control work hours.
Independent Contractor—With independent contractors, you may provide a work outline and set a deadline. In other words, you may dictate what you want the end result of the work to be, but not dictate how it’s completed. [Read more…]