About Freelance Contractors
Running a successful business takes many things, but chief among them is competent professionals you can count on. Usually, such people are those you seek to hire on to your company so that they can provide the expertise you need on an ongoing basis. Sometimes, though, that may not be practical. Whether the expertise required is short term in nature, or if it just isn't within the business' means to hire a full time professional, a freelance contractor can provide the expertise required.
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Function
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A freelance contractor provides expertise, knowledge, or man power without becoming an employee. Instead, the freelance contractor works as a non-payroll employee and bills the company for the services provided.
Benefits
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There are several benefits to hiring freelance contractors. One benefit is that as a freelance contractor, the business does not have to incur the additional expense of paying for benefits or employment taxes. Another benefit is that terminating the contract of a freelancer is easier than laying off or firing an employee, so greater flexibility is provided. An additional benefit is the ability to bring in expertise for a specific project or event.
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Warning
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Freelance contractors can be of great use to a business. However, there are instances where various regulations or laws may require a person to be counted as an employee, regardless of how the business wants to characterize the person. This happens most often if the freelance contractor works for a single client for a long period of time. In this instance, the contractor may be an employee by law, and thus entitled to any employee benefits.
Considerations
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Freelance contractors are not employees. Thus, they may not understand the specific culture of the business, nor the nuances of the type of business. Additionally, some employees may feel threatened by an "outsider." Finally, when the freelance contractor leaves, so does his experience. Evaluate whether it makes the most sense to get someone "permanent" or to go with a freelance contractor to make sure the right choice is made.
Potential
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Hiring a freelance contractor can be a good way to help with a sudden jump in business. If the increase in business is not temporary, then a full-time position can be extended to the contractor as a way to cover the increase permanently. If the increase is not permanent, then the freelancer can be let go when business returns to normal. Additionally, hiring a freelance contractor can be a useful way to see if someone is a good fit for the company. Again, a permanent position can be extended if desired once it is deemed desirable.
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