Are you the next big business? – How to staff your start-up
HOW TO STAFF YOUR START UP!
Part-Time, Contractor, Temp, Casual, Full-Time or outsource EVERYTHING??
It’s a question every entrepreneur asks him or herself when considering how to achieve their new-business goals.The natural cost-efficient method many new business owners opt for is to try to go it alone during the start-up phase. But it’s important to know when it’s time to hire, and what your hiring options can include.
Getting help so you can focus on the core business strategy is an important step in owning a new business. Whether this is from day one or later down the track, when you have determined it’s time to get help, it’s worthwhile taking careful considerations to your options and their immediate and longer term implications:
A very useful initial approach would be to hiring independent contractors or outsource instead of hiring employees. Using independent contractors allows you to easily staff up or down as needed, depending on your business short term objectives.
- typically less expensive than hiring employees
- flexibility to engage on a project or per-hour basis
- avoid ancillary costs and taxes associated with part time/full time staff
- immediate access to specialist experts in their fields
- less control over the output of an independent contractor or outsourced provider
- you could potentially be leaving your intellectual property or key business strategies in the hands of an outsider
When looking at your budget and possibly being unsure around the time required for each activity, part-time employees can provide an excellent option where flexibility will be key.
- part-timers can adapt to yourpace of development
- you can have full control over their activities whilst in your work place
- generally part-time staff are less expensive than full time or independent contractors
- you can quickly adjust their hours if needed
- they can develop with your business and there is always the potential to increase hours or even become full time employees
- part–timestaff are hired specifically for their existing skills and should hit the ground running
- as they are part of your business they can form relationships with customers and suppliers
- part-time staff may leave your business without much notice
- you must ensure that you are complying with local and federal employment obligations as they relate to part time staff
- part-timeemployees incur taxation costs
- by their nature part-timestaff enjoy the flexibility this type of arrangement offers them. You will have to be prepared for potential changes to their schedules
There is no question that hiring full-time employees has advantages however finding the correct employee to take a punt on your idea, no matter how great can be difficult, especially if your ideal catch is already working in another employer.
- building a full-time and dedicated team of employees can help your business form a sense of community and work to your goals
- full-timers are likely (not always) to be more reliable, punctual and loyal than independent contractors or part-timers
- they can buy into your strategy and really care about your longer-term business goals
- salaried full-time employees cost more
- to attract high-quality workers, you’ll possibly have to offer incentives
- full-time employees are looking for career/professional development which may not be compatible with your stage of evolution
- incumbent in hiring any full-time employees are your legal responsibilities as an employer, such as compliance with relevant employment laws and employee rights relating to termination, employee safety, benefits, discrimination, harassment, and more