In addition to deciding when you want your new employee to begin working, part of the hiring process also involves determining whether they will work part-time or full-time.
However, there are several differences between these two schedules, and it isn’t just the number of hours the individuals will work for you. Understanding this fact is particularly important if you plan on convincing management to hire more staff.
Part-time vs. full-time employment also impacts other aspects of running a company, but the biggest concern that most employers have when it comes to this issue is whether they are required to provide health insurance and pay for overtime hours.
In the information provided below, we will look at the pros and cons of employing someone on a full-time basis so that you can decide what works best for your company. However, let us first consider the primary difference between part-time and full-time employment.
Difference Between Part-Time and Full-Time Employment
The main difference between part-time and full-time employment is the number of hours an individual is supposed to work. Even though employers have a bit of wiggle room when it comes to hours worked, specific federal labor regulations determine how a business can classify its employees. As a result, you should familiarize yourself with them.
Pros and Cons of Employing Individuals on a Full-Time Basis
There are pros and cons when comparing contract hire to full-time employment. In both cases, you will need to assess your company’s needs and determine what option is best for you. However, in this piece, we will be highlighting the pros and cons of full-time employment in particular.
Most full-time employees develop a keen sense of responsibility with each day that passes working at your company. This is because they spend more time in the office, which means they learn and adapt on how to handle a wide range of activities such as inventory tracking or departmental management.
One of the best things about full-time employees is that they tend to be more loyal. Interacting and working closely with fellow employees and management fosters feelings of loyalty, engagement, and dedication toward the company.
Full-employees often develop a sense of pride in whatever position they hold in your company. This is due to the satisfaction they get from being part of a team, working in an environment where they feel comfortable, and having the peace of mind that comes with job security.
In most cases, the wages of a full-time employee tends to be more stable than that of a freelance contractor.
When you have full-time employees working for you, it will allow you to rest comfortably knowing that you always have individuals you can trust and rely on when you need them to come through for your business.
You can also delegate various tasks permanently, such as blogging for your business, which will help free up your time to do other, more important, things,
With full-time employees, you won’t have to train new staff on business processes, equipment, or job responsibilities. This will help save time and money.
With full-time employees, there is always the possibility of them burning out. However, this particular situation cuts both ways since employers may push them too hard, killing their potential to provide good results.
On the other hand, doing the same job for too many years can lead to boredom and lack of motivation among full-time employees.
Higher Payroll Requirements and Benefit Expenses
Due to overtime rules and federal requirements, you may have to pay your full-time employees a whole lot more for their work and provide them with various benefits like health insurance and worker’s compensation.
You will also have the same payroll obligation at all times whether your business is doing well financially or going through a slow period.
Training and Licensing
As the employer, you will be responsible for your full-time employees’ training and professional requirements, which at times can be quite expensive.
As you can see from the points mentioned above, hiring full-time employees has its pros and cons. As a result, it is up to you, as the employer, to assess your company and determine whether going down this path will be the best decision for the sustainable growth of your business.