Working with independent contractors is not just an idea anymore as about ten percent of the American workforce is made of independent contractors working in various sectors. If you own a business or company that is looking to fill a vacant position now, you may want to consider hiring an independent contractor, popularly referred to as 1099 employee. The reason why the number of independent contractors is on the rise as can be seen on this website is the array of benefits they offer. You can learn more about the benefits of hiring a 1099 employee in the article below.
On top of paying a full-time employee’s monthly salary, you will also have to pay everything including workers’ compensation which can be very expensive compared to working with a 1099 employee and you can view here for more info. Hiring a full-time employee to work for your company often comes at a high cost because of all the things you have to pay as you can learn on this page, however, you can minimize your labor expenses if you opt for a 1099 employee instead since you will only pay for the services they provide.
Most full-time employees are usually employed for a long period and you can know more about it here, but these independent contractors can be recruited to fill a position temporarily as needed. If you have ever been stuck by a full-time employee whose services are no longer required then you know how inconveniencing it can be, but lucky for you, you can recruit a 1099 employee for a specific project or a short period.
It is usually the responsibility of a company or business to ensure that their full-time employees are fully insured making it more expensive to maintain them, however, you can expect less legal problems with independent contractors because they are supposed to pay insurance for themselves. The fact that independent contractors fend for themselves as far as insurance is concerned as highlighted on the homepage makes them less of a legal risk than a full-time employee for your company; you will never have to be involved in costly legal battles again.
Finding a replacement for a full-time employee can take a lot of time and resources but not an independent contractor because you simply move to the next one which you can know more about hiring. The good thing about 1099 employees is their specialty; their skill set makes them the best at a particular job that will provide huge returns on investment for your business. Hiring a 1099 employee to tackle a special project will benefit your company through the ways highlighted above.