Your Team Players. Your team is important, and having the right people in place is critical! Just because you have had an employee for ten years doesn’t make them a dedicated and loyal employee. People can become comfortable and lazy. Ensure that everyone is working towards the same common goal, and contributing towards your business success. There should be a motivational relationship between your business success, and the rewards/success of each team player. However, it’s impossible to be responsible for all of the motivation behind each team member. A good portion of motivation just comes from respect, and wanting to do a good job for the pay.
Consultants and Contractors. The next question is, “should you hire or contract out for services?” There are a ton of advantages to hiring a professional contractor or consultant.
·
Reduce overhead. Reducing expenses
is a real attraction to hiring an independent contractor or consultant. Lower overhead means less stress to cover
costs. New business can go right into
your wallet and ensure the future success of your company.
·
No health
benefits are necessary. According
to the EBRI, employers
traditionally spend just over 29 percent on employee benefits. In 2010, the average total cost to employers
for employee benefits was around $10 per hour for each employee, or about 30
percent of total compensation. Source:
The U.S. Bureau of Labor
Statistics Due to health care reform, these costs are expected to
increase.
·
Cost control. With more employees, your office will
probably have to move to a bigger space, sign a lease, and purchase more equipment.
Contract out and save yourself some
money. You’ll also have the ability to
take on opportunities as they arise.
During seasonal or slow periods, easily scale back on spending.
·
Highly specialized. Many consultants and contractors come trained
and highly specialized, giving your company a leading edge towards greater
profitability. No successful business
works in a vacuum. Hiring an independent
consultant or contractor offers flexibility to the changing work demands of
your company, as well as the changing demands of the marketplace. Avoid juggling multiple contractors, find one
or two that you can depend on to meet project goals and grow with your company.
·
Require less
management. As your employee numbers grown, you
become less involved in practicing your trade and more involved in people
management issues. You have to worry
about worker-related lawsuits and putting out fires on a daily basis. Self-employed independents and contractors
should require less management due to the fact that they are more motivated and
accountable.
·
Well-networked
and well-informed. Many consultants and contractors are members
of local business groups, and are typically well-informed. In order to remain relevant, they have to
stay on top of trends, continue training and connect with other professionals
in their local communities. In time, an
experienced consultant or contractor can have access to a huge network of professional
services and experts in a variety of platforms.
