What Are Independent Contractor Solutions?
Sometimes running a small business is a juggling act. You can initially have months that are very slow, not profitable, and frustrating. Other times you can have so much business that you simply can not find enough staff even if you offer an option of overtime. In many cases, the answer to small business problems is looking at independent contractor solutions.
If, for example, you own a small gift boutique that is only open six days a week for ten months of the year, it can be very difficult to adjust to a seven day work week with three to four additional employees. While hiring part time help is sometimes an option for the retail side of the business, the payroll side of the equation can be more difficult to solve. Independent contractor solutions, however, can help you handle the extra tasks. For instance, an independent contractor specializing in payroll solutions can be a temporary solution to your busiest weeks.
If you take the small gift boutique scenario and multiply it by 10, or 100, or 1000, you begin to understand the complications of large businesses who have to hire seasonal employees. Whether it is for tax preparation deadlines in the spring, or performance and maintenance staff in the fall months, a fluctuating employee base is a great reason to work with independent contractor solutions.
Did yo know that 90% of firms use freelance or contracted talent? When you realize that companies spend, on average, nearly $3,500 per candidate on recruiting, it simply does not make sense to constantly have to hire a new employee every time your business sees a major increase. Increases should be seen as a positive in any business, but they can be a major challenge if you have to hire new staff to deal with increased sales, staffing, and payroll.
Among businesses that handle payroll themselves, nearly one in four report spending more than six hours per month on payroll. If your small or large business contingent workforce causes you to spend too much time on payroll, consider workforce management software or an acquisition of independent contractors to help you maximize your time, your efforts, and your profits.