3 Options You Have When Hiring Employees For Your Small Business
What's the first thing you should consider when hiring employees for your small business?
Your hiring options, that's what! There are three main types of employees: interns, freelancers/independent contractors, and W2 employees. Luckily, I've written about them all. Find out what each of them are and how they fit in your plans for business growth.
Ahh, the wonderful idea of getting a sharp, motivated college kid to do the work you don’t want to do, for little or no pay at all… It sounds dreamy, right? Alas, as in most areas of life, you get what you pay for as well as what you put into it.
The reality is – most entrepreneurs aren’t clear enough on what they need to have done, and how to train someone to do it for internships to be successful.
Freelance and Independent contractors are changing the face of employment.These individuals are usually experienced and ready to go. Some of them have a full-time job and do this on the side, and others treat this as their job or business.
I use freelancers for a large number of my projects and ongoing support. I have found that the ability to ramp up and wind down based on my business needs helps me run a lean and profitable business.
This is the traditional employer/employee relationship. When you make the leap to employer, you’re taking on a variety of responsibilities including a lot of paperwork. One of those is supplying a W4 to new employees. That is the employer side of the W2 employees get for taxes at the end of each year.
Becoming the Employer of Record is not something that should be taken on lightly. It involves a tremendous amount of paperwork and configuration.
Rikka Brandon is the author of the best-selling book Hire Power: Everything Entrepreneurs Need To Know To Hire Awesome People. She’s the creator of the Hire Power Program, an online program designed to help small businesses build a rock-solid recruiting strategy and stop settling when they hire. She’s the Founder of RikkaBrandon.com and Building Gurus. Rikka is the go-to girl for growth-minded entrepreneurs and forward-thinking business leaders and is considered as the USA’s Top Hiring Expert for Small Businesses.