Is An Independent Contractor Best For Your Business

In the past, getting administrative support for a business required hiring staff. The ability to hire a virtual administrative assistant as an independent contractor now offers lower costs and greater flexibility.

The argument over which is superior: The debate over whether to hire an employee or an independent contractor has existed for a while without a clear winner. To make the best choice, it’s crucial to comprehend the advantages of using an independent contractor, though.

This blog will go over some of the advantages of hiring an independent contractor for your business’s administrative needs to help you decide if they might be a better fit for your needs. Let’s examine the benefits one might have for your company.

MBO Partners have laid out the perfect list of 16 Benefits of Hiring Independent Contractors vs Employees

1. Increased Flexibility: Outsourcing to independent contractors offers cost-effective, temporary employment without ongoing commitment.
2. Access to In-Demand Skills: Workers transition to independent contracting for specialized work.
3. Competitive Advantage: Independent contractors offer flexibility allowing them to staff up or down, competitiveness, and cost savings for businesses.
4. Cost Savings: There are many financial advantages to using independent contractors rather than employees. Independents must provide their own benefits, and pay their own taxes, CPP, OAS, and other fees because they are their own business entity.
5. Reduced Onboarding Time: Technology streamlines onboarding process for businesses, enhancing efficiency.
6. Corporate Agility: Independent contractors enhance market access, resource management, and cost flexibility.
7. Re-Engage Top Talent: Independent talent enables faster re-engagement for future needs.
8. Increased Efficiency: Independent contractors help businesses improve supply chain management, become more adaptable, and boost overall productivity.
9. Increased Productivity: Because their sole focus is on locating problems, coming up with solutions, and putting those solutions into action, independent contractors frequently complete the assigned tasks more quickly than traditional employees.
10. Minimal Overhead Expenses: For hiring, engaging, and managing contingent workers, independent contractors provide cost-effective, specialized knowledge, and low overhead costs.
11. No Employment Benefits: Independent contractors do not require all of the additional costs like EI, retirement plans, benefits, etc.
12. Project-Based Staffing: Independent contractors complete projects independently without ongoing employment discussions.
13. Minimal Management Required: It is prediscussed contract completion and also requires less oversight than traditional employees.
14. Reduced Administrative Work: Outsourcing onboarding streamlines background checks, contract reviews, and compliance tasks.
15. No Required Training: Independent talent already possesses expertise. There is no need for training. This significantly shortens the time required for onboarding, which expedites the start of projects.
16. Access to a Global Talent Pool: Any skills that your business could require, it can be found anywhere in the world.

When it comes to meeting your company’s administrative needs, you have a variety of options, including hiring an employee. However, it might be preferable for your business to use an independent contractor instead.

If you aren’t sure if an independent contractor will work best for your needs, contact us and we will help you find the right solution for your business.