The modern day business landscape, as it stands right now, is distinct from its past counterparts. Work can come in various shapes and forms, all of which serve to help advance operations and goals. With the right strategies in place, employers can expedite the time it takes to reach those goals as well.
One such strategy has to do with the type of worker you inevitably bring on board to the company. For the most part, many employers will hire employees, who are part of the business through and through. In other cases, the services of an independent contractor may be warranted.
Since company operations are subject to changing at the slightest whim, different tactics may then be key. Hiring an independent contractor can help you out in a myriad of ways, not just for the short term. Go over their needs, ensure it lines up with yours, and you will be on your way.
The following illustrates why an employer may need their services in totality.
1. Basic Premise
As mentioned previously, many employers will choose to hire employees for day-to-day operations. These individuals are the ones who will help steer the ship, in terms of reaching daily quotas. They will be paid a salary, and may be entitled to other benefits as per their contract.
Independent contractors are a slightly different form of worker, due in part to how their obligations stand. This individual is typically a consultant of some background, and can provide services for the short term. These services can assist business operations, for as long or as short as you require them.
2. Employment Lawyer
When it comes to the matters of hiring an independent contractor, contracts will be key. This type of working relationship is much more detailed than your typical arrangement. As such, hiring an employment lawyer may be essential, in order to make sure that all details line up.
As the name implies, this type of lawyer works within the confines of all matters related to the workplace. If you need someone to make a unique contract, these professionals should be contacted for assistance. That way, you will be able to create a satisfactory working relationship for both parties.
3. Completing Project Milestones
Typically, employers should be aware that their employees are a part of a team that work towards stated goals. When you hire an independent contractor, you are generally in the right to pause the project as you see fit. This will be stated in a contract that they may choose to provide you with prior to the start.
Sometimes, the right expertise is only available through an independent contractor’s services. However, you are mostly able to dictate how far along a given project can go, so that you receive a quality product. Always discuss the fine details of the project first, so that both you and the contractor are on the right track.
4. Invoicing
Independent contractors are also distinct from their employee counterpart when it comes to financial matters. When it comes to the latter, employees will be paid a wage or salary, depending on the contract given. For independent contractors, they will be responsible for their own invoicing.
Also, it is incumbent on both parties to determine how payment will be received, when an invoice is sent. In some scenarios, employers may only send a payment once the project is fully completed. At other times, an employer may be in the right to halt a project, and pay the contractor for the work completed thus far.
5. Paying Taxes
Bookkeeping is an intrinsic part of any employer-to-employee relationship, for several reasons. For the most part, an employer will have to dictate how much money is withheld at the onset. Afterwards, the employee may receive the money later on once tax season comes around. This aspect is much different when it comes to independent contractors.
As an employer, you generally do not have to do the bookkeeping for the independent contractor. These parties are responsible for doing their own taxes, and making the requisite records. All other payments should be examined on their own time, so that they are ready for each tax season.
6. Convenience
Employers should also know about just how simple it can be for this type of working relationship to work. Generally speaking, the employer will have a one-on-one meeting with a prospective contractor in the beginning. If everything checks out, the work tenure can then commence.
The contract will generally state when the working relationship can come to an end. However, if you, as the employer, are happy with the final result, you may be able to renew their services. Independent contractors are incredibly convenient to work with, especially if you need key services in short order!
