Contractors vs. Full-time Employees

Putting together the right team of people can make a significant difference and either boost or ruin your business. Choosing between contractors and full-time employees imposes a whole new set of f...

Putting together the right team of people can make a significant difference and either boost or ruin your business. Choosing between contractors and full-time employees imposes a whole new set of factors to consider.

There are many reasons business owners choose one over another, and it all comes down to your business requirements. The primary distinction between contact and full-time employment is in tax liabilities and the employer-employee relationship.

CONTRACT EMPLOYEE: THE DEFINITION

A contractor is someone you hire to do a specific job over a period of time. This term mainly describes an agreement between a company and an individual that functions on a per-job basis instead of offering full-time employment.

In most cases, contractors are considered as outside employees. They aren't an official part of the company, and they are rather hired to complete a one-time job. However, a company could hire a contractor to do consistent work over a certain period.

Usually, contractors ...