Align:start so it’s taken some time and you’ve finally found the right person for the job do you need an employment contract well the truth is once you’ve made an offer of employment and that offer has been accepted by the other party you already have a contract in place an employment contract can be written verbal or a combination of both and all the binding contracts of employment are generally governed by the provisions set down by the Fair Work Act which means a verbal agreement will actually contain implied terms an implied term is any term that a court considers part of a contract even if that term has not been discussed by the parties now one would think that an employee has a duty to act in good faith but this is still a gray area of the law and only applies during the period of employment however most business owners expect that their staff not disclose sensitive information even after they’ve stopped working for the business by putting your agreement in writing you have a say in the expectations rights and responsibilities of the parties and there is less scope for the terms to be implied by clarifying the ground rules that may not be set out in legislation both parties will know exactly where they stand and that alone will reduce the possibility for misunderstandings and conflict flexibility is the main attraction of part-time employment not just for the employee but also the employer part-time employees are able to combine work with raising a family study or leisure activities while employers benefit from a more flexible workforce of course they work less hours than full-time employees and receive all the entitlements of a full-time staff member such as personal leave annual leave and superannuation on a proportional basis part-time employees may work under an award an enterprise agreement or a part-time work agreement which has been negotiated to suit the individual rpm Ruiz up to date part-time employment contract contains all the terms and conditions required to comply with a fair work act along with comprehensive instructions the contract or letter of offer in this kit sets out the relationship between the employer and the employee once the employee accepts the terms by signing the letter the letter becomes the employment contract the contract template is formatted in Microsoft Word for easy editing and can be used as often as you wish you really will be surprised just how easy this is and thrilled with the time and money you’ll save simply download your document edit and print
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Hi Folks, Dave Waring again with FitSmallBusiness.com in Today’s Lesson Of The Day in our last video we wrapped up our series on how to start and run a successful small business with a look at how to set up commercial office space. In today’s video we’re gonna begin a new series on how to hire and manage employees with a look at the advantages and disadvantages of working with independent contractors versus full-time employees. So let’s get started! As we discussed in our article on becoming a freelancer Intuit predicts that forty percent of the US workforce will be part time workers or full-time freelancers by 2020 when you add in all the other independent contractors from around the world there is an enormous pool of talent that you can leverage to help grow your business without adding full-time staff. At Marc Waring Ventures the parent company of FitSmall Business we’ve currently work exclusively with independent contractors to help us with everything from writing articles to accounting. I’ve also worked as the head of sales and business development for a large organization where we only hired full-time employees.
Here’s what my experience is been. The advantages of working with independent contractors versus full-time employees costs are lower with independent contractors verses employees. You save on wages. You can work with people from lower-wage countries and assuming you pay by the project you don’t pay for downtime or time they spend learning how to do the project you save on taxes. When hiring employees you not only have to withhold their taxes but your company also has to pay Social Security, medicare and unemployment taxes. This is over and above what the employee pays. Independent contractors pay all their own taxes. You save on insurance. Most states require you to buy workers compensation insurance for employees.
This is not required in working with independent contractors. You save on benefits many full-time employees expect benefits such as health care which will soon be a requirement for many businesses 401 K plans and paid time off it’s harder to get sued you’re not subject to the same labor laws with independent contractors as you are with employees as we discussed our article the hidden costs of hiring employees which I’ve include a link to blow this video just the taxes insurance and benefits portions I just outline can add up to 10 percent or more of the employee’s salary with independent contractors you can also be very specific about the skills you’re hiring for many small businesses do not have enough a specific type of work to warrant hiring a full-time person for that role if we had hired a full-time employee when we started out we would have needed them to be able to do a whole host of tasks including writing accounting web work and more it is very unlikely that this person would have been highly skilled in each of these areas because we went with independent contractors however we were able to find the person who was great at writing another who was great accounting and another was great web work this is true even though we didn’t have anywhere close to full time work for any of them in the beginning you have much more flexibility when working with independent contractors when you hire full-time employees they expect to work and be paid full-time wage regardless of how much work you have to them working with free lance is much more flexible because it allows you to give out work when you have it and reduce the amount of work you’re paying for during slow periods good independent contractors are easier to manage when you work with an independent contractor you are really working with another business so they’re not expect you to manage them this is not mean that you don’t need to give guidance are set priorities and deadlines it does have a main you do not need to look over their shoulder or spend as much time with things like training and performance reviews here the advantage of working with full-time employees verses independent contractors for some types of businesses like retail stores and restaurants working with free lance is not really an option at least fear primary employees like for salespeople waiters and cooks however this is not the only reason why you may want to hire full-time employees in a previous position Iran sales business development for a large brokerage firm many of the projects that my business development team worked on could have been easily outsourced however we decide to do than and house for three reasons: number one is that we viewed the projects and the firm’s knowledge of how to execute them as a competitive advantage that the company number two was that some of the information we’re dealing with us was confidential and we did not want it leaked outside the farm and finally you want to bring up talent from within the organization who could take on management and other high-level roles since full-time employees generally do a variety of different types of work for you they’re generally better suited to grow with the organization full-time employees are also better able to jump in and take care variety different tasks as they arise this thing contrast independent contractors who are generally hired for well defined tasks finally while not impossible with independent contractors team building and getting people to work together in a tight-knit group is generally much easier with full-time employees that’s our video for today if you have any questions or comments please feel free live in the comment section below also be sure to stay tuned for the next video in our how to hire and manage employees series we’ll discuss how to hire independent contractors for more bread advice on how to start and run a successful business be sure to visit us at that small business dot com today thanks for watching
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