Should you hire someone full-time or part-time?

Key points to consider

If you run a business, the time may come when you need to hire additional help. But should you hire someone on a full-time or part-time basis? Here’s what you need to consider.

Understand your obligations

An employee’s status and weekly hours determine your responsibilities. Full-time employees typically work 30 to 40 hours per week and are entitled to paid leave and vacation days. Their part-time colleagues, who usually work fewer than 30 hours per week, are typically not entitled to the same amount of paid time off. You may also be obligated to pay for other benefits for your full-time employees. All told, a full-time employee represents a larger investment for your business.

In short, it may cost you less to hire a part-timer, but your decision shouldn’t be based solely on finances.

Weigh the differences

Part-time employees offer more financial flexibility, allowing you to adjust their work schedules based on demand. This will help you manage cash flow during slower periods. However, a full-time employee offers advantages in other ways.

If your operations require constant attention to customers, logistics or marketing, a dedicated full-time employee can provide more value in the long run. Since they’ll be spending more time at your company, they’ll be better able to help you achieve your business goals. Depending on your business model, this can be a considerable asset. You’ll then need to think about the skills you want them to bring to your team.

In conclusion, making the decision to hire a full-time or part-time employee should align with your budget, business needs and vision for your company’s future. Still unsure? Consult a human resources expert in your area.