Contractors or In-House Hires?
Summary
- If you’re starting a new division and unsure of hiring needs, contractors can be a flexible option.
- Asking someone to quit their job for a full-time position without knowing your needs can be risky.
- While contractors can be a good option, it’s not my personal preference.
- I don't like outsourcing because I’m skilled at running teams.
- I get much more value from full-time employees due to our culture and management style.
- Full-time employees bring disproportionate rewards when they’re in-house.
- If you're not skilled at managing and leading, it might make more sense to consider contractors.
Video
How To Take Action
Implementation Strategies
Use Contractors for Flexibility
I would suggest starting with contractors if you're launching a new part of your business and aren't sure how many people you'll need. It's a low-cost, low-risk way to get work done without committing to full-time hires. This way, if you realize you need fewer people, you're not in a tough spot.
Evaluate Your Management Skills
A good way of deciding between contractors and full-time employees is to honestly evaluate your management skills. If you're not confident in your ability to lead and manage a team, contractors might be a better fit. They require less hands-on guidance and can deliver specific projects with clear deadlines.
Build Your Skills
For personal growth, focus on building your management and leadership skills. You can do this through online courses, reading books, or even finding a mentor. As you get better at these skills, you'll find more value in having full-time employees who can grow with your company.
Create a Strong Company Culture
If you lean towards full-time hires, make sure to invest in creating a strong company culture. A good culture can make your team more motivated and productive, offering more value than contractors. This can be things like regular team meetings, clear communication, and showing appreciation for their work.
Plan Before Hiring
Before bringing anyone on board, take time to really understand what your business needs. Write down what tasks need to be done, what skills are required, and how much time these tasks will take. This will give you a clearer picture of whether you need a contractor or a full-time employee.
Start Small and Scale
Don't rush into hiring too many people too quickly. Start small and scale up as you understand more about what your business needs. This conservative approach will save you money and allow you to make better decisions as you grow.
By following these steps, you can effectively use both contractors and full-time employees to grow your business while also developing your personal management skills.
Full Transcript
I think that it allows a lot of flexibility so for example if you are starting a new Division and you're unsure of what your hiring needs are going to be having contractors might be the best way to go because otherwise you're hiring full-time employees asking them to quit their jobs and then you're saying oh I don't actually know if I need this many people so I think it's a good option for people to have I wouldn't say like oh it's like the first thing that I would do personally for me I don't like Outsourcing anything but why do I not like Outsourcing anything cuz I used to because now I am very skilled at running teams so I get way more from full-time employees because of our culture because of management style Etc than I do from contractors like a disproportionate reward on having people in house so I don't like having contractors um for that reason if you're not skilled at managing and leading it makes a lot more sense to look at that
