Business owners tend to think that hiring contractors will save them money as opposed to having full-time employees. There are pros and cons to both options.
Contractors run businesses of their own. If you think you’ll get them cheap, think again; the savings that most people think of when they talk about hiring contractors is in taxes, payroll, retirement, healthcare – administrative costs and employee benefits. You avoid those with contractors, but does this really save money in the long run?
Having full-time workers may cost extra, but what about the consistency that you get from having a loyal, dependable workforce? Having your own employees means they are vested in the company and there to help you succeed, whereas someone who is contracted will do only what you paid them for and be on their way.
Ask yourself what you really need out of your employees. If what you need is quick and doesn’t require much thought or skill then contracting is the way to go, but if you need someone to be there when the going gets tough and work through obstacles, then maybe a full time employee is worth it in the long run.