Even if your current workforce is meeting its goals, new candidates can bring new perspectives, innovation, and creative ideas. One of the main benefits of hiring and training full-time employees is that it leaves you more time to focus on the fundamental aspects of your business. When you're working alone, you must take on multiple roles and complete repetitive tasks, such as making your books or sharing content on social media. Meanwhile, last year, the turnover rate (the rate at which a company needed to replace workers for the same position) reached its highest level since 2000.
For example, a company that is growing at a steady rate and that can offer enough work over the next few months or years may benefit from hiring a new employee. You'll want to hire as many billable employees as you can to keep your target gross profit percentage busy. A current of thought says that if you find someone who is a perfect fit for your core values and beliefs, especially if that person can generate income, hire them. Contractors, independent workers, and others with alternative work arrangements, referred to as contract workers, are generally not eligible for employer-provided health insurance.
The key is to show how these temporary workers can fill skill gaps, offer flexible staffing solutions, and allow for a trial period before committing to a full-time employee. As the founder of a start-up that helps people achieve stable incomes, I have set out to hire only full-time employees with benefits (with the exception of interns and those looking for part-time work).
