Hiring employees isn’t quite right for you right now? Consider engaging a few freelancers to pick up the slack and help drive your business forward:
Here are some of the key business benefits of pursuing the freelancer route:
Less paperwork and administration burden
Employing people can be a rewarding experience, but it also comes with its own administration requirements. Not to mention the HMRC fines for not doing it….
When you engage freelancers, usually it is just a case of recording and paying their invoice!
No employer costs
The costs of employment are significant. We cover many of these points in our detailed blog here.
You will have holiday pay, compliance costs, employer’s national insurance & pension costs (depending on their earnings level) to name a few.
When engaging freelancers you will not have these costs.
If you’ve never used a recruitment agency you may not realise the significant fees associated with this. They all charge slightly differently however, 18 – 20% of the employees annual salary is a fairly common fee when they provide you with a permanent employee. None of these with freelancers!
Expertise over a day or two a week can cost the same as a full time junior
Often people will compare the cost of full time unskilled labour to that of a part time experienced freelancer.
Yes, you potentially could have someone for longer hours for less. When comparing the results you can achieve with the experience of a freelancer, this often becomes more cost effective.
Heelan Associates’ client and external network (and our #HeelanHub) means that if you need a freelancer fast, chances are we’ll know one. Ask us for a referral or recommendation (or chances are we’ll know someone who knows someone…..).
WORD OF WARNING: When looking to work with a freelancer, you need to be careful that you are engaging them as a truly independent business. You may think it sounds like a great idea to take on a load of “freelancers” of your own design in an effort to reduce the admin and cost, but HMRC will challenge employment status if they feel your freelancers are actually employees. You may of heard of ‘IR35’ (Blog here) – this piece of law one of the ways they can tackle this issue.