This is a question most business owners think about at some point, especially during the early stages of the business. What is the best decision—hiring full-time workers, part-timers, or a combination of the two?
Before you even begin posting job ads, you have to know the advantages and disadvantages of each kind of employee. These are exactly what you will learn in this blog post:
Full-Time vs. Part-Time Employees: The Main Difference
As their names suggest, full-time employees work longer hours than those who work part-time. Someone is considered a part-timer if they work less than 40 hours a week, whereas full-timers work 40 hours.
Pros of Hiring Full-Time Employees
With full-time employees, your company can get more done. It will be faster to reach goals and you can avoid the hassle of explaining processes again and again. They will also be easier to reach and are more likely to show up to work, resulting in fewer interruptions.
More consistent output
If your workers are employed full-time, it is likely they will not be working other jobs. This means their attention will be just on your business, and not on other part-time jobs. Your employees will be more focused and deliver quality output.
Your full-time employees spend their precious time working for your company, so they are bound to feel some form of attachment toward it. As long as you give them the required benefits and treat them with the respect they deserve, they will stay with you long.
Cons of Hiring Full-Time Employees
More stressed-out team members
Working 40 hours on the same job every week can take a toll on any employee. It is safe to say, therefore, that full-time employees have a higher chance of developing burnout than part-time workers. If they experience burnout, they may become less productive and are in danger of becoming disengaged or resigning.
As their employer, part of your responsibility is to ensure they get enough rest and do not take on too many projects at once.
Costs of benefits
Offering healthcare, government-mandated benefits, and bonuses may help you retain your top talents, but the more full-time employees join the team, the more you need to set aside for benefits.
You do not want to hire too many full-timers if your business is not making enough money to cover their benefits on top of their take-home pay.
Pros of Hiring Part-Time Employees
With part-time employees, you have the ability to scale your business up or down. You can hire seasonal part-timers to help fill in the gaps during the busy months, for example.
More affordable than hiring someone full-time
Since part-timers work fewer hours than their full-time counterparts, you can expect to pay them less—and not just in terms of salary. With full-time employees, you also have to take care of social security contributions, healthcare, and other statutory benefits. Part-time employees are not necessarily entitled to these.
A wider pool of talents
Accepting part-timers gives your company access to more candidates, including those you may have originally overlooked. These days, many talented individuals prefer working different part-time jobs instead of working one full-time job. Use that as an opportunity to recruit skilled workers who, for whatever reason, are not in the market to work full-time.
Cons of Hiring Part-Time Employees
Not as invested in your company
One major disadvantage of having part-time employees is that they may lack commitment.
There’s a big chance that they just see their role in your company as a sideline and a way to earn additional income. Since most part-timers do not enjoy the same benefits as full-time workers, they may also feel less valued.
Quality of work may be inconsistent
If an individual is working multiple part-time jobs, their attention will be divided. They may also prioritize one job over another and just rush the work for their other responsibilities. This means they may not be able to produce the same quality of work as full-timers.
Whether you hire full-time employees or choose to stick to part-timers, both options have their own set of pros and cons.
You will need a bigger budget for full-time workers, but in turn, you can enjoy fewer interruptions and higher-quality output. Meanwhile, if you stick with part-timers, you may save money, but suffer from lower-caliber service. Ultimately, your final decision depends on what your business needs.
Need help deciding on the best step for your business? Want to make sure your company adheres to the Thai government’s requirements for full-time employees? Ande Aditya, a startup expert and business consultant Thailand can help. Schedule a consultation with him today by visiting Startup in Thailand!