The real cost of freelancers vs. full-time employees


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How much does hiring a new employee really cost?

We all know some of the benefits of having full-time employees. They learn the business well over time, they become part of a team and contribute to the environment and culture of a company. Some full-time employees really grow into their roles, and they continue to excel as more work and responsibility are assigned to them.

Finding and hiring the right full-time employee can be a great experience. Company culture is important, and if you are truly trying to build something that lasts having a core team of full-time employees is key. However, even if that is true, hiring freelancers is an important and, essential tool for the efficacy and long-term health of your business. Rather than take a look at this from a qualitative standpoint which we have done previously here and here, I will perform a quantitative analysis on the comprehensive costs of hiring a new full-time employee versus the true costs of working with a freelancer and compare the two. Ultimately, a blend of full-time employees and freelancers leaves your business more cost-efficient and is a very logical approach for a company’s long-term health.