Hiring an employee is no longer the only option.
Any savvy business owner will recognise the need for help when establishing and growing their business, but hiring that first employee can feel like a massive (and very grown-up!) step.
In addition to a competitive base salary to ensure the role is attractive to the right calibre of applicant, other costs include advertising, taxes, training, pension, private medical, office setup, IT equipment, and management. Plug in those figures into Good Calculator
and you’ll soon discover that an employee with a base salary of £30,000 can quickly equate to costing a company nearly £70,000 in the first year.
According to this report by the Association of Independent Professionals and the Self Employed (IPSE), the UK has seen its freelance tribe increase by 43%, to around two million, over the last eight years alone. And often it’s the swing towards overall cost and risk reduction that sways the argument in the favour of the freelancer over the employee.
without the long-term cost of an employee.
A consultant can assist with project-based or ad-hoc tasks that do not have to be performed 9am until 5pm. Even if a freelancer’s hourly rate is higher than the full-time equivalent’s base salary, the support required may vary month to month, so the business owner only ever pays for the hours used or agrees on a project price in advance.
When a business identifies that a role can be performed remotely, it opens up the opportunity to talent without any geographical restriction.
The benefits here are two-fold.
1. There are huge savings in terms of desk space and IT equipment, as the business owner is no longer responsible for purchasing all the necessary hardware and software for the person to perform their role.
2. The vacancy can be filled by anyone with the right skills and an internet connection. Not limiting the search to those solely within a commutable distance means there will be far more suitable candidates who meet the selection criteria and it’ll be a case of cherry picking the best fit.
Freelancers are experts in their own field and working with one allows businesses to tap into that skill set without the employee price tag.
They also run their own businesses so wear many other hats themselves. Their additional value may be in the form of the introductions they can facilitate or their expertise on subject areas outside their perceived remit.
The success of my own business relies on my clients receiving excellent levels of service. It may be that employees’ motivation wanes over time, whereas I know my clients could easily take their business elsewhere, so I provide consistently reliable executive assistance every time.
If you recognise the need for freelance PA support, please click here
to arrange a complimentary consultation.