{"id":44708,"date":"2022-08-12T11:15:13","date_gmt":"2022-08-12T15:15:13","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=44708"},"modified":"2022-08-12T11:15:39","modified_gmt":"2022-08-12T15:15:39","slug":"full-time-vs-part-time-whats-best-for-your-business","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/full-time-vs-part-time-whats-best-for-your-business\/","title":{"rendered":"Full-time vs. Part-time: What’s Best for Your Business?"},"content":{"rendered":"

\"Full-time<\/p>\n

When you\u2019re running a business, it can be a tough call whether to staff your company with full-time folks, part-time people, or a mixture of both. There are definitely pros and cons to each type of employee. Full-timers can provide stability, while part-time workers offer flexibility\u2014both equally important things to consider for your business. So, what\u2019s best for you?<\/p>\n

Full-time, Pros and Cons<\/strong> <\/strong><\/p>\n

According to the IRS website<\/a>, full-time employees work at least 30 hours per week, or 130 hours a month. Many employers, however, will say that providing 32-40 hours work\/week is the standard amount for someone to be considered full-time.<\/p>\n

Full-time folks offer the benefit of consistency \u2013 in scheduling, individual productivity, and cross-team collaboration. These workers also enjoy the sense of community that comes with being a full-time staff member; they\u2019re more engaged with your company and feel as though they really have a voice.<\/p>\n

In terms of downsides, one thing to consider when weighing your options is how overtime and benefits come in to play with full-time employees. Full-time employees are generally eligible for paid vacation time, holidays, 401k plans, etc. These are great options for employees and things jobseekers are looking for. But, if your business is not equipped to offer those types of perks, then hiring folks full-time might not be the most cost-effective route to embark upon.<\/p>\n

There is also the matter of insurance benefits\u2014specifically the Affordable Care Act (ACA), which has specific requirements for offering benefits to employees who work at least 30 hours\/week. For more information on the ACA, visit Healthcare.gov<\/a>.<\/p>\n

Part-time, Pros and Cons<\/strong><\/p>\n

Part-time employees, typically defined as those working less than what your business considers full-time, are certainly less expensive in the near-term. There\u2019s no need to consider salaries or health benefits (more on that later), plus you\u2019re easily able to adjust these schedules based on business traffic and demand. And if you need more help one day, you can call in an extra shift. Part-time workers also enjoy flexibility themselves; they likely choose to be part-time because of other jobs, school commitments, or family obligations.<\/p>\n

On the flip side, it can be tough to keep part-timers around when your scheduling practices are inconsistent\u2014some folks might need steady hours because they work a second job or need to be home when school lets out, and part-time work is attractive to employers because it doesn\u2019t<\/em> demand consistency. On the flip side, it\u2019s consistency that helps workers learn how to do their job well. Having a staff that works sporadically could lead to potential inefficiency.<\/p>\n

We mentioned health benefits, and with that there is a potential catch\u2026 you may be required to provide medical insurance benefits to your part-time employees. There is an excellent piece<\/a> regarding the legal implications of the ACA for part-time employees over at SHRM.org<\/a>.<\/p>\n

From hiring best practices to spotting employee fraud<\/a>, the Financial Pantry <\/a>covers everything you need to run a successful small business. We post content on a regular basis, so be sure to stop by and see what\u2019s new! And if you\u2019re in the market for a small business loan or line of credit<\/a>, we\u2019ve got your back. You can read all about<\/a> our decades of financing experience on our website, ARF Financial<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

When you\u2019re running a business, it can be a tough…<\/p>\n","protected":false},"author":5,"featured_media":44709,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[111,128],"tags":[398,402,400,399,443,386,535,220,213,944,943,345,116,173,536,117,597,594,516,401,224,222,172,226,142],"class_list":{"0":"post-44708","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-financing","8":"category-day-to-day-business-operations","9":"tag-affordable-business-loans","10":"tag-affordable-small-business-growth","11":"tag-business-expansion","12":"tag-business-growth","13":"tag-business-line-of-credit","14":"tag-business-loans","15":"tag-equipment-leasing","16":"tag-flex-pay-loans","17":"tag-line-of-credit","18":"tag-marketing","19":"tag-operations","20":"tag-restaurant-expansion","21":"tag-restaurant-financing","22":"tag-restaurant-funding","23":"tag-restaurant-leasing","24":"tag-restaurant-loans","25":"tag-restaurant-reopening","26":"tag-restaurant-reopneing","27":"tag-restaurant-trends","28":"tag-small-business-expansion","29":"tag-small-business-financing","30":"tag-small-business-funding","31":"tag-small-business-growth","32":"tag-small-business-loans","33":"tag-working-capital"},"acf":[],"yoast_head":"\nFull-time vs. Part-time: What's Best for Your Business? - ARF Financial<\/title>\n<meta name=\"description\" content=\"Full-time vs. Part-time: What's Best for Your Business? 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