Each business is unique with individual and changing needs. Each company needs to decide which types of employees will best meet the needs of the organization. When considering the schedules of your employees, you may want to weigh the pros and cons of full-time versus part-time employees.
The interesting thing about full-time and part-time is that there is no set definition for either. At some companies, an employee may need to be scheduled for 40 hours per week to be considered full-time, while at another company, an employee may need to work at least 35 hours per week. Generally, full-time employees are employees that work enough hours to qualify for all benefits. Make sure you understand the plan rules for your employee benefits and consider that when defining full-time and part-time for your company. For example, companies that participate on the Helpside Medical Plan should consider that employees must work at least 30 hours a week to qualify for the medical plan. As you consider what types of employees are best for your company, think about these pros and cons of hiring full-time employees and part-time employees:
Pros of Full-Time Employees
- Consistency: Employing full-time employees creates consistency in schedules and in work quality.
- Loyalty: Full-time employees generally feel loyalty to the company they work for and aren’t as likely as part-time employees to have a second job pulling away their time.
- Long-Term: Planning out projects and deadlines may be easier when you have full-time employees.
Cons of Full-Time Employees
- Stress: Full-time employees have to deal with a lot of work-related stress and may get burnt out because of it.
- Costs: Full-time employees are entitled to benefits and providing those benefits can cost employers a lot. However, PEOs can help reduce this cost to benefits.
- Over-Staffing: Employing full-time employees can lead to over-staffing in times of dropped productivity.
Pros of Part-Time Employees
- Lower Costs: Employing part-time employees is cheaper without the additional salary and benefits costs.
- Flexibility: Part-time employees can be scheduled flexibly to accommodate busy and slow seasons.
- Work-Life Balance: Part-time employees can attain work-life balance easier which can make it harder for them to get burnt out.
Cons of Part-Time Employees
- Inconsistent: The inconsistent scheduling can make it hard to retain employees that need consistent hours.
- Errors: Because part-time employees work less, they may be more likely to make small errors while working.
- Competition: Many part-time employees get second jobs to meet expenses. This can put you in competition with another company when trying to schedule shifts.
Hiring full-time employees and part-time employees has its advantages and disadvantages. You may decide to employ full-time employees, part-time employees, or a mix of both to fully access the advantages of both groups. If you have questions about pay or benefits for full-time or part-time employees, reach out to Helpside at email@example.com.