For the most part, full-time employment - being on the job at least 40 hours per week - is what the majority of people are looking for when they're out of a job. But as a business owner, you may be in a situation where it makes more sense to hire part-time. As with any decision, however, there are advantages and drawbacks. Here are a few of them that can help you decide if it's the right time to hire part-time assistance.
Advantages
Enhances flexibility
Business generation can ebb and flow. Sometimes customer traffic is bustling, and other times it's just busting. By hiring part-timers, you can more easily adjust staffing levels according to demand.
Incentivizes initiative
The most productive workers are those who are not only talented, but have goals. For example, in a recent poll of millennials, nearly 50 percent of respondents said what they earned was "extremely important" to them. However, they were even more motivated by opportunities for growth. Hiring part-time may inspire your employees to give it their all in the hopes they'll eventually be hired on a full-time basis.
Saves money
The Affordable Care Act changed a lot of things in the employment sector. Chief among them relates to businesses having to offer health insurance to their workers when they have 50 or more on staff. This mandate doesn't apply to part-timers. But be advised that Obamacare defines full-time employment as working an average of 30 hours each week or more.
Drawbacks
Less loyalty
If your employees know from the get-go that part-time is as far up the development ladder as they'll ascend, they may not be as committed to your business. So-called "job hopping" - where workers go from one position to the next - has become increasingly common. A recent poll from online employment search engine Careerbuilder found that 1 in 3 businesses expect workers to job-hop. In a survey done by Gallup, nearly 95 percent of millennials have switched employers to pursue a more attractive position.
Competing priorities
In order to make a full-time salary, part-time workers may have more than one position. Additionally, they may also have family responsibilities to attend to. We all have busy lives, but part-time employees often have other tasks that demand their attention. As a result, this could prevent them from going above and beyond the call of duty for your company.
Less 'one-on-one' time
Starting a new job is a learning process, with few "newbies" able to pick up precisely where the previous experienced worker left off. Employees need feedback to succeed, something that young workers want but rarely ask for, according to a recent Gallup survey. With part-time employees, it affords you with less time to get to know your workers and narrow down where their strengths and weaknesses lie.
There's no right or wrong answer to the wisdom of hiring part-time; it all depends on the situation and context. Inc. Magazine offers a few other noteworthy points on whether full-time or part-time is the best way to go.
