One of the most important factors when hiring employees is determining how many hours you’ll need them to work for your business. According to the U.S Bureau of Labor Statistics, anyone who works for more than 35 hours a week at a company is a full-time employee, while anyone who works fewer than 35 hours is a part-time employee. Despite this, employers are generally free to determine the number of hours they consider full-time or part-time for their business. This all boils down to what the employer wants for his business.
Definition of Part-Time and Full-Time Employees
According to the Fair Labour Standards Act (FLSA), there is no definition for part-time and full-time employees because the employer determines it. However, part-time and full-time employees are described below:
- Part-time employees
They are suitable for businesses that use variable shift-based schedules to adapt to consumer demand or business owners who require a modest quantity of assistance for particular jobs.
However, part-timers could be bad for businesses that require devoted staff members who consistently deliver quality work. Similarly, using part-time employees to help full-time employees who are spending long hours on specialized jobs or to fill up skill gaps may prove to be a significant benefit.
- Full-time Employees
Hiring a full-time employee is a great option when you need loyalty because full-time employees often commit to one job and make your business a significant priority. However, there are situations when maintaining full-time employees may be too expensive for a developing business.
Additionally, full-time employees are more likely to follow instructions and give their all to their work. In contrast, many part-time employees utilize their employment to support themselves while working at entry level jobs in their chosen fields or pay their way through school.
What are the Pros and Cons of Part-time Employees
- Increased adaptability
You can precisely staff your firm in accordance with its needs and handle ups and downs with the help of part-time workers. It isn’t always wise for businesses in unstable industries to increase their full-time staff during peak periods if they don’t have enough work to complete during slow periods.
Even worse, you could let those same employees go to prevent this bother and provide additional support for your full-time employees; you can hire temporary part-time employees to help with the workload. Long-term part-timers can replace shifts that full-timers cannot perform, and part-timers can also cover for colleagues going on maternity or sick leave.
- Seasonal assistance
Situations frequently arise where you want specialized knowledge for a brief period. Consider a scenario where your business needs additional cashiers to process payments from clients during the busiest Christmas shopping period or accountants to manage your books during tax season. When you recruit part-time workers, you can add personnel with the necessary knowledge at any moment. You can part ways after the project or busy period is over.
- Affordable solution
Compared to full-time employees, hiring part-timers can save a lot of money, especially with the rising cost of health benefits and other benefits attached to businesses with full-time employees.
- Lower engagement
Since part-timers spend less time at work, they might not be as driven to contribute to the workplace culture or work hard to meet company objectives.
- Less commitment
Once more, because there is less involvement and dedication on both ends, part-timers could feel less obligated to meet the demands of their employers.
Pros and Cons of Full-time Employees
- Scheduling meetings and tasks:
This can be made simpler when you know that everyone on your crew will be working their routine. Of course, this might not be the case if you have full-time workers who work remotely or in different time zones, but generally, it makes work easier in the business to know who is doing what.
- Increased loyalty
Employers frequently believe that full-time employees are more loyal to their employers and less likely to switch jobs than independent contractors or part-timers. Even while this might not be the case, the perception nonetheless exists.
The opposite side of hiring full-time employees is that it is expensive. One full-time employee naturally costs more than one part-time employee. 40 hours a week costs more than 20 hours a week, even if you do not provide full-time employee benefits (which many businesses are forced to provide by law, further increasing the costs). Hiring full-time employees for an unstable or low-income business can be a shipwreck because the maintenance cost of full-time employees is high.
Part-time vs. full-Time: Which Works Best?
This depends on the nature of your business and company. If you’re unsure of the number of hours per week a job will require, it can be best to start with temporary or part-time employees as they put in fewer hours and are less expensive. It should be simpler to determine whether you require someone for 40 hours or more per week after you have an idea of the output for the part-time positions in your organization.
Many business owners believe that full-time employment entails paying for expensive benefits like health insurance, but this is only true for organizations with 50 or more employees. You don’t need to do that if your company is smaller than that. Therefore, to know whether to opt for a part-timer or a full-timer, consider the pros and cons and weigh them with your needs and expectations.
Both full-time and part-time employees have their pros and cons. In choosing which category to hire, your core values and goals are fundamental. Thus, consider your options carefully before deciding what works best for you.