There are several ways a business owner can consider to cut costs. Some of these methods will lower basic operating costs, while others will allow for the most functionality of the workplace under the least amount of money. For business owners who want to get the most out of their money, the concept of considering full time workers to cut costs is a very plausible option. This method may seem like it would increase costs and decrease efficiency. Here are some considerations that show how full time workers do in fact cut costs, increase efficiency and offer a business owner viable options to get the most out of their money.
How Full-Time Workers Can Cut Costs
Many businesses may feel that hiring several part-time workers is the best way to cut costs. This may have been true a few years ago before Health Care Reform Act required businesses to supply individuals with differing levels of health care insurance depending on the hours they worked. In most cases a full-time worker working more than 40 hours a week would be the worker who would receive any type of health care benefits. However, under the new Health Care Reform Act part-time workers as well as full-time workers would be eligible for some form of medical insurance. This increases the cost of a business and increases the overall cost of any type of employment that the employer would be able to provide.
With the new health care reform act in the increasing costs of business production and operation having a full-time worker saves a larger amount of money than having several part-time workers. A part-time worker may only be able to work a 45 hour shift. This means that you may need several part-time workers in order to operate your business professionally. A smaller crew of full-time workers would cost less in employee wages, costs less in health care and would be able to maintain the office on a full-time basis.
Considerations of Full-Time Workers
There are several considerations to take into account beyond healthcare payments and employee wages. There are benefits that full-time workers can bring to the table but a part-time worker may not. For example, with the current economy on a decline a full-time worker is more likely to meet the job of requirements and guidelines for the business. For example a full-time worker is not looking for another job to supplement their income so long as the job pays enough. For a business that wants to maintain low-cost it is better to pay a little more an hour to ensure that the full-time worker stays on board than it is to pay less an hour and have the possibility of the full-time worker needing others to supplement income.
Another consideration of full-time workers is that the workers generally are more skilled in the area they are hired in. For example, a part-time worker in a clerical position may only have part-time background or no background at all while a full-time worker may have some sort of management or HR background that can be brought to the table.
Overall the considerations for hiring full-time workers over part-time workers to cut costs is something that should be considered by each business in regards to new employment trends.