I recently came across a new concept for what it is that I do – Employee Leasing. I think most people can relate to this term; if not, let me explain.
I work as a contractor providing specialized services and administrative support to businesses who have work that needs to be done. I share the client’s goals and succeed when they succeed. What are a few of the main benefits of leasing an employee versus hiring someone as a permanent part of your staff?
When you lease an employee, you are not responsible for the additional costs associated with a salaried employee, such as paid vacation, paid sick leave and personal days. Since we work “virtually”, you save money on overhead costs such as office space, computers and furniture. Don’t forget that leased employees are responsible for their own taxes and retirement savings plans. These costs combined can sometimes double the hourly rate you pay a permanent employee.
A leased employee provides services on an as-needed basis. If your business experiences a temporary increase in its workload, lease an employee for this time period instead of hiring and then firing someone or over-working your current staff. The great thing about leasing an employee is that we work when we’re needed and you don’t pay for our coffee breaks! Perhaps you have a corporate event that occurs on a quarterly basis – a leased employee only works when there is work needed to be done.
No loss of time
Inefficiencies in productivity are a major problem for employers. Many employees are required to be at the office for eight hours a day; whether there is work to be done or not. This often leads to time spent off-task while the employee surfs the Internet or socializes with other employees. A leased employee works on the project assigned with their full attention without the chance of a co-worker’s interruption and oftentimes provides the client with a detailed timesheet.
Can you think of an organization who wants to save time and money by leasing an employee? Know of a new business owner who doesn’t have time to focus on their business because they’re bogged down by the other “stuff”? Help them out by sharing this information with them.