MBA2281 Q&A Wednesday: Is it better to hire full time or part time employees?

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 5 April 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

For new and small businesses, every cent you spend on employee compensation counts. So are you getting more bang for your buck when you hire part-time, or full-time?

The answer — as is often the case in business — depends.

It’s Q&A Wednesday, and we’re helping a listener with a growing business spend his payroll dollars wisely. They know they need to build a team in order to reach the next level, but the budget requires some tough choices. Where’s the most value for money?

Hint: it has more to do with how the employee works than how much.

Learn what factors you should consider when choosing between full and part-time hires. As a company that’s hired both — and had good and bad results both ways — we know what can go right (and wrong) with each.

Tune in, hear what’s worked for us, and make the choice that best serves your business. Click Play!

Transcript

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0:00.0	Heyo!
0:10.6	Welcome to the $100 MBA show, the place to be to build a business you want every single day with our daily 10 minute business lessons for the real world.
0:18.0	I'm your host, your coach, your teacher Omar at home.
0:21.0	I'm also the co-founder of Webinar Ninja, an independent software company
0:24.9	I start with my co-founder back in 2014.
0:27.8	In today's episode is Q&A Wednesday. On Q&A Wednesdays we answer a question from one of you, one of our listeners.
0:34.0	If you had a question you want to ask, go ahead and email me over at oomar at 100MBA.
0:39.5	Today's question is from Paul and Paul asks, hey omar, I have a budget to make some hires.
0:45.0	I can either hire three or four part-time hires
0:48.0	or one or two full-time hires.
0:51.0	My business is scaling up and I want to meet demand, but I'm not sure if it's better to make part-time hires or full-time hires.
0:57.0	On one side, I can hire several people to do different things with a part-time hire, but full-time hires seem to be more
1:03.7	committed. I would love your advice on this topic. Thanks so much for everything you
1:07.4	do. Paul, thanks so much for the question. I really like this one because
1:12.4	every business owner is going to have to make this choice,
1:14.8	especially in the beginning and as they start scaling their business.
1:18.2	I've made this choice several times.
1:20.5	I still make this choice.
1:22.3	And the points you bring up are valid but I'm going to
1:25.4	offer a different way to look at this a different way to evaluate which choice you
1:29.1	should make it has less to do with the pros and cons and more to do with what you're going to get in return.
1:34.7	So let's get into it.
	...

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