Why Contractors Are Actually 4x More Loyal Than Full-Time Employees

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 26 February 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2381, we discuss why we think that contractors are actually four times more loyal than full-time employees. There are various pros and cons when it comes to hiring a contractor over a “full-timer” and vice versa. More often than not, it depends not only on your budget but what you’re looking for, and how the person you hire will ultimately fit the needs of your organization. Join us as we engage in the age-old contract position versus full-time employee debate and share our belief that hiring a contractor is often the best choice! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: Why Contractors Are Actually 4x More Loyal Than Full-Time Employees. [00:33] Pros and cons of contractors versus full-timers, from Eric’s perspective. [01:11] Neil shares his experience of working with contractors in the US and internationally. [01:55] An example of a super loyal contracted designer that both Neil and Eric work with. [02:31] Unpacking the cost differences between hiring a contractor versus an employee. [03:02] Talent retention and some of the reasons that employees leave. [03:58] Why there’s nothing inherently wrong with “churn” or employee turnover. [04:24] That’s it for today! Don’t forget to rate, review and subscribe! [04:31] Go to https://marketingschool.io/live to learn more! Links Mentioned in Today’s Episode: Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.5	Let's start leveling up your marketing knowledge with
0:14.0	your instructors Neil Patel and Eric Sue.
0:18.6	Today we are going to talk about why contractors are actually four times more loyal than full-time in place.
0:26.2	So I'll start this one off because I created a title and the fact that Neil didn't change the title
0:30.6	means he might agree with me.
0:31.8	So I'll share some data here. I was talking with a couple
0:34.8	of my team members earlier in the week. I was like you know what's interesting? Full-timers if you're
0:39.0	lucky they might stay two, three, four years or so but the contractors have been with me for like eight, nine years.
0:45.6	And they've kind of just been like stable.
0:47.8	Like no complaints, no like I need this, I need that.
0:50.7	It's just like, you know, gradual pay bumps and all that but I've just
0:53.9	noticed that they've been the most loyal and they don't complain about anything and
0:56.5	they just get things done and that's just been our relationship so Neil what have you seen?
1:01.3	I don't know if they're four times more loyal.
1:03.6	So let me give the numbers here. So they, again, actually that's the math.
1:06.6	Two, three, four years or whatever. If they say eight, nine,
1:09.2	that's like it goes up to four times.
1:11.9	Yeah, so I don't have as much experience to you because our
1:15.4	contractors are like employees in just different countries, right? So if like we have
1:20.7	a contractor in Argentina
1:22.6	is because they just want to work full time
	...

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