5 Benefits to Hiring Out-of-House vs. In-House
When it comes to hiring, there are two schools of thought: in house and outsourcing.
When it comes to hiring, there are two schools of thought: in house and outsourcing. Depending on your business needs and budget, both options can be a great choice. In this blog post we will discuss the pros and cons of each option so you can make an informed decision about which one is best for your company.
3 Pros of In House Hiring:
- Being able to offer a salary and room for growth can make in-house hires a safer bet when it comes to maintaining a long-term, knowledgeable, and consistent company voice.
- Hiring employees in house typically increases the likelihood that intellectual property will stay confidential.
- Technical solutions may be resolved faster. In-house talent can direct all attention to a problem that must be fixed quickly, whereas a freelancer may finish a task based on prior and exterior commitments using a first come, first served system.
3 Cons of In House Hiring:
- Finding, interviewing and vetting can take time, and if an employee quits, the process begins again. Onboarding new employees, including training, can be stressful and time consuming.
- Committing to strictly in house positions can be a significant investment for a company.
- Top employees may expect medical and dental benefits, and most likely a 401(k) plan match. Remember these costs can get quite high, whereas you just pay a flat rate to a freelancer.
3 Pros of Outsourcing:
- Outsourcing can be ideal for short-term projects, in which talent is only needed for the completion of a one-off project.
- Most freelancers are pros at a very specific discipline and require far less project management once they become familiar with the general process.
- It can take much less time to find talent, due to agencies like Upwork and Freelancer. This means projects may get completed quicker.
3 Cons Of Outsourcing:
- Communication gaps are inevitable. Freelancers work in different time zones and have varying schedules. Be wary of some of the more creative talents, like writers or developers. The best usually take the most time and you likely are not their only client.
- Some freelancers can increase the length of a project depending on other higher paying projects. The higher-paying jobs will most likely be the ones that are completed first.
- Intellectual property may have the risk of being exposed.
It may be hard to have the best of all worlds, but this list of pros and cons may help you make a more informed decision on what will work best for your company.