Everyone knows the old adage that says you have to spend money to make money. While this is true, it is also costly to own your own business in other ways. Employment lawyers in Nashville, TN know that for example, if an employee or a former employee sues you for discrimination or wrongful termination, or anything else, this will be expensive. You also may be paying for health insurance coverage and other benefits for your employees, which can add up. One thing that many employment lawyers in Nashville, TN are suggesting now is hiring independent contractors to work in your company.
There are many advantages to working with independent contractors, or freelancers, in your company. While many businesses think automatically that freelancing only benefits the freelancers themselves, this is simply not true. There are many cost advantages and other savings that you will experience as a result of hiring contractors to work within your business. If you are interested in saving money on health insurance costs, overtime costs, expenses, and office equipment, talk to employment lawyers in Nashville TN about the many benefits of hiring independent contractors.
As mentioned above, one of the primary advantages of working with freelancers as part of your team is that you will be protected from more lawsuits. Because freelancers work on a contractual basis, their contract may be terminated at any time for any reason. At the end of the contract term, you can choose to terminate the contract or sign on for another term, but whatever the decision is that has been made, you will be protected from employers who feel they were fired for unethical or illegal reasons.
Another great advantage to working with freelancers that you should discuss with employment lawyers in Nashville TN is the amount of money that you will save. Because they pay their own expenses and do not require office space, you can save on office equipment and supplies for the independent contractor as well as those things that you would have to pay for regular employees. Some of the other expenses that you can avoid by working with freelancers include health benefits, retirement matching, and the big ones—taxes. Freelancers pay their own taxes so you can save a lot of funds this way.