As an entrepreneur, You really need to hire employees for your company, but the bigger concern is you should hire them as Full-time or Part-time. What’s more, it’s your duty to comprehend the advantages/benefits of part-time and Full- time employees. Keep reading this article, you will learn about the benefits of Part-time vs Full-time Employees and decide which you wanna for.
To further we proceed you need to clear all the doubts regarding the benefits of Part-time vs Full-time Employees.
What is Part-time Employment?
In the workplace, a part-time worker is one who does not work full-time, that is, works less than the law establishes, which is a full-time workday.
To correctly understand what a part-time worker is, you have to understand what a full-time worker is. Full-time workers are those who have the maximum working day established by the legislator.
An example will better understand: if the legislation establishes that the maximum working day is 40 hours per week, full-time workers are those whose working day is 40 hours per week. And therefore, part-time workers are those whose working hours are less than 40 hours per week. In short, a worker whose part-time is 15 hours per week and one whose day is 30 hours per week can be a part-time worker.
At last, it’s dependent upon your employer to comprise how much a part-time employee can work. What’s more, managers ought to incorporate part-time employee rules and hours in their strategy.
Employees with part-time status may get a few advantages, as they took care of time. Notwithstanding, most employers offer a constrained amount of paid time off or different advantages to part-time employees.
Advantages of Part-time Employment:
- Flexibility in work – As an employee what do you like to prefer working in the morning or at the evening shifts? Part-time working is quite flexible and for an employee to choose whatever time they are suitable for work. Due to flexibility in work, it encourages lesser stress on an employer and they can work as per their priorities.
- Multitasking or combining multiple jobs in a day. If your part-time work does not consume your whole day or make you busy the whole day and in the meantime, you want to earn some extra income. However at a first glance it looks like an interesting idea, and why not? Having more than one job in a day enhances your transversal profile.
- Easier to study. While doing a part-time job, you can focus on your studies as well, and you don’t need to completely rely on your job, no doubt there are various online courses available but part-time jobs help to reduce extra stress and you are provided some extra time to study relaxed.
- Springboard to gain experience. Part-time jobs often do not offer much continuity or financial support. In any case, in most cases, they serve to gain experience and ease in the labour market.
- Saves time for yourself. One thing is clear: not everything in life has to do with work. And if we don’t disconnect, we will perform less during our business hours. Take advantage of your free time to enjoy the activities that you like. You will see how you get to work with more motivation!
- Reduces Cost on the Hiring process- HR processes become cost-effective, and even other perks are reduced.
Disadvantages of Part-time Employment:
- Most of the Employees are amateurs– Part-time jobs lure amateur employees who have a lack of knowledge on the domain and search these types of jobs for the sake of extra money.
- Low salary- It is obvious that if you work for less time, you won’t receive full pay or a high salary. It is up to you only, what you chose less salary or a prosperous and quality life.
- Inconsistency in projects and work – Due to flexible working hours, the projects which were assigned get delayed and less productive, even there no steady flow in working.
- Fewer unemployment benefits. – As compared to Full- time employment, you will be provided fewer perks & benefits but it is not always gonna happen if you are good at work and you showed consistency and commitment towards your work, it may be possible that you get all the benefits.
- Less chance of promotion. Normally, the managers of the company consider promoting full-time workers. The reason is very simple: if we spend more hours at work, we have more possibilities to perform various tasks and to acquire responsibilities.
What Do You Mean By Full-time Employment?
The United States Department of Labor does not define what is meant by the term “full-time work,” it limits itself to the Fair Labor Standards Act (FLSA), which suggests that the employer has the responsibility to clarify to the employee his responsibilities. However, the standard workweek is understood as a period of 40 hours in one week. Another interpretation of the definition of a full-time job is one that requires a minimum of 35 hours a week, depending on the employment situation.
Advantages of Full-time Employment:
- Leave with Pay benefits– In the event that you are a full-time employee, you will get more yearly leave and days off than part-timers, as taking care of time is normally determined dependent on the quantity of all total hours utilized. By having more days off you can go out for vacations, short breaks and can invest time when you are ill, without feeling excessively regretful.
- Medical Insurance- A great many people would state that perhaps the best benefit of full-day work is the company financed or company-paid insurance benefits. These insurance approaches incorporate things, for example, wellbeing, life, inability, or even demise with many companies offering family inclusion too.
- Fixed monthly salary- Your Boss or manager will give you a fixed payment a week after week or month to month premise. You should simply finish your assigned work and meet your day by day or week by week shares, be a decent employee, and toward the month’s end, you will get paid a particular measure of cash. Along these lines, you can plan and pay every one of your costs, set cash aside for other long term investments and have a sense of security that, regardless, you will have cash in your pocket for at any rate one more month.
- Fixed Work hours- When you are doing Full-time work, you will have a fixed timetable with explicit working hours. This implies you will have the option to design the remainder of your day as needs be without being uncertain of your work routine. Nobody will call you to change your working hours finally or change shifts. A few people would call this tedious, yet on the off chance that you need some soundness in your expert life, all day work can offer you this.
Disadvantages of Full-time Employment:
- Low overall career growth- Staying with one company can bring about professional stagnation. You become ok and used to with the compensation, the workload, and the work environment condition. You’re only glad to have a salaried job. You don’t think about other career opportunities and some other professions. Simultaneously, you may get monotonous in a similar daily practice. your employer, in the long run, may give you similar day by day targets making it a simple calendar to follow. In any case, you may wind up continually satisfying the requirements of your manager and that is it. This can keep you away from understanding the abilities and endowments you never realized you had.
- Boring Resume Profile- Having a similar activity for a long time can adversely influence your Resume profile. As referenced previously, companies sometimes search for a variety of encounters while thinking about a potential competitor. Since you’ve been working for a similar business for X measure of years, your resume profile gets dull and dry, lacking adaptability in abilities and administrations. An exhausting Resume profile may get you neglected by a rivalry that has changed involvement with their professional history. In the meantime, the way to having a top-level Resume Profile and an introductory letter is freeing yourself up to different occupations, regardless of whether they wind up being comparable or totally off-kilter from your calling of decision.
- Difficulty in Job Switching- Full-time work can make it difficult for you to get back ready for job switching. In the event that you haven’t searched for a job for quite a while, you may not realize where to start. As referenced previously, getting excessively content with where you are could prompt calamity; particularly on the off chance that you wind up laid off or terminated from your activity. Additionally, your employer might be an individual who attempts to hold you like a prisoner. They may give you rewards or compensations as an approach to keep you happy with the work. On the off chance that you’re on edge to perceive what else is out there, at that point don’t let your present place of employment keep you from extending your viewpoints. All-day business isn’t for everybody. Depending upon your necessities and current circumstance, it might hurt you or advantage you from multiple points of view. Since there are a few benefits and drawbacks, you have to ‘compare’ which are the most significant for you.
- Disrupts Work-life balance- With the Full time work your life balance will disrupt and you live your life as per your company schedule. You will become programmed with your monotonous work and life.
It is also to be noted that, Recently Due to COVID-19 Outbreak the Part-Time jobs will boost up because most of the people or employees are either locked down in their houses, Companies being shut down and they are asked to do work from home. Due to this pandemic, a huge economic crisis has emerged due to which many leading companies are laying off their highly salaried employees and hiring part-time employees to compensate and maintain their budget.