They conduct tax compliance processes on behalf of the hired employee. 15% of the U.S.’ highest-paying work opportunities are remote, which is why many companies are beginning to look into hiring remote candidates for their job openings. Remote hiring is rife with business opportunities—both for the business and the worker. For the former, they can expand their search and access top talent from other parts of the world. And for the latter, they can enjoy a more seamless work and life balance, free of commutes to the office. As a nurse practitioner, you are a valuable asset to any organization.
If your company just took on a big project that requires more help than you have access to, hiring contractors is a quick way to get the people you need to finish the job. When the job’s done, you and the contractors can part ways until you need their help again. Companies that need to hire talent with specialized skills that are not available in-house may opt to employ individual contractors instead of employees.
Because they are hired as full-time employees, they also aren’t typically allowed to look for other sources of income. And even if they are allowed by their employers, it’s challenging to manage a side hustle with a fixed schedule. A remote worker can be onboarded into your company as an individual contractor or an employee, among other setups. While they both serve the same purpose of working for your company and fulfilling their given roles, how they do the job can have significant differences.
There’s little to no oversight in these types of relationships as the contractor-client relationship is more even when compared to employer-employee. For those who like to create their schedule and don’t like to be micromanaged, it’s easy to see how this kind of independence is attractive. Gone are any mandatory training courses, meetings, or set hours unless explicitly stated in their contract.
Flexibility and Autonomy: The Ultimate Freedom
Conflict resolution in the workplace can be broken down into steps to simplify the process. By doing so, HR and managers can ensure more effective communication and a more effective conflict resolution process. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This surge can be attributed to the rise of remote work in the wake of COVID, as location independence has become highly sought and valued for workers. IntelyCare education development nurse and writer Diana Campion, MSN, APRN, ANP-C, contributed to the writing and research for this article.
These costs include communication delays, rework due to quality issues, and legal considerations. Contractors and/or recruiting firms may also have additional charges not initially disclosed, such as fees for urgent requests, extra hours, or specific deliverables. Using contractors allows businesses to quickly scale operations without the long-term commitment of hiring employees. For example, if you need additional support during a busy season, you can hire temporary contractors to handle the increased workload without the need for permanent hires. Small businesses may not always have access to the specialized skills they need within their local talent pool. This limitation can result in skill gaps, making it challenging to complete complex or technical tasks in-house.
When being offered a job as an independent contractor and receiving a contract to sign, it is wise to have the contract reviewed by a trained lawyer to handle these types of things. This way, the NP can be sure that the contract is a binding legal document that will fundamentally benefit the NP and establish the independent contractor’s role. Lacking the legal protections granted to full-time employees, contractors might encounter difficulties in disputes with clients or companies. Issues like late payments, contract breaches, or disagreements may require legal intervention, putting the contractor at a disadvantage. Everyone has their own method, but organization is key when working as an independent contractor. You need to make sure to keep track of billing, treatment session notes, and expenses throughout your time as an independent contractor.
Finding and hiring the right people can be challenging whether you have a small business or a large enterprise and whether you’re looking for independent contractors or full-time employees. It’s just as time-consuming to find the right employer and commit yourself to do great work. Hiring independent contractors is a sensitive issue, especially if you don’t have a legal team to draft your contracts and ensure full compliance. Unlike employees, independent contractors can’t sue you for wrongful termination.
No Job Security
- They may do the same things daily or otherwise take on new additional projects occasionally.
- This focus on core business activities can drive long-term success and profitability.
- Independent contractor nurses often have the freedom to work in various locations, including different states or even internationally, depending on licensing requirements.
- Organizations must also be mindful of the legal implications of hiring W2 nurses.
An employee has a direct manager to ensure they complete assignments or delegate tasks, preventing missed deadlines. You’ll also have less control over the way contractors do their work and its quality, which could hurt your brand. When you hire a contractor, it’s temporary, which causes instability in the employment at your company. An employee base that swells and shrinks regularly can be difficult to manage and cause stress for full-time employees.
- This employment contract provides details on the specifics of the project and expectations between the two parties.
- Within the risk, however, lies ample opportunity for reward in independent contract work.
- IntelyCare education development nurse and writer Diana Campion, MSN, APRN, ANP-C, contributed to the writing and research for this article.
- You need to rely on asynchronous communication and base your business relationship on trust.
- A facility attracts and retains top talent when they provide their nurses with the security of regular wages, employee benefits, and investment in their professional growth.
Rob Boyle, Marketing Operations Director at Airswift, argues that flexibility is a key benefit of contract employees. Ontop simplifies global hiring with transparent pricing and full compliance support. Whether you’re paying international contractors or building a remote team with EOR, our platform ensures fast, secure, and scalable payroll in 150+ countries. Some can see becoming an independent contractor as a gamble, and traditional employment can be seen as the more secure option overall. While working alone and on a per-project basis might work for some, the independent contractor system is inherently unstable compared to regular employment.
Being able to step back when needed and prioritize personal time is a key reason many nurses choose this career path. Specialization can also lead to higher pay rates and more job opportunities as you establish a reputation in a specific area of nursing. “Many contractors work from home or their own office, so you don’t have to provide them with a workspace or equipment.” Here are the individual contractor vs. employee pros and cons to help you make an informed decision. If the NP has ever wondered if a nurse practitioner will make as much as a physician, you may get the answers you desire below. Salary differences are not often published, so it is good to view some estimates.
This can quickly snowball and catch new contractors by surprise when they owe a large sum to the government at the end of the year. Having reliable and dedicated staff improves patient continuity and quality of care. Permanent staff providing routine care to patients are able to detect and act upon changes quickly.
In the same way, U.S. companies should also consider their own goals and project priorities when it comes to hiring either individual contractors or employees. They may have specific needs that one type of remote worker can address more than the other, which should be weighed pros and cons of being or hiring an independent contractor heavily in their decision-making. The nurse practitioner can demand more money when working as an independent contractor. The employer doesn’t have to shoulder the tax burden, so they should be able to pay the NP much more. Since the NP also won’t receive any benefits as a 1099 contractor, the NP’s pay should compensate for that.