Companies sometimes hire independent contractors who are not full-time employees. This work arrangement provides flexibility for employers looking to hire workers only for projects with specific start and end dates. The contractors also have flexibility to choose which projects they want to take. Independent contractors are self-employed, may work on a project-to-project basis, and may be employed by more than one company or client.
Because employers have significantly more obligations to their full-time employees than to independent contractors, it is important to identify the correct status of each person compensated by an organization.
The following infographic illustrates the pros and cons of hiring an independent contractor.
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