Ready To Hire? You Have Many Employee Options

JOYCE M. ROSENBERG

NEW YORK (AP) — Even though the economy is still suffering and many small businesses won't be hiring for some time, some companies are thinking about taking on more workers. The question for many is, what kind?

Some business owners will hire full-time or part-time employees, while others will consider going the independent contractor route. Temps are another option.

Each kind of worker has its pros and cons. With an employee who's on the payroll, for example, an owner is responsible for salary, employment taxes and insurance that is required by law, such as workers compensation. At the same time, that employee may have more of a commitment to the company than other types of workers.

Here are the kinds of workers an employer should consider:

EMPLOYEES

An owner has the greatest responsibility for employees who are given staff positions. There are many federal and state labor laws to be aware of, and expenses like employment taxes — Social Security and Medicare — and workers compensation insurance to be paid. If the employee is laid off, the company ends up paying for some of the unemployment benefits.