In today's episode, Shannon delves into a crucial topic for any business owner: hiring contractors versus employees. She shares her personal journey of expanding her team from contractors to W2 employees and breaks down the pros and cons of each option. Whether listeners are planning to hire in the near future or are just curious about the differences, this episode provides valuable insights to help make informed decisions. So, if listeners are ready to discover the best hiring strategy for their businesses, they should stay tuned! What you'll hear in this episode: 03:48 Ensure proper classification of employees and contractors.

06:41 Contractor relationships: low risk, easy exit, flexible.

11:36 Hire slowly and intentionally to avoid costs.

13:15 Employees crucial for sustainable high-value businesses. If you like this episode, check out: The Silent Business Killer

Authentic Hiring: Showcase Your Values

Creative Benefits You Can Offer Employees Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-sessions Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Hiring Contractors vs. Employees - Pros and Cons