Contracting vs. Hiring In-House For Your Data Project
by Jessica Dugas, on December 13, 2016
When you have a new technical project in your company that requires added help, it can be difficult to decide whether or not to hire that help in-house or through a vendor. There are many factors you must consider when making this decision, including length of project, skills needed and cost.
Benefits of Contracting
Save On Payroll & Employee Benefits: When you hire in-house, you not only have to pay your employee for his/her work, you also have to provide him/her with benefits, such as healthcare, which can be very expensive. When you contract, you only pay for the project.
Access To Specific Skill Sets: Many companies, espcially small companies, can't afford to hire someone with only one specific skill set. Even if you can afford it, it may not be efficient if the specific skill isn't need very often. Contracting allows you to hire highly specialized skills for extremely less then hiring in-house.
Eliminate Tool Investments: Any tools needed for a project are usually provided by the outsource vendor, that you would otherwise have to purchase if you hired in-house.
Benefits of Hiring In-House
Easy Communication: One of the biggest benefit of hiring in-house is the communication level. In-house employees are usually in the same office, and this makes it much easier to communicate with them. However, some vendors will work on your project onsite, which can eliminate the communication issue.
Quicker Remediation: Vendors have other clients, which means you're not always the priority, so if there is a problem it will likely be solved much quicker by an in-house hire. However, if a vendor assigns their employees to only one or two projects at a time, then this shouldn't be an issue.
Cost Control: Unless you can find a vendor who will work with you and your budget, hiring in-house will allow employers to have much more control of costs that come along with your project.
Still not sure which option is right for you? Check out our infographic and decide once and for all!