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Monday, May 7, 2012

Part time vs. Full time employees

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A full time employee is typically any employee who works for 40 hours or more weekly. On the other hand, a part time employee does not have such a narrowly defined schedule. A part time employee’s schedule can range anywhere from as little as a couple of hours per week to hours per week. The amount of hours is typically at the sole discretion of the employer, and is of course agreed to by the employee when accepting the position. However, when an employee has bargaining power, they are more likely to get the hours that they want. Part time work is both beneficial to the employer and the employee in different aspects. What benefits one party, will tend to not benefit the other.


FULL TIME PROS


· A full time position means a steady set of hours per week, which gives an employee a sense of stability, both on and off.


· An employee will get, and the employer will give whatever benefits the company offers. Most companies offer a variety of benefits such as Medical Insurance, 401K, Educational Assistance, daycare, fitness reimbursements, stock options, etc…


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· If a person in a full time position works over 40 hours, they will be paid overtime, which is time and a half, the regular hourly rate plus ½ more for each hour over 40.


· Salaried employees do not have any set of number of hours like employees who earn and hourly wage, but they will still get paid 40 hours even if they only work 0 hours a week.


FULL TIME CONS


· Employers can spend a good deal of time, money and benefits on a Full Time employee, and then discover this person is not right for the position or the employee will quit without notice. This is a sizable loss for the employer, which can be why many employers have gone to the general practice of hiring only Part Time employees.


· Employees can become settled in this position, not just in the workplace, but also as far as setting up their own time and money to fit their lifestyle. They come to depend on the money from this Full Time position just to pay their needs.


· Salaried employees do not have any set number of hours like employees who earn an hourly wage, so they will not get paid any overtime if they work over 40 hours.


· Full time employees are harder to get rid of because of all the different labor laws and regulations that protect workers.


PART TIME PROS


· In most cases, average wage rates for part time workers are significantly lower than average wage rates for full time workers.


· With several employees in the same position, employers will have more options in the scheduling of these employees, which will allow them flexibility, as the demands of the position reveal themselves.


· In some cases, employees are not totally dependent on one work position. If one does not work out for whatever reason(s), they will have a better chance to get a new position, and there are more Part Time Positions offered than Full Time so it will be easier to get one.


· Sometimes Part Time Positions let employees get a variety of experience in different industries/fields and their companies if they choose to do so.


· In some cases, part time employees can be students, or people who do not need to make a great deal of money. People who desire to do something worthwhile with some of their time, or people who only desire to supplement another income.


· For workers, part time positions may offer the chance of a better balance between working life and family responsibilities, training, leisure or civic activities.


· Part time workers are also much more likely to be in control of their own schedules and can decide what times they will work during the business day, for their own convenience. Of course this is with the employers approval.


· A part time employee has as much rights as a full time employee in terms of dismissal, contractual rights, pay, etc……


· There is the potential to get benefits as a part time employee, but it is of course at the sole discretion of the employer.


PART TIME CONS


· Employers will need to keep track of a greater number of employees, and sometimes, depending on the position, paying more than one person to work a position can be more costly than paying just one person Full Time.


· Employees will not be able to get benefits. But then, if they are able to work two, (or three), Part Time positions, they can afford to create and invest in a few benefits for themselves on their own.


· It is difficult for part time workers to get overtime rates. People working a part time can earn overtime after they have worked their hours plus however many more to make 40 hours, then be paid time and a half for each hour over 40.


· Part time workers feel they have less chance to advance than regular full time employees.


· Certain part-timers work on call, without any guaranteed minimum weekly or monthly number of hours and are thus in a particularly vulnerable situation.


· Co-workers of the part time employees can only conduct business with the part time employee while they are available. Not during the entire time they are working.


· Employers are not responsible for giving any benefits to part time workers, which can be a great saving for the company but a big loss for the employees.


· A person who is working part time may not be able to secure exact hours that they need or want, they may be at the mercy of the employer’s discretion.


In conclusion, it is easy to see that there are many different issues that must be evaluated when embarking on a contract with a company. Ultimately, an employee must be well aware of all the conditions that are stipulated in the contract, and must be in full agreement. The most important thing is to ensure that each party’s needs are met.





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