51. Should Your Assistant Be An Independent Contractor Or An Employee? with Paige Griffith Esq.
Whether you're considering bringing on an independent contractor (IC) or hiring an employee, it's important to understand the differences between the two and make the right choice for your travel business. This episode explores the key aspects of categorizing your new assistant and provides insights from Paige Griffith Esq., an attorney and entrepreneur who specializes in helping business owners navigate the legal aspects of hiring.
Paige sheds light on the considerations that every business owner should be aware of when deciding between an IC and employee. Learn the differences between the two in terms of flexibility, control, tax implications, ability to part ways, and cost implications. Also, learn the importance of setting up processes and contracts to protect both parties, as well as tips for successful hiring and team management.
About Paige Griffith:
In her first year of law school, Paige decided to add a photography business to her already demanding schedule. She immediately fell in love with entrepreneurship and the thrill of building her own dream. After connecting with more creatives, she quickly became attuned to their legal uncertainties and founded The Legal Paige as a solution to the confusion that comes with building a legally legit business. As both a lawyer and a small business owner, Paige understands the challenges and dreams you face. Whether sheā€™s speaking at conferences, guest experting in Masterminds, or recording podcast episodes, sheā€™s keenly aware of the client issues that keep you up at night and the big goals you have to scale a business (while maintaining your peace-of-mind). Oftentimes legal problems can feel impossible to solve and it brings her great joy to offer simple solutions that help you rest assured in your business.
Travel industry agreement templates
Independent contractor agreement template
Today we will cover:
- (01:12) Paige shares her background and why she started The Legal Paige
- (09:35) Benefits of providing free educational content
- (15:00) Differences between hiring an independent contractor and an employee
- (21:25) Should every contractor be their own legal entity?
- (27:00) Considerations for travel advisors in hiring contractors
- (34:45) Financial preparation for paying employee salaries
- (36:40) Performance evaluations and feedback for contractors and employees
- (39:20) Importance of having processes and SOPs in place for contractors
- (46:50) The generational shift in employee boundaries and expectations
- (49:20) Costs associated with hiring employees and contractors
- (56:25) Hiring tips: hire slowly, fire fast
- (58:10) Paying for probationary periods and test projects
- (59:25) Removing access and permissions before firing someone
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