When considering this debate, the first thing to note is that there isn’t a right or wrong answer (sorry!). If you clicked onto this article looking for a definitive answer, know that it differs from one business to the next. These days, there is a market for both solutions, so the one you choose depends on your circumstances.
Hiring a Paraplanner
Having a paraplanner in the business is a huge advantage because they belong to the team. Whenever you have a task for them, they’re sitting in the office (or at home in this modern working environment). Either way, they’re ready to help. Many businesses choose a young paraplanner and almost mould them to their needs. Eventually, they have a long-term career in the business.
However, the problem for many businesses is that they just don’t require a full-time paraplanner. After performing the odd task, the professional has very little to do again. As you can imagine, this is costly for a small business. Those with limited budgets cannot afford to employ somebody who isn’t needed constantly.
It’s easy to think of the salary, but many other costs go with employing a paraplanner. For example, you’ve got the initial recruitment costs. This includes posting ads online or paying for a headhunter (even posting online costs resources). From here, you need to compile resources for applicants, interview several professionals (potentially through multiple stages), hire the chosen employee, induct them into the business, and offer training.
What happens if this person decides to leave just a few weeks later? You must go through the process all over again. This article isn’t supposed to scare people away from the idea of hiring a paraplanner, but you need to consider whether it’s the right move for the future of the business.
Contracting the Work
The good news is that external, third-party services exist for situations where hiring an in-house paraplanner doesn’t make fiscal sense. Here are just some of the benefits of contracting this work to an external paraplanner in Melbourne:
Access to Greater Resources
Firstly, assuming you choose the right service, you’ll access a whole team of professionals with lots of experience and expertise. These professionals will have different specialisations as well as all the best tools, devices, software, and solutions possible. What’s more, these people live and breathe the industry. If you have a problem, they’re dedicated to resolving it as quickly as possible.
Next, you don’t have to worry about all the recruitment costs mentioned previously. Instead, you choose your company and pay for the services you need. Rather than paying a full-time employee, you only pay for the hours that you use when you contract the work.
Furthermore, another reason why more businesses are choosing to outsource is the scalability that it offers. When you choose to go in-house, it seems as though there’s either not enough work for the professional or too much. When do you hire a second member of the team? Thankfully, this isn’t a concern with outsourcing because you can just scale up your services whenever you need help (you can also scale down if you don’t need so much help in a particular month!).
With no long-term commitments, you’ll enjoy a flexible arrangement to benefit the business. You reduce your overheads, pay for precisely what you use, benefit from the best expertise, and scale up/down whenever you need.
Go ahead and choose the solution that suits your business!