Consultant vs Direct Hire

 

You’re the owner, the administrator, the decision maker: you are the one responsible for your company’s success.

 

Our recent economy makes defining and rapidly achieving success in your market incredibly important. To make this harder, the success you are targeting will be different project to project, day to day and, unfortunately, crisis to crisis. For a great deal of past planning you have either done it yourself or pulled your team off revenue generating activities to complete the groundwork and implementation of new projects, policies, processes and/or service lines.

 

In the past, considering a consultant was a luxury. But, more and more the objective, project specific, expense of a consultant will lead to increased revenue with less internal stress and strife; retention is a focus in your organization like all others. Consider

the following: In an economy that is becoming increasingly unstable, with expenses being cut, more regulations being brought to bear, having to dodge more and more traps in the minefield of human resources, companies are looking for every opportunity to save

money and grow their programs. BUT where to start? Even in defining your project, a consultant is an objective auditor, filter and monitor of the wide variety of organizational issues that may be holding your company back.

 

A consultant will provide the work product you need without the costs associated with a full time employee. There are no costs for advertising, no down time for interviews, no long term commitment to salary without the new service line ready to drive revenue and no employee benefits costs.

 

Consultants are hired for a specific time span or project, controlling cost and allowing you to budget the improvement or growth project. Consultants provide a wealth of knowledge, expertise, experience and insight that those too close to the situation often overlook or dismiss because of familiarity. In many ways, a good consultant is like a good automobile mechanic: an analyst that can listen to a potentially troublesome problem; take apart a situation; show you the higher performance possible and then get you up and running. A great consultant will show you how to keep your “well-oiled machine” at peak performance and should offer services to teach key personnel to be a strong “pit-crew”.

 

A consultant is hired to increase efficiency and supplement existing resources, whether human or informational. Hiring a consultant should not be undertaken to undermine your existing staff. On the contrary, a consultant provides professional services that complement your team’s skills; thus, allowing them, and you, to concentrate on your current business. Often a consultant may complete work faster and more efficiently than in-house staff. This is a natural offshoot of the objectivity and focus a consultant brings to the project. Further, staff who are involved in the necessities of day to day operations are often unable to step back and take a broader look. The consultant has the unique ability to be able to take a neutral stance in terms of office politics and organizational history, maintaining relative objectivity in evaluation and implementation of your project. Consultants are often hired to implement changes. The well chosen consultant is highly effective in gaining consensus among employees. This holds true even when the consultant is hired to make and deliver unpopular “adjustments”. In this case the consultant can redirect employee ire from leadership and will often assist in supporting company morale restabilizing after the changes.

 

A start-up consultant, as the name implies, assists in all phases of the often bewildering task of starting a new company, from business plans and initial funding through growth planning and everything in between. This type of consultancy is also used to develop and implement new service lines in an established business. The intensity of resource utilization is significant in all new business development. This situation benefits from a consultant whose time can adjust to the project without losing focus during the often time-consuming processes that lead up to new business implementation. The consultant can work on site or on your behalf from their base office. Work that must be completed prior to rolling out your business expansion includes developing the framework of the business plan, policy and forms development, legal review including licensure issues and the development of staff training tools. These can be done off site between formal on-site meetings as none individually require full-time work effort and are completed in stages. Work product can be electronically reviewed and polished between the consultant and your staff without interrupting revenue drivers at a specific time and day in multiple on-site meetings. When onsite meetings are called with the consultant, the organizational staff are ready and eager; not frustrated and fragmented by too many meetings.

 

There are a few decisions you need to make before bringing a consultant on board –

 

The first step in the consulting process is determining why you need one.

 

 

 

Define your goals and expectations before you begin to search for/contract a consultant. The more focused your goals and expectations, the more productive that first telephone consultation with the consultant. It may be determined that your organization is seeking a consultant to assist with the project definition. To prepare for the initial contact, have your notes available that outline the input you have gathered from your leadership group regarding possible issues and areas for improvement.

 

What you should look for in a consultant –

Hands-on experience is critical, not simply being well-versed in theory. The successful consultant must have real-life experience. To be truly effective, he or she must have lived in the trenches; must have felt your pains and found methods to avoid their repetition. Beyond this, the consultant whose business and value basis that best matches the core values of your organization will deliver the product and service with which you can live and grow.

 

Without a doubt, there are some consultants who by their methodology or personality, or incompetence, will frustrate your organization or provide you with a very lovely “boilerplate” product then walk away with your hard-earned cash. A worthwhile consultant will leave dynamic tools and have trained those key persons you identified. There are too many players in the field that cannot deliver with quality and consistency. It is key that you take the time to meet with, at least telephonically, the consultant before you considering contracting. Expect not only experience, but possibly more importantly, discuss the business perspective the consultant group stands behind. Do the core values match your organization? Be on the lookout for the consultant who listens to you…really listens. During the first couple of conversations with a consultant, you should be the one doing most of the talking. Remember back two or three paragraphs in this article where it is suggested that you need to define what your goals and expectations are before you begin talking to a consultant? Well, now is the time for you to articulate those goals and expectations, as well as other things, to the consultant and this is the time that the consultant should be listening very closely to what you have to say. Lack of familiarity or difficulty understanding your business or not taking time to focus on your business needs is a huge drawback. The ability of the consultant to listen, understand and then act is critical to the success of this new relationship.

 

What a consultant should provide –

Although there is a certain thread of similarity that runs through all companies regardless of what type of business they’re in, each company is unique. Your organization brings different personalities, different needs and different business philosophies from those of your competitors. Therefore, the consultant’s final product, written or otherwise, should never be a boilerplate product. In some cases, a “canned” written manual or other written product might be what you agree upon in contract.

 

However, in most cases, a product that is written specific to you and your business, during the course of the consulting relationship and after the consultant has attained a thorough understanding of your business, will be of much more value and certainly more meaningful and useful to you. At the same time, be wary of the consultant who attempts to present any particular approach as if it is the only option. A good consultant will offer choices; explaining the pros and cons of one alternative over the others. Remember this is dynamic relationship; the conversations should likewise be dynamic.

 

Be looking for the consultant who will transfer knowledge and experience to your organization so that it can be carried forward when the consultant is no longer with you. If the consultant does not actively transfer needed information and skills to the organization, you will be left at a loss when that consultant leaves. A consultant needs to bring you expertise, but be realistic. Since no single consultant honestly has all knowledge in their head, you hired the consultant to provide the time and effort to research all options. So be prepared to hear, on occasion, “I don’t know, but I’ll research it for you.” Recognize this as the sign of an ethical consultant who listened and heard your unique needs.

 

Once you hire a consultant –

Once hired, let the consultant do the job you contracted to have completed. Offer the consultant your thoughts and organizational history and insight to the informal systems in your organization. Be open to the consultant’s observations and suggestions. The purpose in bringing in a consultant is to achieve change you believe necessary for the growth and strength of the business.

 

Stay focused on the project you and the consultant have defined and prioritized. During this process you will undoubtedly identify other areas for improvement because you’ve allowed for expanded vision of your organization. Keep notes on these additional areas; a good consultant will likewise be keeping notes. It will be imperative to set aside specific times for you, and possibly other key persons, to meet with the consultant to discuss the peripheral points that were noticed during work processes.

 

BEGIN THE PROCESS OF HIRING A CONSULTANT

In closing, let me say that even the big corporations bring in help from time to time, because every now and then we all need a helping hand.

 

Make an appointment with yourself and take note of what is really vexing you right now. Do you have regulatory or risk management issues? Do you have employment or training headaches? Do you want to start new programs or just increase your bottom line? What specific project or process do you need to hand over to a consultant? Make a second appointment to bring key staff up to date with the idea of hiring a consultant. Call the consultant. Calling does not cost your business. In fact, it will save you the revenue loss of taking key staff off work duties and will prevent the immediate hire of an employee

with the associated costs.

 

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What are the benefits of hiring a consultant ?

 

*No employee benefits' premiums
*No vacation, sick or holiday time to pay
*No taxes-Payroll, Social Security
*No Medicare, Unemployment
*No Worker's Comp
*No legal responsibilities associated with employee policies
*No additional office space, No additional office equipment or furniture
*No ongoing training expenses, No agency fees

*Never pay for downtime, breaks or personal issues and  no employer compliance issues

 

Let's Do the math!  (See below), we already did it for you....

Cost of Employee Turn Over

No employee benefits' premiums
No vacation, sick or holiday time to pay
No taxes-Payroll, Social Security
No Medicare, Unemployment
No Worker's Comp
No legal responsibilities associated with employee policies



More Benefits...
No additional office space
No additional office equipment or furniture
No ongoing training expenses
No agency fees
Never pay for downtime, breaks or personal issues
No employer compliance issues


On the other hand....

The Cost of a Business Solutions Provider


Hourly $25.00*
Effective Pay $25.00
Hours per Year 1040
Total Cost $26,000

Savings $21,408


*Based on retainer rate.

Due to not having to pay benefits, overhead and taxes along with the fact that you only pay for the time you need, you actually save more than $20,000 a year by contracting with a CCMA professional rather than hiring a full-time employee!

Not only that, but because CCMA’s consultants’s are more experienced, more efficient, and better connected than the employee, you'll need to devote far less time to the project to get the same results---only 1,040 hours a year versus 2,080 for the new employee.












 Did you know that the real cost of an employee is 2 to 2-1/2 times their salary?


Surprisingly, a $12.00/hour assistant really costs you $27.60!

Pay Rate $12.00
Benefits $4.75
Overhead $6.25
20% Inefficiency $4.60
Total Hourly $27.60

Hours per year x2080
Yearly Expense $57,408
True Hourly $27,60


In the case of hiring an employee, this new employee is paid a wage of $12 an hour. However, this wage is not a true cost to the company.

The cost of benefits for the employee (health insurance, life insurance, 401k, and so on) weighs in at approximately 35-40 percent of the hourly wage, or $4.75.

Overhead: electricity, offices, computers, etc. - costs the organization another 50-60% of the employee's wage or $6.25 for each hour worked and paid.

Then you must figure in the "Inefficiency Factor"; time spent at the water cooler, personal calls, smoking breaks, etc.

This brings the employee's total cost to the organization to $27.60 an hour--more than double the wage paid to the employee for each hour worked!


When you multiply the hourly rate by the standard number of hours in a work year, the grand total for the new employee comes to a very costly $57,408!

One More Thing:

The costs described above are those you will incur to comply with state and federal laws. They are not all the "extra" costs of having employees. Employee benefits such as paid vacations, insurance, retirement plans, and maternity leave (just to name a few) all contribute to your costs. Though most of these are optional in that you are not required to provide them, they are often necessary to attract and keep good, qualified workers. Beyond that, to make those workers as competent and effective as they can be, you may have to incur training costs. In short, when considering what your employees really cost you, don't forget to consider the whole picture, and plan and budget accordingly.