Category: Perth News

Outsourcing: Beware the contractor vs employee trap

In the past decade, outsourcing has been the word on every pair of lips of business persons. Outsourcing is nothing more than taking away a part of your processes and operations and entrusting them to a professional team that is not in your company and whose main task is to do this work for you.

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Outsourcing

Years ago, outsourcing was used only by large businesses. But thanks to technology especially the internet, it is now available to smaller companies. The internet has paved way to globalisation, threading paths though avenues. These days, tasks and processes are now outsourced day through information superhighways the world over. The Internet provides the access, so why not make use of outsourcing? There are a good many reasons to become an advocate of outsourcing.

One of the main advantages of outsourcing is it allows your business to effectively use your human resources. It allows you tackle your workload even if you do have a small workforce – just like any new small business as they normally start small with few employees. Employees in the company can thus focus on the main purpose of the business and their own area of expertise.

Another advantage of outsourcing is that you save some time on training and seminars. When you just outsource certain service, your employees don’t have to undergo extensive trainings to sharpen their skills on certain tasks. If the work is outsourced, there is then no need to train new staffs, which goes further in reducing costs.

There are many other benefits outsourcing brings. And by knowing all those advantages, you’ll be encouraged to use such type of services. However, just like anything in this world, outsourcing does not only bring benefits, but consequences as well.

To give you a better understanding on what this means, read this: https://www.flyingsolo.com.au/working-smarter/outsourcing-beware-the-contractor-vs-employee-trap

Are you better off selling your home and going back to renting?

Nowadays, it seems that interest rates keeps on rising over time – this has become one of the most popular issues Western Australians talk about. With wage growth remains relatively flat while other household expenses and bills, many individuals and families experience stress and panic mostly caused by mortgage stress.

Many households struggle financially these days. Many experience stress caused by mortgage interest. Some suggest that selling home and renting a new one could be a better, smarter option. It could be difficult to entertain, right? However, it can be just a smart option to consider.

Renting vs selling home

Buying versus renting a home has been an old debate. Both sides have valid points, so it can be a bit confusing. Like we’ve mentioned, recent changes in the tax law have also made owning a home less financially advantageous, so the buy vs. rent dispute continues to evolve.

Sure, many would argue that buying a new house to build equity for your self instead of paying monthly rent to your landlord is a wiser decision. But in reality, there are many financial reasons why renting may be more compelling.

Keep in mind that buying a house is a major investment and life decision. It is not as simple as it sounds. So, you first need to make sure you understand whether or not you are even in a good position to purchase a new home. Your finances are not your only consideration either. So if you struggle socially, professionally and most especially financially, now is probably not the right time to be buying.

Renting is the better option if you are struggling financially. Cost is the most obvious advantage of renting. Although rents can increase, monthly payments are typically less than buying a new house. Paying rent isn’t a waste of money. Yes, you won’t see your money again, but you get a place to live for you and your family. Even when you buy, you’ll be spending a lot of money on interest payments, taxes and other fees.

Read more at: https://www.watoday.com.au/money/borrowing/are-you-better-off-selling-your-home-and-going-back-to-renting-20181008-p508ed.html

 

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