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What if my company can't afford to create a new job?

By on 12/1/2015

You’ve determined the need for a new job, but currently, the money just isn’t there. While you can’t draw blood from a stone, you do have a few options.

If your budget has some flexibility – just not enough to pay a full salary, benefits and increased overhead expenses – consider hiring a contractor or freelancer for jobs you need intermittently. These workers cost less than hiring an employee, and the work will still be completed.

For work you need done regularly, hire a temporary employee. Similar to contractors, temporary employees (or temps) also cost less than regular employees but, unlike with contractors, you’ll have more control over them and their work. By hiring a temp, you can better determine whether or not you need to create a permanent role or if the upfront cost of hiring a new employee is worth the future gains.

Be forewarned: If you decide to hire a temp as a regular employee, you’ll have to pay some additional fees, depending on the temp agency.

If you don’t have any money to spare, you still have a few options. Meet with department heads and managers to see which teams are the most shorthanded. You might be able to transfer a current employee to an overworked department. Or, if no team can afford to lose an employee, you can at least shift some responsibilities around to balance out the workload.

As a last resort, you could cut your spending on current employees by either decreasing salaries or benefits, or by moving some roles from full-time to part-time. You could also pass some of the cost off to your customers by increasing prices for services. ​​

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