It is noticed that many employees feel stressed out from the imbalance caused in the work-life matter. It harms their mental health, leading to the development of anxiety. To bring the employees out of this, employers must provide them with a flexible working environment. Understanding the need for full-time vs. part-time employment and including the same in your company can be one possible solution, providing the employees with distributive job types.
According to the reports of India today, every 9 out of 10 employees feel a relaxed environment is essential as it offers a better work-life balance (60%) and increases productivity (34%).
Moreover, increasing employee satisfaction increases their consistency in work and gives a more precise and profitable output. Read along to know the importance of full-time and part-time jobs and their benefits.
Full-time employment is the job type where the employees are assigned 48-50 hours in a week to perform work, and it is purely based on the company you are working with.
A full-time job is a type where employees can avail all the benefits but with limitations to the flexible hours. The employee needs to be available at the time of the company’s requirements and fulfill all the responsibilities. Compared to the part-time job, employees need to be more responsible for their work.
According to the HR functions, the benefits, bonuses, rewards, and salaries will be provided to full-time employees.
As it suggests, part-time employment is a job type with fewer working hours than the corresponding full-time employment. For example, a part-time employee is generally assigned 30 hours of work in a week.
However, appropriate attendance evaluation will have to be set in place to ensure the proper maintenance of the employee’s total work hours as there are no rules. It is because there are no rules as such for a part-time employee to complete a particular number of hours in a day, and it totally depends on the company.
Opposite to the categories of a full-time job, a part-time offers employees flexible working hours as per their choice and lesser responsibility but limited benefits. For example, employees may or may not receive paid time off gifts. However, employers provide a restricted balance of paid time off to avoid legal issues.
The salary structure of the employees will also be according to the pro-rata basis.
It is indeed true that both part-time and full-time employment brings their own essence to the workplace. However, people have different votes for part-time vs. full-time work, and we’ll see how.
Many people think of full-time employment as a permanent one and choose it willingly despite having work-life balance issues. While this is not the case, a part-time job can be permanent and temporary. It’s just the difference in working hours and benefits that matters.
Employers mostly prefer full-time employment to bring more consistency and productivity into work. Despite employee loyalty, the employees also receive full-time benefits and rewards as compared to a part-time job.
It is noticed that more than half of the population (60%) is adult and faces work-life balance issues, says the Understanding work-life balance survey by Monster.com.
People sometimes switch their job status just to maintain a supportive balance between their work and family. Work-life balance is also vital to avoid burnout due to excessive work. Students also consider part-time employment to support their studies.
Though people create diversions in full-time vs. part-time employment, both have their own benefits and drawbacks that are included further.
Every company has a policy toolkit that helps them to stay compliant with the employees. And the policies differ when bifurcating full-time vs. part-time employment laws.
If the company supports the idea of both part-time and full-time employment, the employer must polish up the working hours’ laws to ensure employee satisfaction. He has to pay attention to the rules and pay them accordingly to avoid wage violations.
The working hours’ laws establish the policies of 40-50 hours of work per week for full-time and nearly 30 hours for a part-time job. The company can change this according to its wish but must ensure that it remains within the limit specified by the law.
With working hours, the employers also need to go for overtime calculations. Overtime depends on the exemption of the employees.
If your employee is exempt, though having full responsibilities and paid on a salary basis, it is not mandatory to offer the overtime benefits. On the contrary, if your employee is non-exempted, though full responsibilities are paid on a salary basis, it is not mandatory to offer overtime benefits.
Not only working hours, but full-time vs. part-time employment include tax diversion also. Though both job statuses differ from the aspect of benefits and salary, the tax evasion does not change.
Whether it is income tax, social or medical security tax, the employer is responsible for withholding the actual amount of taxes as calculated during the salary processing and submitting the same to the funds. Also, ensure not to be caught in the web of wage violations by paying the actual employer’s contributions.
Ensure to review the state and central laws and deduct the taxes as stated if you are supposed to pay the unemployment taxes and compensation benefits, better to include them in the math.
Both full-time and part-time jobs have different characteristics related to responsibility, working hours, and salary benefits. Thus, they have distinct advantages and disadvantages over each other, which helps employees bifurcate them according to their requirement, which is included in the further topic.
According to the common belief, part-time employment is considered less beneficial than full-time employment, but this is not 100% true. Look at the advantages of the same to find out.
Full-time employment requires a higher level of trust, loyalty, and responsibility in employees, though it embraces many advantages that are included here.
As we learned that both part-time and full-time jobs have their own pros and cons, the company must offer both types to their employees to improve loyalty and trust with employees.
No one likes an Overbearing boss who always thinks of the company’s benefits and leaves their employees demotivated. Though the employer’s functions will increase, they can give their employees flexibility and increase their satisfaction. It also ensures more attentiveness in work due to increased comfortability, eventually retaining them for a longer time.