Pros and cons of freelancing for workers and companies

NEW YORK (AP) - Thinking of making the leap to freelance, or hiring an independent contractor? Here are some pros and cons to keep in mind: FOR INDEPENDENT CONTRACTORS/FREELANCERS Pros: - More control over the work you do. - Flexible schedule. - The possibility of making more money. Cons: - You're responsible for finding the next job. - Need to figure out health insurance, retirement savings and taxes. Must also keep track of payments from gigs. - Not having co-workers can get lonely. FOR COMPANIES Pros: - Independent contractors bring in fresh ideas without paying a full salary and benefits. - Contractors can focus on one problem or issue that needs solving. - Hiring companies can vet contractors, saving time and money. Cons: - If a company likes an independent contractor, it may be hard to get them to stay or work full-time hours. - The contractor might not be a match, and could take time and additional money to find a replacement. Published: Thu, Jun 04, 2015