Hiring and staffing can be one of the most difficult parts of running a business. There’s a lot of risk bringing on a new staff member. What if they don’t pan out? Or worse, what if they bring a toxic presence into your company culture? Other times, it’s simply not worth it to hire for a project or position that’s only temporary. For many businesses, hiring a contractor is a safe option.
Hiring contractors mitigates a lot of risk for a business, but it also presents new challenges. The biggest is often how to pay that person. They’re not on your payroll in a traditional sense, which means paying on a 1099 basis. And while most modern bookkeeping software makes this simple, the actual transfer of funds is where many businesses struggle to find the best option. ACH transfer every two weeks? One big wire transfer at the end of the project? There are options, and understanding them is important.
As mentioned, there are a number of great reasons to hire a contractor. When it comes to hiring contractors in the United States specifically, that list of reasons grows.
The biggest benefit of hiring a United States contractor is, of course, familiarity. If you’re a North American company, a U.S. contractor is going to speak the same language, work the same hours and have the same expectations about the nature of work. There are few (if any) cultural barriers to bridge.
The United States is also home to the most skilled contractor pool in the world. Whether you need a digital marketing expert, mechanical engineer, procurement specialist or a microbiologist consultant, you’ll find them in the U.S. Moreover, you’ll find a full gamut of experience, from eager students fresh out of college to tenured experts with decades of experience.
Finally, there’s a certain peace of mind in working with a U.S. contractor. You can run a background check if needed, or call up references if you want to learn more about them. If they’re local, you can even bring them in for a visit—or, of course, hop on a Zoom call. At the end of the day, working within borders eliminates a lot of headaches.
The beauty of paying a U.S. contractor is that any and all questions of currency are immediately dissolved. The United States Dollar (USD) is the only currency accepted in the U.S., and it’s the only thing domestic contractors will want to be paid in—other than maybe Bitcoin. There are no conversions to worry about or exchange rates to consider. All you need to focus on is paying your contractor in-full and on-time.
There’s no shortage of ways to pay domestic contractors. The question you need to ask is what works best for you—and them. Here are some of the most common payment options to consider:
Most, if not all, of these modes of payment are acceptable when paying contractors in the United States. It’s up to companies and their contractors to decide on the best option for each situation.
For many companies hiring domestic contractors, the best way to get their people paid is the one that’s quickest, easiest and most efficient. For a growing number of North American companies, that means turning to digital payments, even over traditionally reliable bank transfers. With better transparency, superior reliability and virtually no cost, it’s the future of business payments.
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