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Consultants are very important part of any organization. Almost every corporate firm has its employees and consultants. It often becomes much necessary for any company to have consultants along with employees. So, if a student studying finance plans to join a corporate firm, then he or she must learn about consultancy well, keeping in mind their plans for career. This is where our Consultants (Engaging & Paying) assignment help plays vital role.
While studying this subject, what a student must first learn is that who are consultants are and why companies need them. A consultant is a person who has vast knowledge in some area or field like, finance, medical, science, etc. and he or she provides expert’s advice to a company, consulting firm, or a CEO. However, unlike an employee their services can be hired by more than one organization. To understand the way such persons get recruited, paid, etc. If you have any doubts regarding how consultants work or what role do they perform then come and take our Consultants (Engaging & Paying) homework help.
A bit deep into this subject
Consultants associated with some agency can be of two types, viz.
- Internal consultant
- External consultant
An internal consultant is a person who is given some salary and associated officially with a department in the company; however, other departments of this said company may consult them and take their advice in their field of expertise. However, an external consultant is a person hired by a company from the outside for their valuable opinions, ideas and suggestions. Such a person gets a lump sum amount as a fee for their services. There are a lot less restriction on a consultant than on any employee. To understand all that, accept Consultants (Engaging & Paying) assignment help of 24x7assignmenthelp.com.
Advantages and disadvantages
What are the purposes of a company to hire a consultant? How are they benefitted? Answer to this is ‘liability’. For a company, an employee is a huge burden and liability. They have to be
- Paid monthly wages and salaries,
- Given paid leaves,
- Often offered complementary meals, sometimes taken responsibility of them and their families, etc.
- But, such rules do not apply for consultants.
So, it is advantageous for any company to hire a consultant than keeping an employee. However, there are also disadvantages, like,
- Consultants have to be paid a large amount altogether.
- If they are of critical fields of expertise, they often get to name their price
- It may so happen that in time of need a company cannot find any consultant worth their job.
Most of what is the disadvantage of a company is quite an advantage for its consultant. But the major disadvantage is that for such consultants there is no security of job or income. Today being consulted by a company does not guarantee tomorrow’s earnings. Our Consultants (Engaging & Paying) homework help does help you to understand all these factors and decide when it is best to hire consultant and when an employee.
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