Independent Banker - June 2024 - 28

PORTFOLIO
◎FOCUS PEOPLE
Could freelancers solve
your staffing problems?
During staff shortages, leaves and short-term projects, freelancers
can fulfill the needs of your community bank in a variety of areas and
concentrations-but there are risk-management considerations to be
aware of. By Don Sadler
hen faced with staffing
shortages, it's not uncommon
for community banks to turn to
freelancers to fill in the gaps. This
strategy offers a few potential benefits
when compared with hiring full-time
employees (FTEs).
Sandy Moll founded Advanced
Business Solutions in 2008 with the
goal of helping community banks
meet staffing challenges.
" Using freelancers and
independent contractors wasn't as
common back then as it is today, " she
says. " It can be a great solution to
dealing with staffing shortages in the
right circumstances, but it has to be
done right. "
Defining a freelancer
A freelancer is an individual who
completes work on a project or
contract basis, instead of as an
FTE. Freelancers are usually paid
on an hourly or project basis and
don't receive benefits from the
employer, such as health insurance
or retirement plan contributions.
Sometimes, freelancers are referred
to as 1099 employees, because they
receive a 1099 tax form reporting
their freelance income, instead of a
W-2 tax form like FTEs receive.
One thing to note: Employers
don't withhold income taxes from
freelancers' pay. Instead, these
independent workers are responsible
for paying their own income taxes,
including Social Security and
Medicare taxes.
Community banks can hire
freelancers to perform a wide range of
different functions. Some of the most
common include copywriting and
editing; social media management;
website and graphic design;
marketing and media relations;
IT and cloud computing; software
engineering; and data processing.
" Full-time staff members at many
W
28 // ICBA Independent Banker // June 2024
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Independent Banker - June 2024

Table of Contents for the Digital Edition of Independent Banker - June 2024

Contents
Independent Banker - June 2024 - Cover1
Independent Banker - June 2024 - Cover2
Independent Banker - June 2024 - Contents
Independent Banker - June 2024 - 2
Independent Banker - June 2024 - 3
Independent Banker - June 2024 - 4
Independent Banker - June 2024 - 5
Independent Banker - June 2024 - 6
Independent Banker - June 2024 - 7
Independent Banker - June 2024 - 8
Independent Banker - June 2024 - 9
Independent Banker - June 2024 - 10
Independent Banker - June 2024 - 11
Independent Banker - June 2024 - 12
Independent Banker - June 2024 - 13
Independent Banker - June 2024 - 14
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Independent Banker - June 2024 - 16
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Independent Banker - June 2024 - 18
Independent Banker - June 2024 - 19
Independent Banker - June 2024 - 20
Independent Banker - June 2024 - 21
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Independent Banker - June 2024 - 23
Independent Banker - June 2024 - 24
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Independent Banker - June 2024 - 26
Independent Banker - June 2024 - 27
Independent Banker - June 2024 - 28
Independent Banker - June 2024 - 29
Independent Banker - June 2024 - 30
Independent Banker - June 2024 - 31
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Independent Banker - June 2024 - 33
Independent Banker - June 2024 - 34
Independent Banker - June 2024 - 35
Independent Banker - June 2024 - 36
Independent Banker - June 2024 - 37
Independent Banker - June 2024 - 38
Independent Banker - June 2024 - 39
Independent Banker - June 2024 - 40
Independent Banker - June 2024 - 41
Independent Banker - June 2024 - 42
Independent Banker - June 2024 - 43
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Independent Banker - June 2024 - 45
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Independent Banker - June 2024 - 47
Independent Banker - June 2024 - 48
Independent Banker - June 2024 - 49
Independent Banker - June 2024 - 50
Independent Banker - June 2024 - 51
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Independent Banker - June 2024 - 54
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Independent Banker - June 2024 - 58
Independent Banker - June 2024 - 59
Independent Banker - June 2024 - 60
Independent Banker - June 2024 - 61
Independent Banker - June 2024 - 62
Independent Banker - June 2024 - 63
Independent Banker - June 2024 - 64
Independent Banker - June 2024 - 65
Independent Banker - June 2024 - 66
Independent Banker - June 2024 - 67
Independent Banker - June 2024 - 68
Independent Banker - June 2024 - 69
Independent Banker - June 2024 - 70
Independent Banker - June 2024 - 71
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Independent Banker - June 2024 - 73
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Independent Banker - June 2024 - 76
Independent Banker - June 2024 - Cover3
Independent Banker - June 2024 - Cover4
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