It’s not very expensive. I have a $2million policy for $350 from Hiscox.
It’s not very expensive. I have a $2million policy for $350 from Hiscox.
This one’s a little tricky because you’ve got a couple of issues going on. First is you’re probably misclassified as an independent contractor and second is whether you’re underpaid.
If you simply did just the bookkeeping for them, then that might pass as an independent contractor. You’d provide this service to this company and other companies, having discretion of when and how you work. All the other stuff is basically a W2 employee, like an office manager or admin assistant. This ties into the second issue of compensation. As a 1099 independent contractor, you’re keeping less of your $850/week than as an W2 employee because you’re responsible for self-employment tax.
Compensation wise on the surface, it doesn’t seem that bad if you’re making $44k/year in AZ working only 4-5 hours a day. It’d be a great salary if you had a full 40 hour work week. If they made you a W2 employee, they might want to pay you less because now they’re responsible for payroll taxes, insurance, and benefits. If you were truly a 1099 independent contractor, you could take 15 unpaid days off any time you want to travel, but they probably won’t let you do that, hence you’re truly an employee. As a W2 employee, you’d be getting PTO, sick days, and more protection from being let go.
PIPs are useless. It’s usually a way you prepare ti fire someone. It doesn’t miraculously make them a better employee. It gives them a warning to basically start looking for another job. So even if they survive the PIP because you had no intention for firing them, you r created a very resentful employee.
Recently, Square and Twitter’s founder, Jack Dorsey, says he’s getting rid of PIPs and just letting underperforming employees go.
https://www.dailymail.co.uk/news/article-12782747/Jack-Dorsey-Block-fire-underperformers-quickly-ditch-lazy-performance-improvement-plans.html