Knowing when to Hire New
Saturday, October 7, 2017
Becoming a business owner can be one of the most lucrative and rewarding choices you can make in your career. But if you’ve been in business even a week, you’ve probably realized that there are so many facets to running a small business or company. One challenging aspect of business ownership is managing when to grow your employee base and when to delegate tasks throughout your current workforce.
So how do you know when you need to create a new role in your company and hire someone new? There are many things you can ask to help you determine if that’s the best step for your business. First and foremost, understand that when you create a role for a new employee, you need to be sure the company is fiscally prepared for another employee. Hiring someone, the right person, is a long term commitment. You’re committing to offering them pay, unemployment if they were to leave, worker’s compensation, and a variety of benefits depending on the terms of their hire. If the company isn’t financially prepared to have another full-time employee, then hiring someone will be detrimental to your growth no matter how much you need the help.
If you could feasibly pay out the income for an additional employee there are a range of factors to consider…
Are your current employees overworked? Is their productivity and effectiveness being negatively impacted by the degree of work they’re expected to produce? Are employees willing to take on new responsibilities and skills, but unable to because of the expectations already placed on them? If any of these questions seem familiar, your company may be at a turning point where new roles need to be created.
Do you have employees that don’t quite have the skill set needed in order to make advancements in your industry? What has worked as the status quo may not be enough to take your company to the next level. That doesn’t mean your current employees aren’t effective, it just means that a different skill set may be required in order to increase company growth and advancement.
As the manager or business owner, reflect on how you’re spending your time. If your efforts can generate $1000 an hour for the company through sales or management and you’re covering accounting and technological duties that can be completed at $30 an hour, financial loss is being created by not hiring someone to manage those tasks.
RJ Byrd has been placing highly qualified and talented candidates to meet the needs of companies since 1996. We specialize in filling roles for Executives, Mid-Level management, Information Technology, Finance and Accounting. Contact us today to help your company accelerate to the next level.
Subscribe To Our Blog
What to avoid on a resume
Is it time to go back to school?
Do you need a career mentor?
What to Avoid During an Interview
Most In-Demand Tech Jobs for 2020
How to Find the Right Hire for Your Financial Depa
Unsure if you need a new career? Here are some sig
How to Find the Right Programmer
Don’t Lose Heart During Your Job Search
Understanding Behavioral Interview Techniques
Here Are Some of the Best Interview Questions
Can We Have Too Much Experience On Our Resume?
Most In-Demand Tech Jobs Outlook for 2019
The Best Career Options for People with a Finance
Career Placement Agency Best Practices
The Role of Recruitment Agencies
Why Hiring the Best Instead of the Available Is A
Top Tips to Advance Your Career in the Tech Indust
What You Should Know Before Making a Career Change
Top 10 Careers in the Tech World Today
5 Reasons to Hire Employees through Career Placeme
5 Helpful Insights to Bagging that IT Dream Job
5 Misconceptions about Job Recruiters
4 Advantages of Hiring a Recruitment Agency
Let Your Passion Drive Your Career Choice: Three V
Compromising or Maximizing: Where are you in your
Knowing when to Hire New
Networking for Net Worth
Describing Yourself in the Interview
Acing the Interview in Style
Making the Most of Your Career Search: Linking up
Making the Most of Your Career Search: Covering Yo
Making the Most of Your Career Search: Refreshing
Making the Most of Your Career Search: Part One
Your Resume: How to Really Make It Stand Out
The Cover Letter Dilemma – How Best to Use One
Best Times to Apply
Better Interview Questions for Finding the Best Hi
Making a Great First Impression During an Intervie
Can the Seven C’s Help you Find the Best Employees
Advice from Women in the Tech Industry
Succeeding in the Tech Industry
Perfecting Your Resume
The Silent Interview
Hiring the Best Instead of the Available
Beyond Cost: Calculating the ROI of New Hires
Inc: How This Texas City Is Working to Reclaim Its
Dallas Business Journal Poll: What is the best thi
Dallas Business Journal: Construction spending at