Is It Time to Hire?
As a business owner, if the value of your own time is greater than the cost of hiring someone to help you, then you need to bring on extra help. While it is an extra cost, it is also an investment in the growth and future of your business. The five signs below will help you recognise when your business suffers from the consequences of being understaffed.
If employees complain of being overworked, investigate. Are people falling behind on deadlines, making small mistakes or having interpersonal issues with one another? If so, it probably means you’ve exhausted your current workforce’s abilities and need to hire more people to do what’s required.
Customer service and loyalty down
Employee and customer complaints often follow a domino effect. If your employees are unhappy, your customers probably aren’t either. Hiring an extra employee has two effects. First, your employees will appreciate the extra breathing room; and second, your customers will end up happier and more satisfied.
Your business has growing pains
Your company might be presented with a timely chance to grow, or perhaps your business will take off and multiply without any effort on your part. If you and your team are struggling with the additional responsibilities, consider hiring more people to keep the momentum going.
You don’t have the right skill sets
As any business grows, so will the needs of that business. Assigning an existing employee who isn’t qualified to handle your new needs can lead to disaster. If you’re investing significant money into a new campaign or direction, don’t skimp on hiring the necessary personnel.
It’s about Return On Investment
Hiring can be an expensive and time-consuming process but if there’s a need to expand, hiring new staff should give you and your business a substantial return on investment. Running your business is about calculating your risk and determining your needs and financial abilities. If an additional worker enhances the happiness of your employees and customers and boosts your product quality, then it will boost your profits too.
Do you feel it’s time to hire more staff?
Adapted from an article by Sean Bradley, docstoc.com