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When is it Necessary (and financially smart) to Hire More Help?

When you start a small business, you are quite often the only person on staff. If you are lucky, you may have one or two additional staff members. As your business grows you may start questioning job hiring for additional staff members. Bringing on these staff members at the right time can make all the difference.

The Right Time to Commit to Job Hiring

If you have been considering bringing on staff to join you in your small business venture, there are a few things you may want to take into consideration.

  • Your Time – It is easy as a small business owner to just do everything yourself, however this can result in you dropping the ball in other areas. As the owner of your own business, you need to have time to think through and make decisions for your business.  If you can hire someone for $10 an hour to answer the phone, or run errands, than you can focus on the CEO type work that needs to be done to see your business succeed.
  • Full-Time, Part Time, or Contractor – You will need to assess what makes sense when it comes to looking for qualified candidates for certain positions.  If you have a business that only relies on one computer then you may just want to hire an IT contractor, as there may not be enough work for an on-site IT specialist. However, if your business is technology based and you feel you need someone on staff all the time, then a full-time IT employee would be a smarter way to go. There are so many options when it comes to hiring these days, including virtual employees, contractors, and part-time staff, that finding the solution to meet your specific need is a lot easier than it may have been in the past.
  • Big Picture Thinking – When you are thinking about hiring, it is good to look at the big picture. When you hire a staff member you need to think about what it means for your business. This means thinking about payroll tax, insurance policies, and knowing enough about Human Resources law, that you don’t get your business into trouble. You also need to think about your current revenue and your revenue projections. Can you afford to hire a new staff member and continue to pay them in the long term? If you feel the answer is no, you may want to put off hiring for now, or look at some of the other options noted above. On the other hand, if you are spending too much time getting the smaller things done, you may find you actually save yourself money by hiring someone that can focus on the smaller jobs, whilst you work hard at building your business.
  • Customer Satisfaction – Your customers are the most important part of business growth. If you have so much work that you can’t meet your customers’ needs and deliver what they want on time, you may end up losing customers. If you have gotten to this point in your business, then it is time to consider hiring staff members to help ensure that your customers’ needs and wants are completely met. Putting off hiring in a situation like this may be business suicide.

When you have decided that it is time to bring in a new staff member, it may be a good idea to hire on a trial basis or hire an intern. This gives you the chance to really assess whether or not you actually need additional help for your small business.