For a relatively new, growing company, one of the challenges can be determining when is the best time to bring on new employees. This process tends to move very slowly at first, but once you’ve gained some momentum you’ll notice that the need for a new employee or two comes faster and faster.
Here are some general guidelines that should help you to determine when you need to bring in some help to your staff:
- You’re turning down work. You can be absolutely sure that you need to hire a new staff member when your workload exceeds your capacity. The longer you go with turning customers and projects away, the more you’re stunting your growth potential. However, don’t hurry into the hiring process just because you suddenly find yourself exceeding capacity; whoever you bring in should still be someone who will quickly acclimate to your business’s environment and increase your capacity.
- You have found a new revenue stream. This is a situation that businesses that are already moderately established are more likely to encounter. Say, for example, you’re a content creation company and you consistently have clients asking about web development services. You may consider adding those web development services to bring in a new revenue stream, and hire someone with experience in that area to head it up. If you’re not personally qualified to handle it and neither is anyone else on staff, it’s definitely a good idea to hire a professional to join your team.
- Your quality of work suffers. This is another issue that could result from being overworked. When there is so much work in the pipeline, it’s natural for the quality to begin to suffer as a compromise for getting the work done quickly. As soon as you notice that this may be starting to happen, it’s definitely time to hire someone to join your team.
- An existing employee leaves or needs to be let go. If someone on your payroll leaves to take a new position, or you need to fire an existing employee for any reason, it’s a good idea to replace them as soon as possible so that you do not lose momentum. This is especially important for small companies, as the tiniest halt in momentum could have a huge impact on your growth rate.
Have any additional questions about when you should hire an employee? Contact us today at Viral Solutions. We are pleased to work with our clients to help them maintain momentum in their business and keep growing at a steady clip.
Copyright Viral Solutions llc © 2014. All Rights Reserved
by Christine Kelly
CEO and Queen Bee | Viral Solutions LLC