Timing is everything in business, including knowing when to bring in a new hire.
How do you know if now is truly the right time to hire new employees? With so many factors contributing to hiring new employees, it’s vital that your business considers them all in order to confirm that it is the right time to hire. Easier said than done, we know. So, to make the decision easier, The Job Shoppe has created a When to Hire Guide to help you recognize the need for additional staff members and what to consider before you make your hiring decisions.
The Job Shoppe’s When to Hire Guide
The first step to any hiring process is to reflect on current capabilities, workload, and efficiency. Ask yourself these questions: Do your current employees have the right/best tools to get the job done? Does our staff have the skills to perform at the level demanded of the job? Are the positions within your company structured correctly? Do you have any overlaps in responsibilities that can be streamlined?Every business is unique in its staffing needs; therefore, The Job Shoppe has organized critical factors into three areas every HR manager and business owner should consider:
Entering a period of growth is a double-edged sword. The success, whether product or investment-led, which has opened this new route will mean your business dreams have never seemed closer. It’s exciting! Here are ways that your business can grow that can trigger new hires:
- Opportunity to Offer New Services and Products Arise
- New Skills are Needed in Order to Deliver the New Services/Products
- History of Strong Growth
- Low Capacity to Handle New Business
Talent is among the top priorities in both growth and hyper-growth companies and the pressure to hire the right people has never been this intense. Don’t worry – listen to your instincts and consult the experts.
Workforce Warning Signs
Does your workforce seem overwhelmed or overworked? These warning signs can help you realize if it really is the best time to employ:
- Morale is Low
- Overtime is Becoming the New Norm
- You’re Losing Valuable Time on Nonessential Tasks
- More Sick Days
- Errors are on the Rise
- Clients are Noticing
- Revenue Strategies
By keeping the above factors in mind, you can identify any red flags before they overwhelm your team, cost you more money, or begin to set you adrift from your goals. You can then recognize when a new hire is necessary for your continued success.
Lastly, here is a hiring plan that can assist you in determining what employment investment is right for you, from the type of hire to costs of training and onboarding.
- Determine what Type of Hire is Best for your Organization Based on the Need
- Consider all Costs Associated with Hiring a New Employee
- Acknowledge any Concerns you have about Bringing on More People
- Validate your Company Organization Chart
- Create a Job Description and Position Profile
We know that if an employer hires someone too soon profits can decline and cash flow can dry up. Alternatively, if employers wait too long to bring on a new employee, their commitments can out space their capacity and their existing staff may be stretched too thin.
We hope that these critical factors have provided indicators that can help you to determine when it is the best time for your organization to expand. Which factor is most important to you when hiring? Which factors give you the greatest worry? Let us know by leaving a comment below.
If you are looking for some additional guidance in your recruiting, we’d be happy to help! Contact one of our passionate Customer Success team members today at email@example.com. A great partnership with the right firm can have an incredible impact on your business’ success.