The operation of your business greatly relies on your ability to manage the workforce. Knowing when to hire new individuals can maintain the momentum of your growth. But what if you’re unsure when to begin hiring? Here are a few signs that will help clear up the fog.
1. You’re growing fast
What would happen if your orders or clients suddenly doubled overnight due to a highly successful marketing/promotional campaign? Would your business be ready to take on the extra work?
What about growing so fast that your company culture starts to become lost in the transition?
Matt Grebil, of Three Twins Ice Cream, explains the issue perfectly:
“Company culture is generally formed fairly early on by founding members and key management personnel. These individuals work very closely together, making it relatively easy to maintain company culture. But as you start to add new personalities (not to mention additional locations), it can become a real challenge to assimilate all of these individuals and maintain the company culture.”
By following through with regular reports, keeping track of trends, taking care of employees, and knowing when to hire, you can prevent a lot of the fall out which happens when your business grows too quickly.
2. Your employees are overburdened
You can only push your employees so far and if this goes on for too long it’s possible that the well-oiled machine you call your business may come screeching to a halt. You can tell when work is getting rough for employees, when they are vocal but even then these complaints are toward the tail end of the problem. The solution is to provide ample aid for your employees by taking on additional people. A look at local temp services should make it easy to find help to put your business back on track and keep your loyal employees happy and unburdened.
3. You’d like to utilize the extra time zones
Your business (and employees) may be restricted to the 9-to-5 timeframe but if you’re online and doing business globally you don’t want to miss an opportunity because the lights go off at the end of the day.
Hiring additional help, such as using virtual employees, can help your business break into these new time zones and continue to push sales and excellent customer service around the clock. You’ll know when this moment happens when you notice an uptick in global interest. Be ready to take on those new hires and claim those awesome opportunities.
4. You’re ready for an expansion
One new person can make all the difference when it comes to expanding into new territories and ventures. Hiring a new team could also be what your business has been waiting for to realize those goals and dreams that were unachievable with the current workforce.
Additional aid will allow your business to grow into new and exciting horizontal & vertical ventures (along with placement in new physical locations) because you’ll have the talent required to make those important business moves. You’ll know when to expand when you’ve begun to hit your market cap; your capital would be stable, assets built up, and a workforce that’s itching to do more. That’s when you strike (when the iron is hot).
They say the key is to hire people better than you. Knowing when to bring on this additional help will make all the difference in your quest for success. Pay attention to the tell-tale signs and you’ll prevent the growth pains. See the additional help not as an expense but an investment toward the future of your business.