A significant percentage of small businesses operate without employees. As a business owner, you may be able to handle everything when starting. However, it may reach a point when you need an extra pair of hands.
Has your business gotten to this point? Below are three questions to ask yourself:
1. Are you behind on work?
If the tasks in your business are increasing, overwhelming you, it may be time to hire your first employee. Perhaps orders are now delayed because you have more deliveries to make, or you are canceling clients because you can’t serve all of them within the set deadlines.
Essentially, if you have more tasks to delegate, it may be time to hire employees. You don’t want to bring in people, paying them salaries when you don’t have enough work. Evaluate the tasks you have to determine if they can support an employee long-term.
2. Do you need a particular skill set?
If your business needs particular abilities, knowledge and competencies that you may not have, you need to hire people who possess them from the word go. In some instances, you may be able to operate your business in the beginning, but with time, you may need people with particular skill sets, for example, when you tap into a new market.
3. Can you afford employees?
Assess your budget to determine if you can afford full-time employees or if you need to work with contractors or interns. Consider if your business is doing well enough to pay salaries and benefits and if you have enough money to buy supplies, move to a larger space and create workstations.
Companies typically hire employees to make and save money. If you believe it’s time to bring more people into your company, get legal help to draft contracts and make informed decisions throughout the hiring process.