It’s incredibly exciting when your business starts to grow. It all began with an idea, and you’ve built it up to what it is today. As you continue to develop it, you might be starting to think about taking on employees. Some business owners never reach this point and are happy to continue working alone. But for many, a permanent employee will help them to keep building their brand even further. However, hiring someone isn’t something you can rush into. You need to think about it carefully before you make any decisions. Before you take on an employee, think about the following factors.
The Financial Side
Before you hire your first employee, you need to think about whether you can afford it. Firstly, the hiring process can be expensive. Even if you advertise and interview for the position yourself, you still will end up dedicating a lot of your time and money to looking for the perfect person. But on top of how much it costs just to hire someone, you need to make sure they’ll be valuable to your business. Will they be helping you to save or make money? You should only hire someone if it’s going to further your business, so you need to know what the benefits are going to be.
Your new employee might not be directly making money for you. Sometimes they might enable you to start selling a new product or something similar, but that won’t always be the case. But they should help you get more work done. Depending on what you hire them to do, they could be freeing up your time to do something else, or allowing you to expand your business practices. Maybe you want to take on an admin assistant, so you don’t have to worry about any of that anymore. You’ll have more time to do more important things, like networking and marketing. Or perhaps you want to continue what you’ve been doing, but have someone else start helping you to expand by doing something new.
Following the Law
If you’re going to start employing someone, it’s essential that you do it legally. You need to get everything right from the beginning to avoid any trouble down the line. You’ll need to do official things like getting an employee identification number and keeping records of employment taxes. It’s a good idea to take a look at an employment law advice guide. It will help you get to grips with taking care of the rights and wellbeing of your employees. If you want to be a good employer, try to start off on the right foot.
The Hiring Process
When you’ve decided to take someone on, you’ll need to consider the hiring process. Many larger businesses will outsource their hiring, but you probably will want to do it on your own. You’ll need to advertise the position in appropriate places, after deciding how much the salary will be. Shortlisting candidates can be very difficult, but don’t settle for anyone because you’re getting impatient.
Taking on your first employee can be the first step to expanding your business even further. Just make sure you approach it with the care and consideration your company deserves.
Photo by Jeff Sheldon
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