As the beginning of a new year approaches, the general consensus is that 2015 should be a good year for business. According to the career site Monster.com, 74 percent of executives plan to expand their businesses.
As a business leader, you have to decide if the timing is right to expand your business and hire new employees. There isn’t a crystal ball to guarantee that company growth will continue and that adding more staff is the right thing to do. It’s one of those risks that every business has to take in order to keep growing. Thankfully, there are three signs in particular, that you should look for when considering to hire more staff.
Overworked, Overwhelmed Employees
Every worker has grumbled about being overworked at some point or another, but if the majority of your employees, especially your top performers, are complaining, then it’s time to take notice. Entrepreneur magazine recommends “talking to your employees and asking them to validate their concerns of being ‘overworked’. Then look at attendance and productivity indicators to substantiate their claims.” If the issue can’t be solved through more training or restructuring, then it is probably time to increase your team members. Additionally, if your top talent is telling you that they want to expand their responsibilities or implement new projects, but don’t have the time, it’s time to bring on new staff.
Disgruntled Customers
If you are unable to meet the needs of your clients regularly, you risk losing their business entirely. If you find yourself unable to provide the full extent of services that clients are requesting or unable to implement new products that customers are asking for, then you should take a look at your workforce. Inc.com suggests that if after analyzing your current processes for inefficiencies, you still can’t adequately handle problems, it may be a sign that you do need more help.
Similarly, Entrepreneur proposes that you take a look at your current staff’s skills and knowledge to decide if you need to add on. If a different set of skills is needed to reach the next level of success for your business, it’s time to start looking for your next great team member.
Excess Profits
Increased business is always a cause for celebration, but it can also be an indicator that it’s time to hire, depending on the circumstances. Once you’ve rewarded yourself and your employees, investing the increased revenue back into the company by bringing on more talent is a great option. However, Erik Sherman, a blogger for Inc. and CBS MoneyWatch, has a warning for anyone considering this step.“ Many entrepreneurs get excited when they see a rush of business,” Sherman said.“ Before deciding on growing your staff, be fairly sure that the increased workload will last long enough to justify them.”
The first of the year can be the perfect time to hire new employees and prepare for future growth. Business leaders need to weigh the decision of hiring very carefully, though. Right now, it may be better for your business to bring new workers in on an evaluation hire, allowing you to see if they are fit for the team before hiring them permanently. If the timing is right, expanding your workforce can be the best thing you’ve ever done for your business and could set you up for a record-breaking year in 2015.
Connie Druliner, franchise owner, Express Employment Professionals, 61379 S Highway 97, Bend, OR 97702. 541-389-1505, connie.worrell@expresspros.com
