The decision to hire new employees is not one that many business owners take lightly. Determining the return on investment can be tricky and sometimes questionable. The biggest question in a small business is “How much can I afford to pay?” In this economic time when more and more people are moving to Alberta looking for work, this might be the right time to hire. Considering that the unemployment rates are high right now, applicants are just concerned about finding work, the wages and benefits are not as hot for negotiation as they used to be.
Consider these questions when making your decision:
- What are your reasons for hiring?
- Do you need more time to market your business or develop more products?
- Do you feel that you need to provide your clients with quicker or stronger service levels?
- What is your time worth and is there something better suited for an employee to take over?
In my previous business, I completed most of the accounting and marketing functions for my business during the early years. This took a significant amount of my time, which would have been better spent recruiting candidates and working with clients on their hiring needs. Once I hired the people I needed to complete those tasks, who knew how to do them so much better and faster than I ever could, my business changed. This made me realize that I was spending too much time working in the business when I could have been building the business.
There are several different ways to fill the gaps in your business. Full-time, part-time, job share, temporary, virtual assistants and contractors can all offer you different levels of commitment to the payroll budget.
Determining what you require will allow you to choose your next step. I am regularly hearing employers say that their employees are not engaged. This is a good sign that they may be overworked, not feeling valued and ready for a change. If you feel that the timing may be right, look at your options.
Not all hires need to be for permanent full-time positions. From time to time, a short-term or even long-term temporary employee may be all you need to catch up on things, which can also be easier on the bank account.
ARE YOU READY TO ATTRACT, HIRE AND RETAIN THE RIGHT EMPLOYEE?
Join our Hiring Essentials System. This online course is on-demand, so you can learn key hiring skills at your convenience. Best of all, you will retain your access to the material and videos so you can utilize them again or refresh your knowledge at any time. Get all of these features and bonuses:
- Lifetime on-demand access
- Education on the best practices for job ads, descriptions, prescreening, interviewing, and background checks.
- Support in your decision-making process
- Job description, Interview questions, reference checks, checklists, offer letter and employment agreements.
- 500+ Interview Questions
- Cost of Hiring & Turnover Calculator
- Onboarding Checklist
- + More
Join us now for the Hiring Essentials course.
Leave a Reply