Small business owners are always concerned about whether they need to hire more employees or not. Some business owners end up hiring more people than they need, while most of them don't hire more people (and add to the expense) when their start-up is new and hasn't seen much success. If you want to make this crucial decision, too, then here are 4 signs you need to expand your team.
1.
You End Up Doing Several Non-Essential Tasks
As a business owner/manager, you must value
your time. Measure how much time you spend on non-essential tasks like marking
attendance or preparing payroll and compare it with the time spent on essential
tasks like bringing in more revenue, meeting new clients, etc. If the former is
higher than you expected, you should learn to delegate. If no one is there to
take on those tasks, it's time you expand your work team.
2.
Your Customers Aren't Happy
Most businesses survive and thrive only because
of one core reason, they keep the customers happy. If your customer complaints
are rising, and you don't have enough time to respond to all the prospective
customers' queries, it's time for you to expand your team and bring in some
experts who can handle all customer requests deftly.
3.
Everyone at Your Office is Overworked
Another sign that clearly says you need to
expand your team is that your staff is constantly overworked. If you see
shadows beneath the eyes of most of your team, or they yawn too much during
important meetings, it's time to expand your team and hire more helping hands. When
you hire more people, you can give existing ones a better designation and a
team to manage so that they feel their career graph is growing and they can
grow with your company.
4.
You Have a High Employee Attrition Rate
Another sign that says you need to expand your
team is the increase in employee attrition rates. If your loyal employees are
leaving you because they feel overworked, dissatisfied, or underpaid, it's time
to hire more people before all the loyal ones leave you. When hiring new
people, make sure you tell them the challenges of your start-up, the kind of
work expected, and what makes your start-up unique (work from home option,
flexible hours, etc.) When candidates see what's in it for them, they would be
more likely to join your company.
When planning to expand your team, ensure that
you look at the budget and don't end up hiring more people than you can afford
to pay. It's always best to sit down with your finance people and create a
hiring budget. If you don't have an HR department yet, you can always pick a hiring agency to help you search for new people.
It's a quicker, cheaper, and reliable way to hire people fast without getting
too involved in the entire tedious process.
Also, here are some effective recruitment strategies for your team expansion plans. Good
Luck!
Source-
https://www.adp.com/spark/articles/2018/10/when-to-hire-more-employees-4-signs-its-time-to-expand-your-workforce.aspx