Money For Lunch – When is the Best Time to Take on Additional Staff?

When is the Best Time to Take on Additional Staff?

September 18, 2017 2:47 PM0 commentsViews: 22

 

As your business grows, you’ll find that there are more demands on your time and those of your employees. Although it is great to be busy, there comes the point when you simply don’t have enough time to complete all your orders. It is at this time when you are maybe thinking about hiring some additional staff. Just like any process within the company, it needs to be assessed to see if you have the capacity and the resources to cope with more employees.

Checking for the Signs

If your company is starting to grow, there will be signs that it is time to hire more staff. You need to be aware of these signs and act before it gets too much. Are your employees starting to work longer hours just to get the work completed? Are you spending more than a third of your time just replying to emails? If you are, then you should think about hiring more help to deal with the additional work. It doesn’t have to be a full-time role, hiring someone part time might be all you need.

What is the Work Capacity?

Firstly, you need to measure the amount of work your new employee will have. It will help you to find out if there is enough to keep them busy. You should ensure that any new worker is reaching 60 to 80 percent of their capacity. If you think that they would be working less than 60 percent, then it wouldn’t be a worthwhile investment. In a similar vein, if you discover that they will be working over 80 percent of their capacity, then you may need additional help.

Look at Your Competitors

Some industries will hire someone just because they don’t want their competitor to have them. It can often mean that the person they have hired doesn’t have enough work to reach their capacity. Although you don’t want to hire someone simply to stop your competitors getting them, if they are an asset to your company you may need to think about creating a role for them.

Check for Additional Resources

If you decide to hire someone, then you’ll also be increasing your productivity. The additional level of goods will mean an increase in the supplies you get from your clients. You will need to weigh up the extra cost of buying more supplies with the increase in sales you will get. You should also speak to your suppliers to see if they can cope with more goods. Big companies such as balingwiredirect.com will have additional capacity, smaller suppliers such as those independent manufacturers, might not be able to meet the demand.

By analyzing the workload and checking your company’s financial capacity, you can work out if hiring an additional person will be a viable option. If you find that your workload is seasonal, then you might not want to hire a permanent member of staff. You could always choose an employment agency or freelancer to help you out.

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