If you noticed that the mound of work is preventing you from following up, it may be time to increase your staff. Your business can’t sustain itself if customers aren’t nurtured or opportunities are falling through the cracks.
To determine when to hire more employees, there are several things you should consider.
1. Audit the Workload.
Everyone should look at ways to systematize, automate, or improve processes. Identify the priority tasks and consider elinating non-essential duties that are not relevant to the current goals.
2. Define the Benchmarks and Metrics.
Do you need to acquire an office or coworking space to meet with your team? Do you need a certain amount of business in the pipeline? What dollar amount do you need in the cash reserves?
Achieving your stated benchmarks before hiring an additional team member is key. With a plan in place, you shift from “I need to hire someone” to building a plan around the new hire.
3. Calculate The Hidden Costs of Hiring.
Calculating an employee’s salary is just one cost of many when hiring someone. Health insurance, orientation/training, badges/keys, and computer expenses are some of the costs of hiring that many businesses fail to calculate. These hidden costs can add up. Better to add them up and have a realistic view before you hire than to realize it after you brought someone on board.
Every business in unique in its needs and it can be difficult to determine the optimal time to expand. However, with these tips in mind, you can design a practical, thoughtful pathway to hiring responsibly.