Businesses often are afraid to hire. It can be a difficult decision, as we’ve discussed in previous blogs. Even though we even built a framework for whether hiring makes sense (http://www.mcbrideforbusiness.com/blog/when-to-hire-3-simple-steps-for-making-an-analysis), we know that some business owners just keep driving along uncertainly, waiting for a red indicator light to flash: “Hire! Hire! Hire!”
There are no flashing lights. But there are some metrics.
You can look at objective measures. How hard is your team working? How many hours do your employees work? Are projects behind schedule? Is there an inventory of incomplete work?
You can look at subjective measures. Could you improve customer service? Build better relationships? Would a new employee free you or other employees to engage with potential customers?
The key is to assess the benefits of hiring. Make mathematical decisions. Use formulas if you want. Lay out what the business would look like, and then make a logical decision based on the probability of increasing revenue and business.
Don’t avoid hiring because it’s frightening or uncertain. This is a business decision like others you make. Use the same rigor and analysis you use in other situations. Use your gut.
What’s your experience? How’s the hiring process been for you? Have you ever been afraid of hiring? Join us in the comments below and let us know your thoughts and experience.
Make sure you download our free checklist to assess your business: www.mcbrideforbusiness.com/BlogGift
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion, and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Petria Follett.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at firstname.lastname@example.org or (214) 418-0258.
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