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When is the right time to hire help for your business?

July 2, 2013 In Business Growth, Guest Articles, News & Events, Positive Thinking, Uncategorized

how-hiring-employees-alex-beadon-e1372859546956Are you at a point in your business that you think you might need to hire more people? This could be outside subcontractors or add to your current workforce. This also might be time for your first employee! This is a great problem to have. But don’t rush. Plan and strategize. Here’s how.

Get Organized. Consider your current work flow process. Outline the process and the employees (or whomever is responsible for the activities during that process). Considering your current process and employees is key because you might be able to move a few employees to different roles. This also gives you the opportunity to review your current process.
Create an Organizational Chart. After you have created the work flow process, you then need to create and organizational chart. This org chart should also consider future roles and any outside contractors. Always add yourself to the org chart. A short responsibility outline under each name can really help. Contact us for a sample!
Review your Profit & Loss statement. Analyzing your gross margin percent will also let you know when it is time to hire. Export your P&L to Excel (or create it) and input the “new person” in your numbers and see how that pans out. Likely if you are feeling the “need” your P&L will show the need.
Establish clear roles and responsibilities for everyone in your business. Hiring will end up with a better outcome if you are clear when looking for and then what their responsibilities. Clarity is key in good work outcomes by your employees.
Create and organization chart establish clear roles get organized Hiring P&L statement review your profit and loss statement When to hire more people

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