With budgets growing tighter and project deadlines approaching faster, a cohesive, capable workforce could make all the difference in improving your bottom line.
But mounting workloads can overwhelm even the savviest of staff and you might find yourself facing a difficult decision: Do I need to hire a new permanent employee? And if so, when is the right time to hire?
This decision is not as simple as it may seem; there are many components that factor into hiring a new employee.
Entrepreneur Kurt Johnson, owner of several business in the Los Angeles area including fitness venture Swollforlife.com, suggests making a list of advantages and disadvantages before making any decisions. Some advantages, to name a few, may include new ideas/different perspectives, assistance in completing projects/assignments, a diverse set of skills, and more time/resources to allocate to other endeavors.
Johnson mentions some disadvantages being the time and cost required to train/compensate the new employee, the risk of investing resources in the new employee only to have the employee leave, or a breach of confidentiality/privacy (e.g. an employee sharing ideas with a competitor). These advantages and disadvantages will differ depending on the structure and nature of the business.
There is, however, one prerequisite that remains consistent across the myriad of diverse businesses, and that is budget. Can you afford to bring on a new employee? Worker’s compensation, benefits, and payroll are just a few of the many expenses a new employee incurs and must be carefully considered. If your business simply cannot afford to take on these expenses, perhaps it is not the right time to onboard a new employee. However, there are alternate options if your business needs inexpensive, immediate assistance in tackling current/future workloads.
One option that has been gaining tremendous recognition amongst employers is the utilization of staffing agencies. Agencies specialize in providing a fast and effective supply of skilled workers in temporary or temporary to permanent capacities. If your business is unable to undertake the full costs of hiring an employee, staffing agencies can provide your business with capable employees without the risk of employee turnover. Highly trained specialists in nearly any field are available almost immediately and can help lighten your workload. This means you can allocate resources to other projects without worrying about acquiring lofty employee costs. You will significantly reduce hiring costs by utilizing temporary employees until you are ready to hire permanent employees.
Readily available employment options give employers flexibility that did not exist in the past. If the advantages of hiring a new employee outweigh the disadvantages, it may be time to consider an addition to your team. Please don’t hesitate to contact an Account Manager at McCallion Staffing Specialists if you are in need of hiring advice or assistance; we would be happy to help!