Businesses grow, and there comes a time when you have to employ more staff to meet the demands of the business and of your customers. But that time might not always be clear to you.
Signs such as the struggle of employees to cope with their workloads, time wasted on tasks that aren’t particularly important, and spikes in customer complaints are all indications that you need more bodies in your business.
You should always review the financial position of the company, however, to ensure you can afford to take on more people and evaluate how many you can hire. If you’re witnessing strong revenue growth, this is a good time to find those new employees.
The Benefits of Hiring New Employees
Hiring new staff can really boost your business and keep it powering forward.
Simple benefits of hiring new employees include:
- A source of potential new ideas for the business
- The acquisition of new skills for the business
- Larger capacity to take on projects
- Improved employee morale and mental health
- Growth in revenue.
Important Things to Consider When Hiring New Employees
Of course, if you’re in charge of hiring new employees you have a responsible job on your hands. You can’t just take on the first person you interview and hope that things will work out. Below are four important things to remember when you’re hiring new employees:
The Candidate’s Personality
You’ve got to be able to trust the person(s) you’re hiring. Not only are they working with you, but they’re also representing your business.
When you’re interviewing them, you should keep in mind that they’ll be working with other people in your business. How will they fit in?
Don’t forget you’re dealing with real people, so treat your candidates with consideration during the recruitment process. This will encourage them to open up, allowing you to see whether they’ll be a good fit.
The Candidate’s Career History
When hiring your candidate, you should discuss how long they were in their previous job and the reasons why they left. Think about how long they’ve worked in your sector, too. These considerations will help you determine whether the person is joining you for the long haul and to understand them better.
Background Checks and References
Your potential new starter may list glowing credentials on their CV, but do they actually have them? You should verify the claims on their CV. Have they worked at the places they state they have? Have they hidden any brushes with the law? Check their references? Do their former employers remember them, and what do they have to say about them?
Have you managed to fill the role with the ideal candidate?
Naturally, employing new starters increases the amount of admin necessary in the company. One area of this is taxation. A company must report an employee’s wages and any other compensation they’ve received to the Internal Revenue Service (IRS) correctly to ensure everyone is paying the right amount of tax. If they fail to deposit the taxes on time, they can end up paying a stiff financial penalty.
It’s not good news for a business to get on the wrong side of the IRS, so you should make filing taxation correctly a priority. The financial department should make sure they’re aware of all the rules for filing returns and depositing money before the deadlines, and plan accordingly.
Hiring new candidates is a tricky process but employing the right ones will bring some excellent benefits to the business. Understanding who you have in front of you and assessing correctly whether they’re the ones for the job will drive the business forward and increase its profitability.
But remember to stay on the right side of the law when it comes to taxation, too. Failure to do so could harm the profitability for which you’ve strived so hard.