Growing Business? When to Hire More Staff

367 AA new hires.jpg

Growth Strategies: Is it Time to Expand Your Workforce?

Has your business experienced a growth spurt in recent months? You’re not alone. According to the most recent Intuit, Inc. Small Business Employment and Revenue Index, U.S. small business employment added 25,000 new jobs in June 2013. That’s a good thing for business, but is it also a good reason to hire more employees? Here are important questions to consider before searching for that perfect candidate…

 

Are you meeting company goals? Think about where your company is in its growth cycle. Are you meeting current goals? How big do you want your company to be? What is your definition of success? For some businesses, it’s not a huge company.

 

Consider current employee workload. Is your current staff experiencing unnecessary burnout because of increased growth and the resulting extra workload? If so, it might be time to alleviate pressure and add staff.

 

Can you control company growth? There’s a big difference between whether new business is the result of external lead generation – or of a current client’s demand for more services. If it’s the latter, hiring additional help so that you can continue a high level of client service is always a smart decision.

 

Are you growing too fast? Growth isn’t always a good thing for smaller companies if service starts to suffer and other problems crop up when you can’t handle the additional workload. This is where a business coach or strategic advisor’s counsel can help you see the bigger perspective and decide how best to address.

 

Consider temporary/contract help. If your recent growth is the result of a particular project and not a long-term client, you may consider temporary or contract staff to help. Although the economy is in recovery mode, companies of all sizes are still hesitant to increase permanent workforces – leaving contract work an attractive option for many.

 

Your Turn: Is your business experiencing unexpected growth? How have you handled the increased workload? We welcome any advice/experiences you’d like to share with others – let us know!

Search 367 Addison Avenue
Showing results for 
Search instead for 
Do you mean 
About the Author
Labels