Your First Hire: The Key Questions Before Pressing Ahead
If you’ve got to this dilemma, then a massive congratulations is most probably in order. After all, making your first hire is a huge step, and one that tends to signal that your business is moving in the right direction.Of course, this isn’t an easy decision. We’re not talking about the wealth of talent that you might have to shift through, depending on where you have decided to open your business. Instead, we’re referring to the long-term commitment that you are about to embark on. Suddenly, you will have a person that has to be paid on a set deadline every month – there are no flexible payment terms here.
Bearing this in mind, it’s important to be certain before progressing. Here are some key questions that you should answer before you take the plunge.
Are Your Finances in Good Enough Shape?
You might have no additional time to complete company tasks yourself, but this by no means suggests that your business is ready for that extra pair of hands.
We’re not talking about efficiency, there will be a point on that later. Instead, this is all about the state of your bank account. Are you going to be able to afford the regular, fixed payments that you will soon be obliged to commit to?
If this feels risky, your decision should already be made. Sure, some of you might feel that an employee will add value, but if your company finances are in a precarious state already it’s probably worth getting them sorted before turning to a full-time person, who needs that regular salary.
What Are the Other Options?
As we have already alluded to, getting your first hire is something of a tick box which suggests you are moving in the right direction. It’s for this reason that some businesses decide to rush in with both feet.
As it turns out, as “fashionable” as this approach might be, it’s not the only option which is available to you. Particularly nowadays, with the gig economy in full swing, there are other solutions you can turn to. Freelancers for example, don’t arrive with that long-term commitment, and can be commissioned on a job-by-job basis. Sometimes, these individuals don’t even have to turn up at your office – they can be managed completely remotely which can again save on your costs.
Then, there are basic changes within your company to just make things a little more efficient. Take a long, top-down look at your business, and see if there are any areas you can trim down on which cost you a lot of time.
What Role Are You Actually Filling?
This final question might appear almost too simple but give us time.
It sounds ridiculous, but a lot of businesses don’t really know what role they are trying to fill. They just want an extra pair of hands to help with “everything” – and that’s the end of the matter.
Suffice to say, this is an approach which is asking for trouble. If your new employees don’t know what job they are going to carry out, your talent pool is going to limited at best. Sure, you might get some applicants with a widespread career who can help with everything – but the chances are slim, and you are much more likely to fail with said approach.