There comes a point when a start-up turns that corner into profitability. Suddenly you’re earning enough money to make a modest living. But you may be working every waking hour to do it! This is the time when you need to consider taking on some help. Recruiting can be hard work too, though. If you know you need some people power to help your business now, there are several things you need to know. Employees are a massive investment and a huge commitment. Here’s why:
The cost of advertising a role can be quite expensive. You might use a recruitment agency to better target that cash, but this will be even more costly. Your business may then become swamped with applications that you have to find the time to sift through. Make sure you have a detailed competency checklist. You will also need to detail the responsibilities of the role to check against applicants.
If you are a small firm, you are unlikely to be able to attract the most talented and costly people to recruit. However, you may be just the kind of company a hungry, career driven starter may be looking for. These may be people with little proven experience, but their enthusiasm could encourage you to take them on. Consider the investment of your time when it comes time to train them for the role.
Temp to perm jobs are very popular right now. They may cost you a little more per hour, but you can try a person out before committing to taking them on. It also means you can try out being a boss for a while before committing to having any staff permanently. It allows you to adjust hours of working to save costs too.
Benefits & Taxes
It is important to offer a benefits package to your new employee. Full-time staff expect a workplace pension, holiday leave, and bonuses. What you offer beyond that will depend on your financial position and the post you’re trying to fill. If you already have a number of employees, it could be time to consider employee assistance programmes to reduce sick days. When you invest in staff, you need them to be as productive as possible.
Taxes and NI will need to be calculated and deducted in your payroll office. This can be quite complex, but most companies use an automated software package. Pensions also need to be contributed to. The employer makes a minimum contribution. The employee then has a choice about how much they wish to contribute from their pre-tax salary. Companies sometimes often to match a percentage of this amount as an added benefit.
Inductions & Training
It is good practice to provide an induction programme to ease your new employee into the business. Usually, a detailed history of the company and your goals or objectives are discussed. This demonstrates to the employee why they are needed to help achieve those goals. You might then introduce your staff member to the systems, people, and practices within the business.
Training can be accomplished internally or externally. It might lead to a qualification or just a general competency on a new system or method of working. Your investment will include time and cash to support the ongoing development of your staff. This should lead to higher productivity and greater independence in the role.
We all need a little motivation to accomplish our tasks each day. The threat of losing our job isn’t always enough! Sure, money motivates, but this could lead to just the bare minimum being accomplished. As a business looking to grow, you need creative people that can help your business develop, expand, and excel in the marketplace. How do you motivate your people to do that?
As you take on more people, you’ll find that you will need to spend more and more time managing them. This can include team building exercises or managing flexi workers at home. When you take on more staff, it’s important to consider how this could change your role in the business. Consider what will motivate you to drive your employees on to success.
All employees have rights. This includes their right to privacy under the Data Protection Act. Do you have secure systems to protect their personal information? You will also need to ensure you have clearly defined Equality guidance. The Health & Safety Executive also has regulations supporting your employee’s rights. This protects their wellbeing in the workplace. Take care of your new recruits to help drive your business to success.