When your small business starts getting more profit, it’s obviously an exciting time. But with more money comes the question: is it time to expand? The answer is, usually, yes. Even the most successful small businesses started out with frustratingly limited resources. If given the option to change anything, many say they would have loved to have had more hands on deck! So do you need new employees now.
Need New Employees Now
With expansion comes more employees. You can finally stop trying to be a CEO, accountant and a developer at the same time! Your employees can stop trying to do the job of five people!
If your business is understaffed, then this is going to negatively affect it eventually. People will get too stressed out. So don’t be tempted to continue having you and your employees doing several jobs at once. You’ll just burn yourselves out. Take advantage of increased revenue to get yourself some more employees!
But you have a lot of options when it comes to hiring employees. We’re going to run through the most common forms that you should be considering.
This is generally what somewhat images when they talk about hiring employees. They’ll typically work between 32 to 40 hours a week. They can either be paid by the hour or given a set salary. Whether or not you should get a full-time employee depends on your particular need in a given section. Assess how strained your current full-time employees are.
A part-timer will generally work less than 32 hours a week. This usually translates to two or three days a week, but it could stretch to five if they’re only working half days. They’ll be paid by the hour; set salaries for part-timers are usually rare, though this doesn’t mean you shouldn’t look into it. Part-timers can be very useful if you don’t need that many hours in that particular discipline. For example, many small businesses find they need accountants. But in their early days, it’s unlikely they’ll need one for 40 hours a week. So they end up getting a part-time accountant or outsourcing.
Apprenticeships are one of the most modern ways of getting new employees. The focus here tend to be placed on the benefits to the employee rather than the other way round. An apprentice will cost less than a full-time employee, generally because they lack formal experience. That is, in fact, what an apprenticeship is all about – getting long-term experience on the job.
Independent or temporary contractors
Does your business have a set of jobs that can be performed remotely, without the need of someone using supplies in the office? Or is the job something that is only going to take a few weeks or months? If you need such flexibility in the employment, then you can look into getting contracted work. This refers to the hiring of one of two types of employees. One will be somebody from a temporary agency. The other will be the hiring of a freelance worker. This can save you money in the long run. Though they tend to cost more per hour than a standard employee, there are several other expenses you probably won’t have to pay.
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