The small business sector is booming, with 84 percent reporting another good year according to the recent Wells Fargo/Gallup Small Business Survey. For the women that currently own 27 percent of SMEs or franchises, this is welcome news and many of them will begin to contemplate look plans for growth, ranging from expanding product lines to venturing into foreign or overseas markets. With this, a large portion of them will be also looking to expand their workforce to support this phase of growth in the business. When adding additional employees to your workforce, businesses must time their employee recruitment right. When it comes to making that decision, businesses should not only rely on business activity projections but also look to their financial and current workforce capacity if they are to ensure their growth plans go smoothly. When it comes to growing a business, it is not just about having the right financial and asset support, but also about having the right human resources, as more women juggle booming entrepreneurship and home lives. This is where recruiting the right employees becomes key.
Before You Recruit, Determine Your Hiring Needs And Capacity
Before you can hire any more employees, establish what you expect from them. This refers to determining which functions of the business are expected to expand and whether the role would call for part-time or full-time hours. This is also the point where most small businesses consider whether it is worthwhile hiring more staff, outsourcing their new needs or opting for automation. For example, increased sales can give rise to an expansion in credit control and accounting. However, opting to outsource the company’s credit control process to a debt management firm or investing in accounting software can relieve the pressure being felt by current employees (not to mention cheaper in the long run).
Tied into this is also the business’ ability to hire more staff, both financially and physically. Does your business have enough space to accommodate a growing workforce or will your new hires be remote? Can your business budget accommodate added salaries? This will also determine the hours you offer employees. In some cases, businesses can hire a part-time professional and save themselves much-needed cash.
Make It Clear Your Employees Are Valued
To attract the right talent, a business must offer the right working conditions. The impact of this does not end in the recruitment phase either but instead carries on well into an employee’s career at your company by affecting employee productivity and motivation levels. As you prepare to hire additional employees, take the time to review your employee policies and remuneration package on offer. Small businesses can use industry and competitor averages in conjunction with a clear job description when deciding the salary for potential employees. Employment and job market websites including PayScale and GlassDoor can also be useful in the process.
Don’t forget to consider the other aspects of employee remuneration either including workers’ comp coverage and add ons like dental insurance, flexible work options, and employee recognition programs. Employee recognition encourages productivity and loyalty. Yet only 1 in 3 workers say they received recognition in their job roles recently, according to Gallup’s analysis. Finally, be sure to include specific ways to support female employees such as on-site or subsidized child care or job sharing.
Map Out Clear Roles For Both Potential And Current Employees
If you are adding employees to your workforce, you must first set clear boundaries and roles for both your current and potential employees. For current employees, this tackles the issue of confusion and imitation. For new employees, it helps them get off to a good start in your business and guides them on what roles they are expected to fulfill. For the business, this ensures maximum efficiency, minimizes any overlap of duties and provides key support for you as a female entrepreneur. Having a clear vision of the role these employees will play in your business’ growth plans will help you identify the kind of skills and the level of experience you are looking for during recruitment. Start with crafting a clear job description using website tutorials, how-to tips from recruitment professionals or free tools like the Hemingway App. Alternatively, you can outsource this to a recruitment and retention firm.
Hiring the right employees can make or break the growth plans for any small business. As you take your business to the next level, it is crucial that you have the right people, in the right place and at the right time. Therefore, before putting out a recruitment ad to expand your workforce, take some time to consider whether you do need additional employees, when you need them and finally, how you can employ the best person for the role as your business grows.