As a small business or startup owner, it’s easy to lose track of how your employees are feeling with their jobs when there are countless other tasks to handle everyday. Losing morale inside the company can be devastating when it results less productivity and high turnover––two things no business ever wants.
When it comes to hiring new recruits and supporting the team that holds your business up, there are a few things that are commonly overlooked but very necessary if you intend on keeping talent for the long haul.
1. Start valuing quality over quantity when it comes to your staff
For small businesses and startups just getting off the ground, one of the most common problems is a budget so thin only the cheapest hires seem feasible. In reality, while payroll is certainly an immediate expense, paying more to get more usually turns into an investment later down the road.
Instead of looking at your one-year plan––find the right candidate that fits your 3 to 5 year plan and hire with that budget in mind. If you plan to reach 10 employees the cheapest way possible, try readjusting for 7 or 8 exceptional ones prepared to do the work.
2. Be sure you need to hire someone new in the first place
These days, training can be pretty cheap compared to a new hire with the variety of online educational tools at an employer’s disposal. Instead of immediately assuming a new task requires a whole new person on the team, look internally to see if those skills don’t already exist either with a current team member or throughout a team.
Instead of costs, think value––working to constantly grow your employees to evolve with the business is always more advantageous than having to churn through new people when your business makes a turn. Leverage the power of training and education to grow a trusted, long-term team.
3. Don’t trap yourself in the present when hiring new team members
While employment history and experience is certainly a serious consideration to take in to account when considering a new hire, keep in mind resumes are more about the past than the future. By only looking at what’s on the paper, you’ve essentially hired their experience rather than who they’ll become as your employee.
Switch the focus during the hiring process to center around not what that person has done in the past, but specifically, what they’re capable of doing for your company in the future.
4. If recognition isn’t your strong point, start identifying your best talent
Creating expectations for future hires isn’t always the most realistic way to go about creating the best criteria to judge new candidates with. A better way is to look inside your team and identify who is making the biggest contributions––what characteristics allow them to do so?
Learn who your star team members are, and from that, build your ideal employee around traits that people truly possess the next time you need to reach out and add to your team.
If you have questions or are looking for human resources services, our outsourced accounting and CFO services experts can help.
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