5 Signs It’s Time to Expand Your Team
Increasing your business is an exciting and positive development that generally entails employing new team members to deal with the surge in demand. It is a benchmark of your business’ success, yet taking new employees on board can be a daunting and nerve-wracking experience. The best way to approach the task is to produce a checklist and look at the situation holistically and realistically. Hiring an employee is a major investment for which you need capital. To help you make a decision whether you need extra assistance and an expanded team, we have come up with this useful checklist of red flags and signals that it’s time to take the plunge.
1 – Losing Business & Turning Down Work
Your workload is the primary indicator that you need to expand. If your plate is so full that you cannot cope with your workload, and it is negatively affecting your productivity, then it’s time to get help. Winning new clients is always a pleasing development for any business. However, taking on work you cannot deliver leads to dissatisfied customers and sub-standard work which is rushed to complete. You need to weigh up the increased work with the cost of an additional employee. Clients might even be turning their back on you due to the delays and frustration with your processes. However, you cannot please everyone all of the time, and losing one or two clients is a normal part of business.
2 – Negative Online Reviews
If your business is visible online, and most are these days, you are literally opening the floodgates for your customers’ feedback. Online reviews can literally make or break your business. If used correctly, you can turn negative reviews to your advantage by responding online and showing your company cares about its clients. Negative reviews will also point out which areas of your business you need to improve upon. For instance, if several online reviews mention lousy service, you know this is an area you need to develop and possibly employ new staff.
3 – You need someone with specific skills & are able to write a job description
You can’t know it all! There are most likely tasks that can be done more efficiently and better by someone else, possibly a pro. Maybe the bookkeeping and accounting, or customer service. That could be slowing you down and costing you time and money. If you are using a freelancer, you might want to employ someone full-time for the job. It is more cost effective if you need continual assistance. If you can write a specific job description, that is another sign you are ready to employ someone new. By describing the day-to-day tasks of your employees, you can determine if there is enough work to fill an eight hour day all year round. What specific or general skills do they require? If you find there is enough work, then it’s time to take someone new onboard.
4 – Your own and your employees’ errors are on the increase
Everyone makes mistakes now and again, but if they are persistent, you or your workforce may be overloaded. Signs to watch out for are forgetfulness, heightened emotions, and lower overall quality of work. The moral of your employees creates a more pleasant office environment and improves productivity, especially for a small business.
5 – Time to get out of a rut and go on holiday
If you overwork yourself and your staff, mental health will deteriorate. When your business starts cutting into things like sleep and the time you spend with your family, then it’s time to take stock of the situation. If the last time you took a holiday is more than a year ago, you might need to lessen your workload and outsource part of your responsibilities. Adding a new member can galvanise the whole team and get you out of a rut. New impetus and a fresh approach can improve the entire team’s morale. Nevertheless, before diving in at the deep end, analyse your product and overall business plan to ensure you have considered everything and worked out any lingering doubts.
As a final note, hiring employees is a sign that your business is healthy and growing. It is a long term investment, so make sure the value justifies the additional cost and choosing the right people will add value and assist with the growth of your business.