If your business is consistently expanding and your earnings consistently meet or exceed targets, you might be considering bringing in additional support.
Hiring additional help can be a smart decision, allowing you to focus on critical tasks and aiding in the growth of your business. Here’s what you need to know to begin.
Assess if you’re prepared to hire
- don’t have the time to manage all the work yourself.
- see opportunities for growth and want to offer services requiring skills you currently lack.
- want to expand and need additional skills to complement your own.
- don’t have time to handle all the paperwork.
- don’t have time to provide excellent customer service.
- have revenue that you’d prefer to reinvest in the business rather than using it for personal financial rewards.
Case study: Weighing options
For the past five years, Ben’s Gardening Service has maintained suburban gardens by mowing and weeding. Ben, the owner and sole gardener, has managed to stay on top of both the work and the invoicing with ease. His accountant takes care of his GST and tax obligations.
After winning a contract to maintain the grounds of two retirement villages, Ben is considering hiring another gardener. He discusses this with his accountant and uses the Employee Cost Calculator (external link) to ensure he can afford the extra help. Ben decides to hire a permanent employee to work three days a week.
Ben’s plan is for his new employee to take over the existing clients, allowing him to focus on the retirement grounds, handle the paperwork, and secure new business. Ben is pleased that his business is growing and that he took the time to determine the type of employee he needs.
Deciding on the role
If you’re reasonably confident that you’re ready to hire, it’s important to first set aside some time to figure out:
- Which type of staff member you should hire, such as a permanent or casual employee.
- What skills your business requires to expand or diversify.
- The number of hours per week needed to complete the required tasks.
- How much responsibility you are prepared to delegate.
- Whether you are willing to provide training to bring someone up to speed or if you need a candidate who can start immediately.
- The expected salary range for potential candidates.
- The resources needed, such as wages, insurance, tax obligations, computers, etc.
Which type of staff should you get
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