What is the exact number of employees that you think your business needs to operate?
While that can be a tough question to answer, it is one that is nonetheless important to your prosperity.
Are you thinking about adding manpower the rest of this year or once the New Year rolls around? If so, how many people? Also, where would you add these positions? Last, do you have the budget with which to pay for such new hires?
There are some questions that one must answer in deciding the right time and place to bring on new workers.
So, are you ready to make such important calls?
Finding the Right Talent for the Right Price
In considering whether to add manpower to your operation, remember a few key pointers:
Knowing the right timing to add talent is of course something that is hard to do.
Short of a crystal ball, one does not know how local and national economies will play out over time. As such, it can be difficult to say that hiring folks sooner is better than later.
One of the factors to keep in mind is national employment data.
By having a better idea of the market coast-to-coast, you see how your industry is fairing.
Also note that many job seekers stay up to speed on national employment trends too. By doing this, they are more inclined to know where to go for the jobs that they want. Whether that is on a local or national scale, many do whatever it takes to interview for the right company.
Although your timing of when to add workers may not always be precise, don’t approach this with blinders on.
- Salaries and Benefits
Before you place a single help wanted ad, you need to know your spending limits.
If your sales numbers have been so-so through the first half of the year, bringing on more talent now may not be best. On the flip side, some may say that adding more manpower is necessary to boost those revenue dollars.
Taking a look at how companies pay workers for comparable positions is important.
Make sure that your current team is being paid relative to what others make at your competitors. Remember, you can’t expect good talent to stay with you if they’re falling behind.
In the event you want to add manpower and yet have to do it at lower salaries than you’d like, make up for that shortfall.
Among some of the ways to do that:
- Solid health benefits package
- Access to a free fitness center
- Access to free daycare for employees with children
- Allowing employees to work from home on occasion
- Company events like a free lunch or Happy Hour etc. at times
- Listen to employee feedback to learn how to improve your business operation
By doing your best to create a positive environment, you tend to attract better talent.
If thinking about bringing on staff, put some thought into it before the first help wanted ad goes out.