Editor’s Note: Here at Dispatches, we are always looking for ways to help our readers do things. For some of our readers, that means helping navigate the working world, for others, it means assisting in the ever challenging question, “what’s for dinner?” For still others, it means figuring out how to balance family life with everything else. In an effort to aid in all of these endeavors, we have collaborated on this article written specifically for our readers.
To see your business grow and flourish, there might come a time when you decide to hire somebody to work with you. A new employee will reduce your workload and bring new skills to the table, and as a consequence, your business should prosper.
However, before you begin the hiring process, you do need to consider a few things first.
Is there enough work for the employee to do? If there isn’t enough work for the employee to do, you will be wasting both time and money hiring somebody. You will be wasting the employee’s time too, especially if they are sat around for much of the day doing next to nothing. So, before hiring, consider why you want to hire somebody. What tasks will they be performing? How long will those tasks take? While you might still need to employ somebody, there could be cause to employ somebody part-time or on a temporary basis rather than full-time, depending on the expected workload.
Why should somebody choose to work with you? Taking a cue from one of our previous articles, what is there about your business that will attract an employee? Especially if you want to choose from the best talent, what do you have to offer them? Are you able to pay a competitive wage? Does your business adhere to ethical principles? Will you be able to offer perks, such as the opportunity to work from home occasionally? While you should have a choice of candidates, remember that today’s job seekers might also have a choice of employers. You need to give them an incentive to both attract and keep them in your employ.
Is your business set up to employ others? This is where we get to the nitty-gritty, as you have certain responsibilities as an employer. You need to contact the IRS to find out more about tax requirements. You need to get the right insurance to protect both your business and your employee. There are legal ramifications to consider, so you should contact law firms such as Tully Rinckey to educate yourself on employment law. You need to set up a payroll service, be that using an outside company or doing it in-house. There is much to consider, above and beyond placing an ad in the classifieds and then welcoming somebody into your employ, so do your research, as you don’t want to hurt your business by forgetting something vital.
Can you afford a new employee? We aren’t only talking about staff wages here, although you do need to ensure you have enough income coming in to pay them each month. There are other things to consider, such as extra equipment that may be needed for the employee to do their job effectively, and the cost of training if outsourcing this to external providers. There are other expenses that may need to factor into the equation, such as travel and fuel costs, sick pay, and pension contributions. Can you afford it? You may want to speak to your accountant before the hiring process begins before you sign an employment contract.
Final word Getting to hire an employee for the first time is an exciting prospect, but you do need to ensure you are ready for the responsibility. Well done if you are able to offer somebody employment, but for their sake and yours, consider what we have suggested in this article.