As a business owner, you may have frequent concerns about your staffing levels. This is perfectly normal. Do you have too many people on the payroll? Not enough? Many companies wait a bit too long to hire the help they need, and various aspects of the business will suffer as a result. So, how do you know if it’s time to hire new employees? Here are several signs:
1. You’re Paying a Lot of Overtime
You might think that hiring new staff is going to be costly. But are you already paying a ton of money in overtime? Take a close look at how much your overtime rates have increased. Also, consider that regular or frequent overtime probably isn’t a sustainable business model.
2. Your Staff is Overworked
Overtime aside, you might think that your business is ticking along just fine with its current staff. But, take a close look at your turnover rates and absenteeism. If employees are quitting or calling in sick frequently, this is a signal that they aren’t happy and feel overworked. A strained internal culture is another telltale sign that you should take some action.
3. Customer Service is Slipping
One of the most obvious signs that you should consider hiring new employees is when your quality and customer service levels begin to slip. If clients start letting you know about missed deadlines or quality issues, these are red flags that something is going on internally at your company.
4. You’re Turning Away New Business
Whether it’s a lucrative partnership or some other interesting opportunity that comes your way, new business is a clear sign that it’s time to hire new employees. As long as you have a solid business model to sustain your growth, hiring new staff to fuel growth will always be a “win” for your organization.
5. It’s Not Enjoyable Anymore
Not every aspect of running a business is going to be fun. But you probably started this venture because of some underlying passion. If the long hours and minutiae are slowly draining your desire to continue driving for success, it’s time to get some help. Then you can re-focus on re-igniting the fire that sets your business apart.
But You Don’t Have to Handle Everything In-House
Even if it’s time to hire new employees, you may not want to handle every function of your business in-house. After all, many companies find that outsourcing things like payroll, accounting, and marketing gives their in-house staff more time and resources to focus on client service.
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