For an entrepreneur, rapid growth can be both a best- and worst-case scenario. Every business owner is familiar with the challenges that growth poses. Growing too slowly can lead to the demise of a business, while growing too fast without the proper infrastructure in place can be disastrous, too.
Knowing when to hire more people for your team is akin to an art. The cliché “time is money” is true whether we want it to be or not, especially for entrepreneurs. You need quality people around you to lessen your workload now, not the hope of a lighter load somewhere in the distant future.
Not sure whether now is the time to start hiring more talent for your team? In this post, we’re discussing five signs that it’s time to grow your team.
Current team members are overworked
If you’re working in a central location, notice when your employees are arriving and leaving. Or, if you’re a remote team, pay attention to the times that individuals are submitting assignments – or failing to do so in a timely manner.
If you see an increase in hours or a crash in punctuality and performance, your employees’ workload may be too much. Security systems may be a good way to observe if people are working nights, early mornings, and weekends, leading to burnout.
Some cyclical businesses require seasons of additional hours (think accountants in tax season), but if this isn’t the case, you may want to re-examine assignments and hire more staff.
The tasks that need to be done will generate money
An old business adage states that employees should either make money for the business or save money for the business. If hiring more people would do one of these things for your company, do it! If you’re a newer business, generating income is likely more important than saving – so hiring people who can complete tasks that will make more money will help your business succeed.
Identify and categorize the jobs that need to be done, such as creating the product, marketing it, and supporting it. Continue to assess the needs and adapt as you grow.
Specific skillsets for necessary labor are lacking
If your business has grown and requires competencies beyond those you or your current team members possess, it is time to hire qualified team members.
Narrow things down to exactly what type of employee(s) you need. Instead of hiring with generic requirements, apply hyperfocus to your applicant description and hunt. The clearer you can be with the set of skills and responsibilities for the potential positions with your team, the more likely you are to see your company thrive as you add new hires.
With the right skillsets on staff, each team member will be equipped to stay focused on what they know and do best. This helps you grow while continuing to offer excellent service!
Quality of work is suffering
One glaring way to know that it is time to grow your team is when you notice the quality of work going downhill. Rushed employees can produce sloppy errors and a poor end quality in the product or service provided to clients.
Ideally, your business will have a balance of quality and quantity. When that doesn’t seem to be the case, it could be time to hire more team members.
Turning down new business opportunities
Perhaps the most telltale sign that you need to expand your team is that you are starting to turn down new business opportunities because you are at capacity. Kudos to you for saying no because taking on new projects would be too much for you and your team, but consider that this could also be a sign that you would do well to expand.
As you notice these things and decide to interview new employees to expand your workforce, you will increase your potential for success. Entrepreneurs shoulder the responsibility of ensuring steady growth. It is easy to get preoccupied with one of the many facets of your company while forgetting another, but making sure your team is supported and appreciated will help every area of your company culture thrive.
If you’re ready for your business to grow, RODA marketing is a team of experienced marketing experts who will help make that happen. Schedule a discovery session with us, and our results-driven internet marketing services will take your business to the next level. Our team will go to work for you right away!