Small business hiring isn’t as simple as having an opening and finding the right fit. You first have to analyze whether or not your company can support that new hire. Can you guarantee that the demand of your business will remain consistent? Are you certain that this position is completely necessary to the successful running of your business?
1. Time. When demand for a product increases, many small businesses and startups make the mistake of overworking their current employees, the New York Times article points out. Instead, companies should think of creative ways to meet that demand.
For instance, you can conduct a job candidate search for a new hire that could work seasonally or just temporarily. A new hire does not have to be a full-time hire. Meeting this need on a basic level keeps current employees working at a rate that they can handle, rather than overworking them. It also enables you to test out this new position against the demand. If the demand remains, you can establish this new role as a full-time position.
2. Money. Again, you can get creative here with part-time or seasonal help. You don’t have to splurge on a full-time salary. Assess the need, affordability and estimated length of employment and determine what your small business or startup can realistically provide a new hire.
3. Demand. Start keeping track of trends in demand for your product. Does it occur at roughly the same time each year? Are you offering big discounts during different seasons? Keeping a record of your demand enables you to prepare for a job candidate search when the time arises.
This isn’t just good for small business hiring; it’s good for your business, in general. Knowing the demand for your product, its increases and decreases, will better help you cater to your clientele’s needs. And having the necessary staff on hand keeps everyone happier.
4. Common sense. As the New York Times article points out, sometimes you just know when it’s time to invest in more hands. Unfortunately, they don’t call it a “job search process” for nothing. It takes time to find the right job candidates. But by keeping close track of the demand, time and money of your product, you’ll be more efficient at getting new hires on deck when the business calls for it.
How else do you predict small business hiring needs? When do you think it’s time to bring in new hires? Share in our comments now!