It’s a hugely exciting moment and one that most probably suggests that your business is on that elusive upwards curve.
At the same time, recruitment is difficult. It’s not just about setting down an appropriate job description and easing your recruits into the role – it’s the responsibility your business now has towards other people, not just its founders.
Bearing this in mind, if you think you’re almost in a position to make that first hire, here are some crucial considerations that you need to factor in before taking the plunge.
Have you thought about all the costs?
Contrary to popular belief, this isn’t about just paying the advertised salary. Unfortunately, the costs of hiring span far wider than this and cover everything from recruitment fees right the way to pension contributions.
The trouble is, these costs keep rising. We’ve seen the recent announcement of national insurance increases. While the media covers the direct impact on employees, let’s not forget that businesses are also seeing their rates leap.
Ultimately, there are umpteen hidden costs when it comes to recruitment. Is your business ready for this?
Do you have the internal capacity to support a new starter?
If you’re a growing business, it’s likely that your current team is already pretty stretched. With this in mind, do you really have the time to support a new starter as they get to grips with the business?
It’s vital that you do. After all, a large part of the success of a new starter will come down to the support that they receive in those crucial early days. Many companies fall into the trap of thinking that once a person has been identified, the rest is history. As it turns out, there’s a lot of training needed before any person is up to speed – and this all needs to be factored into your calculations.
What does your company culture look like?
Your company culture is the personality of your business. It’s the set of values, attitudes and behaviours that your employees display, and it’s what makes your business unique.
You need to be clear about your company culture before you start recruiting. Why? Because you need to make sure that any recruits fit in with the existing team. The last thing you want is to create disharmony within the business.
What are your long-term goals?
When you’re hiring, it’s crucial to think about the business’s long-term goals. What do you want to achieve in the next five years? In the next ten years?
You need to make sure that the person you’re hiring will be with you for the long haul and that they’re going to buy into your long-term vision for the business. Furthermore, do you have the scope to have this person for the long-term – or is your decision on the back of some recent seasonal spikes that may not last?
Hiring is a big step for any business. But if you take the time to consider all of the above, you can be sure that you’re making the right decision for your business.