Two of the main goals for any successful, for-profit business is to increase revenue and reduce costs. But what if by saving money, you’re actually hurting the company? For most, labor already makes up a significant portion of operating costs, but that shouldn’t stop you from continuing to hire. In this blog, we’ll identify a few of the major signs that come when bringing on new workers can no longer be put off.
Have you noticed that certain projects are taking too much time or not getting finished at all? Do ordinarily happy people seem stressed and irritable?
These could be signs of burnout and if it’s not handled correctly your employees could leave, increasing the pressure on those that remain and making your staffing situation even more difficult.
You must find the fine line with a level of work that challenges your employees without overwhelming them. In most fast-paced and growing companies, this will always be a concern. As an employer, your goal should be to provide a work-life balance for your employees that will ensure the quality of their work isn’t impacted by the quantity of work required.
Building a sustainable culture that provides this work-life balance is crucial in today’s job market, both in recruiting new talent and retaining what you already have.
The pressure to hire may not just be coming from your internal team. If there is an increase in the number of customer complaints or consistent issues with getting orders out on time, you’ll have to weigh the costs of hiring new employees to losing clients.
By hiring more workers and adopting a strong customer service approach, you will have employees proactively going the extra mile and producing great work instead of reacting to demand and simply pushing product out the door. By letting employees become mindful and strategic about the task at hand, you’ll see higher levels of innovation, strategic thinking and quality that will be delivered to your customers.
Struggling with providing for your current customers isn’t the only customer-related concern that a limited staff brings.
Have you had to say no to opportunities such as a bringing on a new client or starting a project simply because you didn’t have the time? A larger and more qualified staff can solve that problem and get you back in the game. If you want your company to grow and stay competitive, hiring new workers will have to become an accepted cost of doing business.
You don’t want to waste money, but by not hiring, are you wasting talent? Once you reach the point where the employees you hired for their specific skills and knowledge are spending too much time on entry level or administrative work, it’s time to bring someone on to support them.
Your skilled employees should be doing the work that you hired them to do. There are others out there who are starting their careers and looking for opportunities to get their foot in the door. This not only will take some of the load off your current employees, but it will also be an investment for the future as some of these new workers will have the ability to help the business down the line.
Or perhaps, your business is struggling with the opposite issue and you don’t have enough skilled workers. If that’s the case, you will really be limiting the growth of the company by refusing to hire. This is something that should be looked into as soon as possible, where you should decide between training current employees or expanding the team.
By understanding these signs and their impact on the business, you’ll be in a position to make better hiring decisions. Growing your team can help you grow your business, and when done strategically, investing in new hires can not only save your company money but can also will help you make more.
Looking for workers? Contact your nearest QPS branch to learn how we can help!