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Is NOW the RIGHT time to hire?

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Do you have a skilled team, that seem to be working harder but you are not seeing the ROI? Or you are working more and more hours and rather than increasing revenue you are losing clients? If these scenarios are keeping you up at night and you’re desperately looking for ways to grow your business, hiring a new team member may be the answer!

The following tips will help you identify if and what skills would be good to add to your team.

  1. Identify Time-Consuming Tasks

Ask your team to make a record of all the activities that are left unattended throughout the day and the ones that are taking too long. It will give you an idea of the tasks that are making your team members less productive. If the result is significantly alarming, it may be time to review how they work, this may mean a new team member to share the workload.

If there is nothing standing out ask them to keep a record of everything they are doing throughout the day at 15 min intervals (you don’t need detail just a couple of words so they can remember what it was). After keeping a log of the tasks for a week, review the tasks, you may notice many unproductive tasks, if you are reviewing for example a sales persons workload, you may notice lots of administration work, this is essential for the role though is not always the best use of the persons time, evaluate if there is a good balance between the admin and sales, if you are targeting there person to generate more sales this will also increase the amount of administration in their role. There are a couple of things you can look at 1. It may be worth splitting the role out and getting an admin person to help them or 2. Look at the system you are using, can you get one that automates a lot of the admin?

 

  1. Evaluation of Required Skills

Take a step back from the business for a moment, review you vision and where you are going, then identify the skill set required to bring your business to the next level. Breakdown the skills that are needed in your dream team and analyze the performance level of your current team. The results of all these evaluations will give you a wider idea of the skill set that may be missing from your team.

  1. Turning Away Work

Analyse the average of work that your company has to turn down due to the overload and lack of a team. Having too much work at your hands is a great problem to have, but turning away work can cost your business money and reputation. More capacity means more clients and eventually bigger profits!

  1. Delivering Low-Quality Product

Are you starting to get complaints from your clients that you have started to deliver low-quality products or services? Keep a track of the number of complaints you get and whether your product/service is delivered on time. If the numbers are significant, it may be time to hire a new team member and share the workload. When your employees are burdened with more than they can handle, the quality of work is bound to suffer.

  1. New Revenue Stream

Luckily, you have encountered a new revenue stream and don’t have the manpower to complete the job, hiring a new team member is probably the answer. For example, you’re providing a development service and a client asks you for a support. If you could have all that your client needs in one place, it will be beneficial for your relationship with the customer and profits to the company as well as keep the competition away. It is the perfect opportunity for you to expand the horizon of your services and create a team that has it all!

Making a decision as an employer to hire the right team member at the right time can be a challenge for anyone. Hopefully, these tips will equip you with the right knowledge and time to hire a new team member in your business and amplify your profits to a new level. Once you have decided to hire a new team member do refer to my 7 steps to hiring your dream team blog this will help you get the hiring process right!

Images courtesy of Stuart Miles, FreeDigitalPhotos.net

 

 

 

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