We know the scenario – You started the company with no external funding. Well, perhaps some help from ‘bank of friends & family’ but from that point you have bootstrapped your business. You are probably paying yourself and your co-founder a minimal salary so the thought of increasing your overhead and actually hiring someone brings a look of horror to your face – literally; yet this is what you must do to grow. Here are five reasons why:
Human Resources for small business – Key Advantages
1. Increased productivity – How much work can you and your co-founder do? Having another team member will allow you to do more work as a team and cover more ground.
2. Working smarter – Should the Founder of a company still be updating the company mailing lists and setting up newsletter distribution? Perhaps not – another team member can take away entry level task and free up your time to work on more business development and bringing more clients/ customers on board i.e. working smarter.
3. Business involves risk – Yes, the act of hiring someone means that you are making a commitment to them but you are not promising them forty years of employment and a carriage clock when they retire. The economy in the UK has been in recession since 2008 and any new team member will appreciate that there can be no cast iron guarantees.
4. Part time option – Worried that you do not currently have enough work to fill the diary of a new team member? Why not bring them in on a part time basis? This will give you an opportunity to assess workflows and create new work priorities for all team members.
5. Internships – Internships are a wonderful way to bring in new team members and immerse them in your company culture and you have the opportunity to hire them permanently should the conditions and the chemistry be right.
So what are you waiting for? You need the right team and strategy for your business to grow so now more than ever you need to recruit. Marketing Fundamentals Ltd will be hiring relatively soon. More details will be revealed via this blog.
We hope you find this information useful.
Marketing Fundamentals Team