12.22.17

Business Briefing: Hiring in the new year

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Is it time to grow your business by adding employees in 2018? Here are factors to consider to ensure you make the right hire.

First time hiring?

The decision to add your first employee means you are committed to the ongoing costs of salary and benefits. The Wall Street Journal’s How to Hire Your First Employees Guide advises caution. They say to consider if you really need a new hire or just outsourcing. Also, look for someone who is flexible and used to smaller work environments.

Sweeten the pot

Money is not the only thing you can use to entice talent. Small Business Trends reports that better insurance, flexible hours, more vacation time and work-from-home options can persuade candidates to take a lower paying job.

Tailor the job

One advantage small businesses have over large ones is less specialization of roles. Your flexibility could be the tipping point in your favorite candidate’s decision. Let them know about the breadth of the job. If they have a particular interest, structure the job to encompass it.

Hire slow?

Many business owners follow the mantra “hire slow, fire fast.” You must take time to ensure the candidate has the skills you need and is a good fit. However, if you take too long, you may miss out on your top candidates. Forbes contributor Liz Ryan says, “They won’t stick around. They have other opportunities. … You don’t conduct business in a vacuum.”

Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. We’re here to help you grow your business!

 

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