Seeing your business starting to grow is an exciting moment. As a founder, you will feel that you will succeed, and your business will grow bigger. The feel of accomplishment will come when you got a stable order from your customers. It will be better if the rapid gain of demand for your product or service follows.
Afterward, you start to get overwhelmed to fulfill the existing demand. That is the perfect moment for you to hire someone.
For a new business owner, hiring someone for the first time is challenging. Most of them will feel nervous because they want to look professional and promising. But the others might feel nervous about whether they can hire the right candidate to become their employee.
Therefore, here are the hiring stages for a new business owner.
What to Consider and Prepare
Before you create a ‘now hiring’ poster or post, here is the list for you to consider and to prepare.
Find the reasons why you need to hire someone
You have to find an exact reason why do you need an employee. The first step, start by making a list of the job descriptions of your company. For example, with the growing demand, you need someone to manage the customer’s orders. You will need someone to get in touch with every customer’s needs and the other necessities of your company. Write a list of them. That way, you will be sure of what your future employee will do to help you. According to the list, you can visualize what kind of employee you need for your company and how many employees you will hire.
When you have prepared the job descriptions and settled that you need to hire an employee, get the Employer Identification Number (EIN). It is to identify the business entity, and you can apply them for free.
Define your budget
Hiring employees will cost you more than you think. You are not only budgeting for their salary. You have to put job advertising costs in your budget plan, recruitment and onboarding software, and the additional training you have to calculate on your budget plan.
Hiring employees also includes the company’s long-term budgeting plan. You have to add more operational needs in your office (desks, computers, stationery, etc.). If you will give health insurance and additional benefits to your employee, make sure it won’t go over the budget. Save yourself from drowning.
Thus, to avoid miscalculation, do thorough research, or consult with the professionals. Do not forget to research the standard salary of the required position. Make it attractive but fit the company’s budget.
Choose your candidate
Screening is a tough process when you are hiring. 62 percent of small business owners claimed that they made a bad hiring decision. It is either they are hiring the wrong person, or they hire too many employees. The regret comes when they realize that they can cut the number and make it more efficient.
For the first screening process, you have to recognize whether someone is suitable for a small company or a big company. It is because of the difference between a big company and a small company. In a big company, the job description will be more specific. While in a small company, it is necessary to have someone who can do multiple jobs at once. It is because you are running your company on a tight budget. It will be better to pay more on an employee for doing the multitask instead of hiring two or more employees.
Thus, when you are reading your candidate’s resume, choose the one with good multitasking skills.
The important note when you are screening their resume, make sure the information is not a fraud. You can search for your candidate’s profile on his/her social media. Conduct an assignment and an interview to verify their skill.
What’s Next After Hiring an Employee
The next step after hiring an employee, re-explain the job description of your company. Introduce your new employee to the work environment. Conduct an onboarding program and on-the-job training for the new employee. Tell them about the schedule.
It aims to set the standard of your employee’s performance and make them familiar with the surrounding. Remember to collect their paperwork before they start working. Next, observe their performance thoroughly, especially for the first three months. You will realize whether or not you are hiring the perfect candidate for your company.
You have to know what your company needs the most. Refrain from hiring too many employees and end-up spending a lot of money on the monthly salary. A miscalculation on the employees’ costs will eat your business from the inside.
When you are hiring the right person, you will save your company from further expenses, and you can grow your company according to your vision.