As the saying goes: Timing is everything. And that certainly holds true for hiring. Hire at the right time and you can ramp up productivity and profits. Hire at the wrong time, however, and you could be facing increased pressure and overhead, not to mention a cash flow crunch. So how can you tell it’s really time to hire? Start by looking for these signs:
Sign #1: Unhappy customers.
As one of the top recruitment firms in Overland Park, Morgan Hunter knows you can’t make everyone happy all of the time. However, if you’re seeing an increase in customer service complaints, unfulfilled orders, late shipments, or phone calls that aren’t returned, then it’s a sign that quality is slipping and your staff is stretched too thin. If this continues, your company’s reputation could take a serious hit.
Sign #2: Overwhelmed employees.
There are times when employees have to step it up to complete an important project. However, if you’re noticing an uptick in absenteeism, or if once-star employees now seem disengaged, it’s a sign of burnout. You can’t expect to keep your people stretched to the max, year-round, and continue to retain them. They’ll eventually move on to greener, less stressful pastures.
Sign #3: You can’t take on lucrative opportunities.
A large new contract just came your way with a company that’s ready to sign on with you. The trouble is: you don’t have the capacity to service their account. When you’re turning down new work and opportunities – based on lack of capacity – it’s time to hire. If you don’t, your company will continue to lose more business.
But can you really afford to hire?
You’ve seen the signs above. But before you take the leap and gear up for hiring, it’s also important to ensure you can sustain the position once you’ve hired for it. Beyond salary, it’s important to factor in the cost of:
- Recruiting and hiring (including tangible costs, like advertising, and intangible ones, like interview time)
- Benefits, compensation, and employment-related taxes
- Training costs
If you can’t afford the expense of added employees, even if you’re stretched thin, then now is not the time to hire. The good news is that if you have a trusted recruitment partner, they can give you access to workers on a temporary basis. You get the people you need – only for the time period you need them, all without an increase in fixed overhead.
If, however, you have the resources to support a new hire, then your next step should be to create a hiring plan. This should include the job description and candidate requirements; where and how you’ll target and recruit candidates; who will be involved in the hiring process; how you’ll evaluate candidates; and how you will train and onboard new staff.
Don’t have an in-house HR team, or the time and resources to create such a plan? Morgan Hunter can help. As one of the oldest and largest recruitment firms in Overland Park, we pride ourselves on the service we provide. When you partner with us, we will take the time to assess your company and staffing challenges in order to develop an effective plan and provide you with the candidates you need, where and when you need them.
If you’d like to learn more, let’s talk.
Connect with Morgan Hunter today and tell us more about what you’re looking for in your next hire.