Posted by Robert Half on 09 March 2015
With the improving economy providing a boost for consumer and business confidence, there's plenty of scope to grow your organisation in the coming year. The green shoots of recovery have turned into something more substantial in the last couple of years, providing cause for optimism for ambitious businesses. Providing you've got sufficient drive, a sustainable business model and a coherent growth strategy, you've got every chance of attracting new customers, boosting revenues and claiming increased market share.
But if your organisation is going to grow this year, the chances are you are going to need greater people capacity. This means attracting staff to your organisation. The skills, energy and experience and impetus provided by new hires can make a real difference, delivering an immediate boost to the bottom line. As well as extra man-hours, they can bring new expertise, ideas, allowing your business to offer more value to more people. So what exactly are you waiting for?
Here are seven ways a new hire can put a spring in your step in the coming months:
1. Providing extra capacity
Your existing employees are already working at full capacity, but are unable to hit their deadlines. As such, you're forced to pay overtime or provide an inferior service to your customers.
2. Relieving pressure
Employees are feeling stressed and over-pressurised at work due to the volume of work they are faced with and new contract the business is taking on. They can't take breaks and annual leave without missing targets. With new employees you can reduce their workload. Without new staff, your business will struggle to grow when resources are stretched.
3. Supporting development
You're missing out on efficiency gains because employees don't have the time to undertake training, adapt to changes in work processes and deploy new technologies. Hiring new people can free up time for your staff to invest in their own career development, which benefits everyone.
4. Filling workforce gaps
Staff attrition has left you short of resourcing in certain teams or departments. Or long-term absence means you have a gap in the workforce that needs to be filled.
5. Adding niche skills
You need niche/specialist skills to meet the demands of the business and differentiate your organisation from your rivals. The knowledge and expertise brought to the company by new hires allows your organisation to improve quality of service.
6. Investing in the future
You want to invest in the future of the organisation by recruiting graduates or young apprentices to learn the business. They may go on to lead the organisation in the years to come.
7. Achieving higher profits
If each new employee you hire increases the organisation's profit margin, there is a clear incentive to keep growing the business and add staff. The more people you have, the more money the business makes. Having additional specialists will help find and exploit new leads and drive profitability.
Permanent vs interim
When it comes to new hires and attracting staff, your organisation can be proactive or reactive. You can recruit additional staff members in preparation for growth, or you can recruit them when demand for labour exceeds your existing supply. While a new hire is beneficial to your business as they provide increased capacity and the ability to take on higher workloads, caution is needed to avoid recruiting a bad hire. Working with a recruitment agencies is one way to identify and minimise risk.
If you're looking to add permanent employees to your team, it pays to plan further in advance. This allows you to be thorough during the recruitment process - working out the demands of the business, designing a job specification, checking CVs and shortlisting, and then interviewing the best applicants. Even when you've offered somebody a job, you may have to wait a number of weeks - or even months for senior professionals - before they can start work, if they have to give a notice period in their current role. Anticipating spikes in demand can make it easier to conduct workforce management and ensure the optimum number of people are working for the organisation at any one time.
If your organisation needs to add employees at short notice, interim professionals are a valuable resource as they are able to get started and add value to your business straight away, helping to provide additional capacity for as long as you need them.