How To Know When To Hire
We have talked about creating a community within a company and we have talked about 'Why The Employee Package Is More Important Than Ever'.
We have even talked about some of our favourite ways to hire.
But there is the question of should you or should you not hire?
In this post we are going to explore some things you should think about before you hire; whether that is your first hire or simply a new addition to the team, each new hire is equally important.
First up, let’s go to the root of it: why do you want to hire a new person?
Are you hiring to save time (an admin/ PA/VA type role)?
To increase sales (a business development role/ a strategy or salesperson)?
As a way to keep up with growth (something that is required to provide the service or product to your customers, for us that would be the Accountants within the Business)?
Have you done your forecasting?
Once you have established this, ask yourself (or your accountant can also help with this) to look at the business from a cash flow point of view: does the company have the cash flow to take on this new person and are they beneficial for growth.
We have seen this happen in many situations where after a cash flow forecast people have realised that they didn’t actually need what they thought they did, they actually needed something else entirely.
For example, instead of a full-time person, you may need someone part-time, or you may think you need an admin person, but what you need is an office manager.
Identifying this and deep diving into the systems and processes can really clear the fog. But it may not be hiring someone that you need at all, it may come down to streamlining your processes.
We once had a client meeting with a forecasting analysis, and together we implemented four processes that eliminated the need to hire at all!
Have you streamlined all of the systems and processes?
The point I am trying to stress here is the importance of tidying up your processes before you take on a new hire.
Aside from it (maybe) solving the problem, you will also not want to bring someone on with no structure.
Start with the small details.
Everyone’s time is precious.
Which leads me onto my next point: do you know what you ACTUALLY want them to do?
Have you planned their role and growth plan?
When a new member joins, it is fundamental to know what and where they will fit into the company.
What is the job spec?
What are the progression opportunities?
I used to work in recruitment, and we had a considerable amount of people who would come to us with no idea of what they really needed or wanted, or worse, had just grabbed a spec from Google.
So what is the problem with this? Surely a vague idea is enough?
Well, no, not really. Knowing what you want that new team member to do within the business helps set expectations and realistic salary guidelines.
Talking of fitting into the business...
Do they fit in the team?
The other thing to think about is how they will fit in with the existing team. Now, of course, this is not the ONLY basis you will hire someone, but it is worth thinking about.
How do they like to be managed?
How will they affect the dynamics of the team?
Are they a team player?
On the Mexico Cone Workation, we explored the idea of what does a Cone employee look like?
This process is similar to creating a client spec.
Now to be VERY clear this does not come down to anything appearance wise, this is very much to do with attitude, personality and willingness to learn.
You need to ensure you can help in the way they need help and vice versa.
You need to ensure they hold the same or similar values.
You need to ensure that you have the progression in place for what they need.
I hope this has given you some insight into hiring. Even with a background in recruitment, it can feel entirely different when you are hiring for your own company. It definitely feels more personal.
So, my last tips are to take it slow.
Go with your gut.
And be as open and honest as you possibly can... good luck!
About the author
Chloe Slade is the Marketing Manager here at Cone and focuses on creating content that brings business and lifestyle together. Chloe is a keen makeup lover, foodie and loves to work from luxurious destinations.