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Go and grow: 8 signs your firm may need more employees


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In the process of reevaluating the size of your staff? If so, you’re far from alone.

Nearly 55% of U.S. companies plan to make additional hires this year compared to only 46% in 2018, according to a survey by executive coaching firm Challenger, Gray & Christmas Inc. That’s not surprising, given that 63% of employers surveyed see this year’s economy as stronger.

“With the market at near full employment and companies making plans to expand or invest in technologies requiring workers with new or differing skill sets, it’s no wonder the hiring outlook is so positive,” notes the firm’s VP Andrew Challenger in the report.

Since your payroll is likely your greatest business expense, however, you’ll want to give serious thought to whether your firm’s bottom line will be better off with or without added staff. Here are eight key signs to look for, indicating that adding employees could be a wise, financially sound decision.

  • You’re turning down work. If you keep declining revenue opportunities because you simply don’t have staff capacity, you could be missing obvious chances to improve and grow your firm.

  • Your star players are distracted. You could be wasting valuable and expensive brainpower on tasks that could be completed by junior employees. When your most skilled people are consistently diverted from important tasks to complete busywork, you should consider adding support staff.

  • Overtime hours are racking up. Hiring additional staff may be cheaper than consistently absorbing the expense of overtime for current employees.

  • Customers are complaining. When your staff is overworked and trying to handle too much business at once, your standards of customer service can easily fall between the cracks. And we all know how hard it is to win back disgruntled customers.

  • Employee turnover is up. Many workers will simply find another job rather than confront you about burnout. In today’s tight labor environment employees expect employers to help them maintain an appropriate work-life balance, and you simply can’t afford to lose good people over unrealistically grueling workloads.

  • You and/or your staffers are noticing missed opportunities. Business growth often presents new opportunities for innovation and creativity that could create new revenue streams. Your employees may be enthusiastic about pursuing such opportunities but unable to find time to focus.

  • You’ve already vetted new growth options. Perhaps you’ve already decided now is a good time to take the calculated risks that could help your company expand, but your current staff lacks the education, skills and/or experience to make the expansion work. You recognize that you must hire at an entirely different level to realize your plans.

  • Your business can afford new hires. You may have been so busy keeping up with demand that you haven’t done the math. But now you realize your extra staff workloads are the result of added business that’s boosted your revenues. You confirm that the logical next step is to use those extra dollars to hire new workers to optimize all that new trade.

Need to better organize your accounting data so you can gauge your hiring needs at a glance? Talk to Gravity Software® to learn how you can personalize our cloud-based accounting app to fit your specific requirements — without the hassle of multiple databases or programs. Just say GO and schedule your online demo today!

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