3 Reasons to Hire People Before you Need Them
Knowing when to hire labor can be one of the greatest challenges in growing a creative business, as you try to balance increasing profitability with adding staff. Here are a few reasons that you should hire people before you need them-not just as a resource but also as an investment in your business's future.
l. Create capacity for growth
If you're striving to grow your business, you'll need bandwidth-first, to grow by winning business, generating marketing, and networking; and second, to support the growth when it comes. The best way to ensure this bandwidth is by hiring people ahead of time, so you won't lose productivity and efficiency when you need more capacity.
2. Give your talent time to thrive
Some hires are total unicorns-the perfect fit for your culture with the ideal salary expectations and the exact skillset you need. However, most aren't! And that's okay. Hiring people before you critically need them gives your new talent time to adjust, adapt, and train into the team member you want them to be.
With a solid hiring strategy, you can find new staff who will fit in great, ask for the right salary, and transition into the role before it's at full demand. Added bonus: New hires are much more likely to engage-and stay engaged-if they can ease into the job. You know what's more expensive than hiring early? Turnover.
3. Plan for your investment
Make no mistake: Hiring ahead of the curve is an investment. It can be hard to take on additional hires at the cost of your bottom line, especially if you offer robust benefits.
Approach this investment as carefully as you would any other. Holistically consider your hiring plan and business development or sales strategy-based on your sales targets and outlooks, ask yourself what staffing you'll need and how long it will take to recruit, hire, onboard, and train that staff. Then reverse-engineer a calendar that includes both your anticipated sales and hiring. Finally, ask your accountant to review with you how these considerations may affect your profitability, when you can expect dips in profit due to your hiring strategy, and how quickly those dips will recuperate.
If you’d like help thinking through organizational planning, Syzygy can help you develop key insights from both operational and financial perspectives to determine where you1re missing support and how to get it for your business. Reach out today to learn more.