Many businesses today have a hard time finding the right people for the job. And, when they finally do, they have a hard time keeping them. Also, knowing when to hire your first staff person can be challenging.
When to Hire Your First Staff/Team Member
Looking back, if there was one thing I would do differently in running my business, it would have been to hire staff sooner. Many business owners fail because they think they need to wait until they have a steady reliable income before hiring staff, which is often far too late. If you hire the right person, he or she will more than pay for himself or herself in a very short period of time, which will free you to do the things that bring more money into the business. If I had done that, I would have seen success much sooner.
How to Hire and Keep Employees
When employees enjoy their work, odds are they will do a better job and stay with the business longer. I believe many people spend more of their awake hours at work than anywhere else. And life is too short to not enjoy what you do. Here is a proven strategy that I used in my business that cannot only help you hire the right people, but better assure they will stay with you for the long term.
I knew I wanted and needed to grow my business. But every time I tried to change a service, process, or technology, instead of embracing it, the staff complained and even told me why we should not do it. I realized the staff I had in place would not be able to help me take the business to the next level and beyond. It was time to find the right people that were willing to embrace change and do what it takes to continually grow the business.
Imagine what it would be like to have a business where everyone is doing what they love to do and are great at it. In a perfect world, that is what a great business would look like. However, the world is not perfect. To have a better running business with everyone happier at work and therefore promoting happier, loyal clients or customers, business owners should continually work toward this goal.
Here is how I hired new people, the right people, and kept them for the long term.
First, I thought through all the things I do in the business that I absolutely love doing and I am good at it. If I did those tasks all day, I would leave at the end of the day energized and feeling great about going to work.
Next, I thought through all the things I do in the business that I am good at, but hate doing and if I had to do them all day I would be miserable.
And lastly, I thought through all the things I do in the business that I don’t like doing and that I am terrible at and someone else would be much better at it than me.
As a small business owner, I needed to be clear on my answers to these three questions. Hiring a clone of me, if there was one, would not work. I needed people that loved to do the tasks the business needed done and that I should not be doing.
You may have heard the saying “Hire for personality and train for skill”. This is so true for many businesses. You cannot change who a person is, but if they have the right attitude and work ethic, you can teach them almost anything.
During the first interview, I asked all the standard hiring questions which enabled me to narrow the number of potential candidates. During the second interview, I asked the same three questions I asked myself. The goal was to hire people that enjoy doing the tasks that the business requires.
With the right people in the right positions doing the right tasks, you set yourself up for a more efficient, happier, and cohesive business.
Also, keep in mind that the old saying “you get what you pay for” is so true as it applies to how you pay your staff. Hiring the right person is only part of the equation. Hiring low-cost staff can be a mistake. High turnover can cost you more than paying existing staff appropriately. Paying your staff at the right pay better ensures they will stay with you for the long term and be happy in their job. Consider researching what other companies pay for similar work, to learn what is an appropriate pay range for your staff.
It is imperative that everyone “pulls together” to get the job done. Especially in today’s economy, excellent customer service is a must. If you have the right people doing the right tasks at the right pay rate, you are setting your business up for long-term success.
Nancy built a business from scratch to $200 million in assets under management, before selling it. Now, as an international speaker, award-winning author, business coach, and for 2018, 2019, 2020, and 2023 a delegate to The United Nations for The Commission on the Status of Women. Nancy uses her over 35 years of personal, business, and financial knowledge to help business owners do a better job for their clients/customers while improving their bottom line by an average of 200%.
Nancy has been quoted in Money magazine, USA Today, Forbes, US News and World Report, and has been a speaker for Pfizer, General Dynamics, Ameriprise Financial, Investment News, Chambers of Commerce, The US Navy, Three Rivers College, and many others.