Early economic signs for 2011 are fairly promising. So, is it time to hire again? Unless you’re a fortune teller, there is no sure way to tell.
Deciding when it’s the right time to hire again can be challenging. With fluctuating workflows and an uncertain economy, you don’t want to hire too many employees and not have enough work for everyone. On the flip side, you don’t want to hamper productivity by having too few employees on staff.
So how do you know when it’s time to hire again? Here are some questions to ask yourself:
Are employees calling in sick more and more?
If there’s been a recent rise in sick time at your company, it may be caused by an overworked workforce. Your employees may be doing too much with too little.
Are employees taking advantage of vacation time?
On the flip side, when employees are not taking the time off they’re due, this could also be a sign of an overworked staff. They may feel like there’s simply too much to do, so they can’t take time off.
How many times over the past couple of months have you missed deadlines?
If deadlines are missed on a daily or weekly basis, then that may be a sign you’re understaffed.
Are overtime costs consistently on the rise?
If your overtime costs are going up on a regular basis, then you may be understaffed. You simply do not have a large enough workforce to meet the needs of your workflow.
Have you turned down new opportunities because you don’t have enough people?
You’ll lose your competitive edge without the right people with the right skills in place.
Are you following your business plan?
You created a business plan for a reason. But if you’re not following through with it, it may be due to a lack of time and resources.
Now that you’ve asked yourself these questions, you should have a better idea about whether or not to hire. If you have questions – or are looking to hire additional full-time or temporary staff – please contact Josephine’s Personnel Services. As one of Silicon Valley’s leading employment agencies, we can source, screen, and hire, so you can focus on other priorities, like running your company.