Just because a small business can't afford to offer its employees the same benefits package as a large corporation, doesn't mean it can't come up with creative ways to compensate when cash isn't always available.
As your company grows and your employees become more comfortable with their roles, you might find that it's a convenient time to start hiring summer interns as a form of recruitment. Interns make for great job candidates for a number of reasons.
Helpers do what you say, while good help does what you need, without you saying anything. People who can help you the most are actually smarter than you, at least in their domain. Top entrepreneurs spend more time putting the right team in place to accomplish their objectives than they spend on any other components of their job.
If you're in the market for a job, you know the application process is critical. It's your chance to sell yourself to the employer, to prove that you can do the job better than anyone else.
No entrepreneur lives in the utopia of having zero turnover (although sometimes they might like to make it seem that way), but certainly making the right staffing decisions by putting people in the right roles can allow your startup venture to scale quickly. The wrong staffing decisions can leave your new company mired in constant unplanned change.
One of the hardest but most exciting things about being a young entrepreneur, first-time business owner, or even a startup manager is the hiring process. But there are a few things you have to think about before green-lighting a new startup employee, especially in the earliest stages of starting up.
How many of us have “hired” independent contractors over the years, a bit worried over the gray area between employee and contractor as defined by the IRS? I’ve experienced the results of a wrong decision, and the IRS and state agencies are not forgiving in their pursuit of penalties, interest, and (most damaging) assessing a company with both employer and employee taxes when reclassifying the person as an employee.
When you’re looking to hire new employees, you want to write ads for the open positions that will draw great candidates to your business. You want candidates who are both strong and fitting for what you’re looking for. An effective help wanted ad will help you successfully achieve these goals.
When you started up your business, it was probably not because you love running your own human resource department and wanted to deal with hiring and payroll issues. These days, many small companies are using leasing firms to handle many of their staffing issues.
Employee turnover is more costly than you think. Every businessman knows at some level that it’s easier for them if they can manage to keep their current employees than to need to find replacements. However, the cost of staff turnover is surprisingly high, and many small business owners don’t fully realize just how expensive it is to replace an employee.