In conjunction with a business loan, many companies choose to expand their businesses by adding more workers to the fold. Though you’ll have to factor in additional expenses due to wages, it could be time for your business to start growing internally to better accommodate the needs of customers.
Deciding who and how many workers to hire can be difficult to ascertain, however, your company can only be profitable to a certain extent without making the move to add more employees. The key is to make the hiring process an efficient and effective mechanism for growing your company to ensure you’re not employing the wrong people.
A bad hire can bring down morale of other employees and lead to less revenue because poor performance can become an ingrained culture. That’s why every new hire should be thoroughly vetted, with every precaution taken to keep the integrity of the company in tact while onboarding new workers.
Here are five ways to keep your hiring process on the right track:
- Develop your own mantra
Every potential hire should become well-versed in your existing company culture. This can only happen if you have a fully developed mantra about who your company is and where it intends to go in the future. By laying down these initial foundations, you can then tailor the interview process around seeing if someone would be a good fit.In many cases, someone with extensive experience may not bring as much to the table as you originally expected because he or she has a bad attitude or poor work ethic. Certain characteristics are just as important, if not more so, than applicable skills. If you intend to expand operations considerably in the coming years, look for workers you can build a team around. Don’t just settle for the easy hire.
- Ask tougher questions
The only way to know if a hire will work out is if you can identify in them the traits your company seeks. To do this, you can’t rely on tired questions that every applicant expects. Ask about their previous work record if they have a habit of bouncing around jobs and why they chose your company over other competitors.Further, ask applicants what new ideas they might try to implement into the company and how they would handle extreme situations, like an irate customer or the loss of a client. Any hire can hit a home run when you lob them softball questions, but if you actually force applicants to come up with more creative ideas and solutions, it helps you dig deeper into their minds and potential future work habits.
- Utilize feedback
If your company has a history of high turnover or employees not meeting a certain standard of performance, then you could be on the wrong track to start with. Your previous hiring process likely isn’t working. To correct this issue, you should switch up your approach and bring in other managers to conduct the interview. Having multiple people in the room asking questions provides a more thorough and transparent hiring process.Also, speak with your current employees to see which kind of people they want to work with on a daily basis. Use the input from both employees and managers to improve hiring.
- Use references or referrals
In many industries that rely on manual labor, it can be easy to just check the work history and experience of an applicant and plug them into your work equation. But hiring shouldn’t just be about filling gaps and cycling through employees to keep production moving along. Rather, each new hire should be seen as an investment.You are putting a large amount of effort, time and money into every employee, which is why you should rely more heavily on the advice of current employees who have already proven their value to the company. If a worker serves as a reference to an applicant, you should prioritize that particular hire because it is much more likely to work out in the end.
Call references listed on applications and gather as much information as possible regarding the capabilities on an applicant before moving forward with the next stage of the hiring process.
- Compare applicants of different backgrounds
You never know who will end up actually surpassing your expectations after the interview. Just because someone doesn’t have direct hands-on experience with a given machine, doesn’t mean they can’t learn quickly and become more productive over the long haul compared to someone who already has experience. Only pulling from the same pool of skilled workers will result in the same hiring errors you may have made in the past.Opening up applications to people from different work backgrounds can be a great means to add outside contributions to your company, protecting your business from growing stale and complacent.
For more help on growing your business, National Funding can provide the business financing you need to succeed.