The hiring process is notoriously difficult. If your company grows, you’ll need to make room for new employees sooner rather than later. Yet, if you add people to your team before they’re necessary, the costs can be high – and distracting when you’re already busy with your growth.
Executive recruiting services can help you fill key leadership positions and advance your company’s growth strategy at the right time. Here are the indicators that it’s time to start looking for new talent:
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You Have a Personnel Shortage
Companies with too few employees may benefit from growing their human capital. If you’re still sitting on a bench of vacant seats, it may be time to add a new hire or two.
Examine your present staff’s capabilities to determine whether you need to add extra support staff. If you lack the people you need on board, your company could suffer from future business challenges.
Look at the duties that your employees are responsible for and how long it should take them to complete them. While it’s great for your employees to be efficient, the volume of work may need to be adjusted if specific tasks go undone.
You Need To Expand
The need to expand is common with growing companies. Do you have a significant project on the horizon? Is there an upcoming expansion that will require additional sales and marketing support?
If you’re planning on expanding your company’s scope, you must prepare for the challenge ahead. The departments that provide most of your revenue may have reached their capacity if your income growth slows down or stops.
To jumpstart your profitability, identify the business functions that most influence your sales growth and consider growing those teams. Look at every department, from accounting to product management, and determine whether new hires will help you reach your goals.
The Emergence of New Opportunities
It’s common for companies to scale just as their business expands into new markets. As you grow, more opportunities present themselves. The most innovative companies, who may have cruised past competitors in revenue, will sometimes find new ways to gain market share.
As your company grows, you can explore new revenue streams that are seemingly available, but never before tapped into. This may be an opportunity to take your company in another direction – one that will earn higher profits than your existing model.
Executive recruiting services can help you hire industry experts when ready to move forward with a new strategy. These professionals have the industry knowledge and skill set to build your organization from the ground up or redesign a successful system.
Overworked and Overburdened Employees
Consider the burden of your workforce when you decide when to add new personnel. You should see when your staff is finding it difficult to cope with the demands of their work, experiencing high turnover, increased sick days taken, and more employee complaints.
Observe how much extra time your workers are clocking in and how that amount has evolved over several months. You should also evaluate the morale of your personnel. If working overtime makes people more exhausted and burnt out, their output for the organization will not be at its maximum.
To enhance staff morale and ensure that they aren’t working too hard, you need to hire new personnel and help your company develop in a way that’s sustainable for both you and your crew. Employee retention is crucial to growing your company and providing top-notch service.
Additional Skills Required
There are always new skills that your company will benefit from – perhaps in new marketing techniques, a more robust IT department, or a more strategic business model. While growth is never one-sided, your company may need to expand the skills of its existing personnel to keep up with changing times.
Executive recruiting services can help you find the right people to grow your company’s capabilities. For example, if you’re focused on improving your digital marketing skills, these professionals can identify the most qualified talent with the right skill sets and experience.
Missed Deadlines and Meetings
Constant delays and missed meetings create a negative impression in the eyes of potential clients, who may subsequently lose faith in your capacity to live up to their expectations. You must re-evaluate your daily routine if you spend much of your working day in a chaotic, fire-fighting state.
If you notice that the workload is piling up despite your best attempts to keep it structured, it’s time to start hiring. Bringing more hands will help you keep up with your daily tasks and improve efficiency.
You Have to Reject New Work
While turning away new business opportunities is not a good thing, you may need to postpone specific engagements if you’re dealing with an overwhelming workload. If you cannot commit your employees’ time to new demands, you might need help from outside consultants or executive recruiters.
Before rejecting promising jobs, ask yourself if the work is beyond your company’s current capability. If this is the case, you must evaluate whether new hires are needed to take on a more challenging workload. This approach can help you optimize your time and resource allocation.
Poor Customer Service
If you have to deal with angry customers regularly, it could be a sign that your company’s team could use a professional boost. Inadequate staffing may lead to customer dissatisfaction or the loss of potential clients whose inquiries go unanswered. As such, you must examine your customer service department and determine whether there is room for new hires to expand.
A company that treats its customers like royalty can pay huge dividends by generating positive feedback. To take this opportunity to the next level, consider engaging an external applicant pool to help fill specific roles.
Wrap Up
Determining the ideal moment to expand a business can be challenging because every company has different demands and difficulties. Businesses that scale will eventually reach a stage when they need to hire new people – and fast.
Executive recruiters can help you decide whether new hires are needed, identify ideal candidates, and facilitate the hiring process once the time comes.
