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When you first started out on your little entrepreneur journey, it was most likely you and you alone that was running the ship. You most likely didn’t expect it to get to the point where you were even having to consider hiring employees, yet here you are, reading this article. The journey you started with was never going to be the journey you finished with, especially if you have been putting in the effort to make sure that your company is growing and growing. But now it has come to the point where you’re thinking about starting your own team, you might feel like you’re a deer caught in the headlights.
Hiring your first employee - Although it might feel like you’re ready, you really need to think about how ready your finances are going to be.Tweet This
It can be such a nerve-wracking
How Ready Are Your Finances?
Although it might feel like you’re ready, you really need to think about how ready your finances are going to be. It’s not just the cost of having to pay their wages that you need to think about, it’s everything that comes with it. You need to think about any additional needs that they have, the equipment you’re going to have to buy for them to use, and even uniform if you want to go down that route. You need to make sure you have adequate office space, and sometimes that involves moving to somewhere bigger and more expensive. You’d then need to think about what you would do whilst they’re off on holiday, or whilst they’re off sick.
There are literally so many things that you need to think about, and that your finances needs to be ready for. In terms of the wage that you’re going to offer them, you really need to consider how you’re going to pay that from month to month. Because now two lots of wages will be coming out of that business bank account, and you’d need to make sure that you’re able to pay both you and them, even in those months where profit is going to dip. So have a good analyse, and see how much you could afford to lose, before not being able to pay one of you the wage. Obviously, you would have to lose out yourself, you couldn’t contract an employee to a wage, and then apologise and offer them less one month because things are a little slow!
What Type Of Person Are You Looking For?
This is such an important factor, because the type of person that you hire is going to play a huge effect on the type of business that you run. Considering it’s most likely only going to be you and the one person you hire for the time being, you need to think about the personality traits that you want. Do you want someone who is going to be so hyper-focused on their work, and always looking for ways that the company can be improved. Or would you prefer someone who is so relaxed, and will just do the job you tell them to do, without getting involved in anything else? If you’d like our opinion, you need the perfect mix of both.
“Managing a team can be hard and the more people that you are in charge of, the more difficult it can be. Staying in control of a large number of people and making sure that they are getting all of their work done on time is something which you get better at over time. You should, however, always make sure that your team respects you and that they know that you are there to lead rather than just be their friend. There are plenty of ways that you can help yourself to manage a great team so keep reading to find out more!” – How to Manage A Great Team
You need someone who is going to bring that fun vibe to the company, as well as being so relaxed that if you do hire someone else, they’ll make them feel so at ease. You don’t want to start your company off with someone who is going to be overpowering. Another great bit of advice, is look to hire someone who is so desperate for the opportunity to show an employer what they can do. Disability employment services is something you might want to look into, because there are some people who are just desperate to show their worth in the working world, but are being shot down left right and center, simply because they have a minor disability. But most importantly, just make sure that this person gels well with you!
The Legal Side Of Things
The legal side of things is what you really need to make sure that you’re getting right, because if there’s one thing that’s going to land you in really hot waters, it’s an annoyed employee who feels like you’re doing them wrong. So first of all, make sure that you contact an employment solicitor so they can help you write up a great contract. Making sure that your employees sign a contract before they get into your company is so essential, it gives you something to fall back on! You then need to make sure that you’re keeping things formal, and always keeping your employees best interests at heart. You don’t want to become too friendly with them that it can be deemed as creepy, but you don’t want to be too overbearing with them that it feels like bullying. As long as you’re paying the right, treating them right, and giving them all of the opportunities to progress, you should never find yourself in legal trouble over your employees.
Keeping It A Fruitful Investment
Finally, you need to make sure that this person is growing with your company, and keeping it a fruitful investment is easily done by training them up throughout the company, rather than limiting them to one role. Not only does this make it far more interesting for them, but it takes a lot of pressure off you, as you can easily split the workload of the company, rather than just giving them one role. As your team starts to grow and grow, it makes it far easier for people to take on managerial roles!