When to hire that first employee: a chicken-and-egg debate GlobeBusiness
Alicia Liebregts and her business partner were 'looking for ways to free up our time and grow our business, versus getting bogged down in the day-to-day details,' so they decided to hire a contractor.Alicia Liebregts knew it was time to make her first hire when she encountered a somewhat pleasant entrepreneurial predicament about a year and a half ago.
It turns out that concern was all for naught. Hatchery continued to boost its revenue, and the four-year-old firm now employs six contractors. From there, business owners must navigate the complexities of the recruitment process, put effort into employee retention and engagement and cover a raft of related expenses, from payroll remittances to vacation days and benefit costs.In other words, it’s a decision not to be taken lightly, but one that’s essential if an organization is to go from tiny startup to growth-oriented company.
According to Pierre Laplante, a partner at the small business consulting firm NuFocus Group Inc., in Dieppe, N.B., hiring sooner rather than later can help CEOs avoid making hasty recruitment decisions that could result in a negative impact on the company’s performance.Story continues below advertisement
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