It’s official: your small business is a true success. You have the leading edge against your competition, your business is growing and you’ve jumped from a couple employees to more than you imagined. While this is exciting it is also scary if you don’t know what steps to take. What to do next? Managing new employees while continually growing your business is hard work. In this post you can learn the top things to implement right away when you double your staff size.
- Adopt a Policy and Procedures Guidebook
Each company should have a document available for all their employees outlining company expectations. Think of this as a rule book that has clear and concise guidelines of what you will and will not tolerate as a business. This is a vehicle for you to ensure commitment from employees as well as create a standard to follow. Have employees sign a document of understanding after they read it. This will benefit you and the employee in the long run.
- Hire a Human Resource Manager
If you are adding more staff, make sure to set aside a position for HR. Every small business should have that one person to filter employee concerns, challenges and daily requests. Having an HR representative is a vital piece of employee satisfaction in the workplace. HR can mediate and act as your conduit to more effective communications with your employees. If you’re on a budget and can’t hire a full time, in-person staff member, you can find plenty of virtual HR companies who can work with you to help support your new, growing staff.
- Offer benefits
The costs of healthcare and other employee benefits are skyrocketing, but offering employee benefits can help you attract new talent and retain existing staff. Employees that have medical benefits often find that perk too valuable to lose, so they stay longer in the job. In addition to healthcare, consider offering 401k matching and/or profit sharing. 3%, 4%, or even 6% company matching helps and goes a long way. It keeps people working as they see their retirement grow. It is a win-win situation when you have employees that are appreciated.
- Conduct Training
New staff want to know how to do their jobs well. Empower your employees to be their best by training them on their specific roles and minimize overload. It’s also important for new employees to learn about the history, mission, goals and future forecast of the company they work for, so training is a great time to share your business’s story. Remember, these folks are new, but they have value to add to your growing business right away.
By taking these steps you are setting up for success as you task out the next move for your growing business. Employee satisfaction, consistency and communication are vital in expanding, and it is important to remind yourself why you are growing and why you are where you are today. Ultimately, success will continue if you hire the right people for your team and treat them well.
Need to get your ducks in a row before your business’ busy season? Let IOU Financial help you secure additional capital so you can hire during your slow season, get employees trained, and serve more customers when demand is high!