Your business is growing and that’s a good thing. It might be time to expand your workforce. This post will examine the signs that it’s time to hire more help.
The COVID-19 pandemic has put more than a crimp in our corporate efforts to hire new talent. Some are predicting more of a permanent crease this summer as unemployment rises to what some believe is over 20%, a rate that is reminiscent of the Great Depression. But there are signs that the economic engine that runs our country is trying to move forward again, as companies slowly begin to reopen. The reality is that, while things may be hard now, the American economy always comes back around. So, this means, at some point, your company is going to make a decision about hiring. Here are five indicators that may signal it’s time for your company to begin hiring again.
1. Growth is out there but you don’t have the staff to pursue it.
We believe when economic growth hits, it’s going to hit hard, but if your company finds that the cash flow is there but the staff isn’t, it’s time to consider hiring. Don’t let your lack of headcount stand in the way of growth opportunities. With markets likely to experience volatility, when the time is right, you need to jump. Having the right staff in place will help you respond quickly.
2. New business is making you worry more than rejoice.
When your company had a balance between new orders and the right staffing ratio to fill them, things looked rosy and every new contract was a celebration. But if your staff is worried about being able to get all the work done instead of opening a bottle of Champaign over your next contract, it should be a signal to your hiring team that you’re going to need more help.
3. Overtime spikes signal you need help.
Overtime makes it almost impossible to budget for payroll. These spikes can be detrimental to your business. If you notice that overtime is actually becoming more of the norm, it’s a good signal that you need to even out your balance sheets with a new hire (or a few new hires). Another sign could be that workers are taking the office home with them in order to get everything done. This is not a good way to protect your valuable workers.
4. Managers are pitching in to help.
When the workload is overwhelming, a good manager will pitch in to help their workers. If you see this happen on a regular basis, it’s a red flag. Kudos to the management team for pitching in, but this will also lead potentially to their burnout. Finding the right balance in your headcount will give valuable managers the time they need to truly lead their teams—instead of working on the front lines of your business.
5. Customer service complaints increase.
Your customer experience is the true measure of the health of your company. If you notice more unhappy customers who experience missed deadlines, a decline in work quality, poor communication, or an increase in errors, it probably means your current staff is overwhelmed.
If and when you experience any of these signs, it’s a good indicator that it’s time to begin hiring again. That’s where A.C.Coy can help. We have a long track record of helping organizations with the right talent at the right time. Get in touch to discuss our work today.
