Making the decision to hire someone can be very stressful on a small business owner. What if we pick the wrong person? Can we truly afford to add someone else to the payroll? What will we do if we don’t hire someone? How soon will we know we hired the right person? These and many other questions roll through the heads of business owners looking to make hiring decisions.
This is especially true when it comes to those “key” hires. You know, the folks who become your right-hand person. The ones you feel like you can’t live without. These key hires also tend to be the most “expensive” as many of our small business clients will point out. Not so fast.
So one of the things we’ve learned over the years is to break down a new hire into 30, 60, or 90 day buckets. When it comes to someone being “expensive” we will talk to the business owner about looking at hiring this person for 90 days vs. the entire year. That way you’re only making a decision based on 1/4 of that person’s compensation instead of the full year (e.g. a $25K decision vs. $100K decision for someone with a $100K annually salary). Why? Because you’ll know for sure by the end of 90 days if this person is the right one or not.
Here are some things we’ve learned over the years about bringing on new employees:
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