Four Signs It’s Time to Hire More Talent
Employees are the backbone of any great business’ success, but understanding the key inflection points at which you may need to hire more talent can be a challenge – particularly when you’re focused on revenue streams and brand recognition.
Staying attuned to these signals will not only provide opportunities to attract exciting new talent, but also allow you to better serve your existing employees.
- Customer demand for your services and/or solutions is increasing. Perhaps one of the most obvious indicators that you need to grow your team is revenue growth. If there’s an increased appetite for your business’ goods and/or services, it’s probably a good time to think about hiring additional talent. One caveat here: consider if your company’s growth is consistent. Certain businesses may see ebbs and flows during seasonal periods, for example. In those cases, you may want to consider recruiting for temporary positions, versus during true corporate growth periods, recruiting for full-time, long-term talent.
- You consistently pay employees significant overtime. At a practical level, this would indicate your team could use extra support. If overtime increases start to raise a red flag, your team is likely running low on bandwidth, and an extra hand or two would better disperse the workload and reduce significant overtime payments.
- You want to grow, and you need more help to get there. If your business’ goal is growth, you need to consider how talent needs factor into the strategy. For example, your plans may include expansion to new office locations (locally, nationally or internationally) or development of a new product set that requires a new, specific set of skills your team doesn’t yet possess. In these cases, you would need to recruit new employees to support these growth efforts.
- Customer service is lacking. If your team is burnt out and taking their frustrations out on customers, it’s a pretty good indicator that your business is understaffed. Customer service is arguably the most important indicator of a business’ success, and if it’s suffering, it could be because your team is stretched too thin. Consider growing your team(s) to support a better customer experience that doesn’t lead to frustrations on either side.
Please reach out to the Talent Acquisition Team at The MFA Companies if you’d like to discuss your company’s hiring needs.
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