Many businesses don’t make it past the three-year mark. These companies fail for a variety of reasons; like an inadequately performing product or service, lack of revenue, and poor management. But if you’re a new business owner, there are ways to avoid the common pitfalls of new startups. One of the best ways to ensure strong business performance is by hiring awesome employees who are dedicated to helping your company grow and who share your vision. Below, we’ve assembled a guide and tips for finding the right people who can help your business be more successful and profitable.
Provide Great Benefits and Follow Labor Laws
Almost all prospective job candidates expect medical benefits, which is why it’s important to offer more unconventional perks. Consider giving employees unlimited PTO, flex hours, the option to work remotely, and free gym memberships to show that you care about a healthy work-life balance.
It’s also important to make sure that your company follows the laws. It might even be worthwhile to have a lawyer on retainer to ensure you and your business stay compliant as you grow. For example, you can’t force employees to work overtime without extra pay if they’re hourly. And you can’t fire an employee for getting pregnant. These are all instances where employees in those scenarios would have a case to take to court and the ensuing legal fight could bankrupt your business, forcing you to shut down.
In addition, all businesses must provide Workers’ Comp but it’s important to ensure that all of your employee’s claims are organized and filed properly. To do so, consider using Workers’ Comp management software.
Write a Clear Job Description
An accurate and well-written job description includes everything from required qualifications, daily duties, and reporting relationships. It also protects you from a legal standpoint because it sets up the standardized requirements for the position, so you can apply the same standards to all potential job candidates. In turn, this helps you avoid unfair discrimination during hiring.
It’s also important to list out any necessary certifications the position requires including licensing and education.
A job description can also show applicants potential salary ranges so applicants can determine whether or not the pay matches their expectations. This can save you from negotiation headaches later.
Vet Your Candidates
The hiring process can be long and arduous. If you’re a new business owner, you might not have time to vet potential candidates. But if you make a slap dash decision about a new hire, a bad egg can really hurt your company’s performance, especially if you’re a small team. To avoid a costly bad hire, consider relying on a professional recruiter or using recruitment software to automate the process. This will help you more efficiently sort through candidates so you can find a pool of applicants to bring in for an interview.
Create an Airtight Interview Process
It’s a good idea to first screen applicants over the phone before bringing them in. After a phone interview is conducted, it’s time for an in-person interview. Here are a few questions you may want to consider asking a candidate during the interview:
- Why are you leaving your current position?
- What are your salary requirements?
- What interests you about the role and our company?
- What challenges do you predict in this role?
- What’s your current pace of work at your current company?
- What does success look like for you?
- Why do you want to work for this company?
- How would you describe your leadership style?
- Do you have any questions for me?
Your interview questions should cover the candidate’s skills, past experience, and situation-based scenario questions. Go in prepared to each interview with a hard copy of the applicant’s resume so you can take notes. Whether or not you hire someone, make sure that you follow up and let them know if they got the job or not within a reasonable amount of time.
Your employees are the backbone of your company. Hiring awesome employees can help raise overall company morale and lead to more profits. A bad egg can cost you money and lead to other issues. With that said, hiring the right employees is essential for success. So, make sure you spend time vetting candidates that help you and your company grow bigger and more profitable.