There's no doubt that COVID-19 has had a significant impact on small businesses. But contrary to what you may think, now can actually be the perfect time to start a new business. Armed with the right tools, you can start down the path from business idea to successful startup. Follow our 16-week series to gain all the insights you need to Start a New Business Now.
Here’s a sneak peek at what you’ll learn in Chapter 10.
Employees are the lifeblood of many businesses. They empower entrepreneurs to focus on business growth rather than daily tasks. They interface with customers, make money for your company and even innovate new ideas that impact your efficiency and bottom line. When you hire employees, you don’t need to wear all the hats – only the ones that help you grow.
Still, you might find the idea of hiring and managing employees daunting if you’ve never done it before. And, as a budget-conscious startup, you need to answer some critical questions before you draft your first job post:
- Do you need employees?
- Are there other, more affordable options for getting help?
- How many employees do you need?
- How much do employees cost?
- What legal obligations come with hiring employees?
- How can you attract top talent to your startup?
- How can you keep employees safe during a pandemic?
- How can you position employees for organizational and individual success?
In Chapter 10 of How to Start a Business Now, you’ll get proven tips for hiring and helping employees for your startup. This free resource covers:
How to determine if you need employees
Answer a series of questions to help identify whether you need employees. Some startups are well-suited for sole entrepreneurs; others might thrive on contractors or agency partners. In some cases, you can launch without employees and hire them as you grow. And, some businesses need employees in place the day they launch. Chapter 10 will guide you toward the right decision for your startup.
Other ways you can get help
Employees aren’t the only options. You can also hire contractors or partner with agencies to perform business-related tasks. Chapter 10 explains the differences between employees, contractors and partner agencies – including the benefits each offers to startups – so you can decide which is best for you.
You’ll also compare examples of how different types of businesses can leverage a mix of employees, contractors and partner agencies to operate their companies. Find out which types of tasks are best delegated to employees, contractors and agencies, and see how a restaurant, software development firm and clothing retailer might differ in their approaches to hiring help.
How much employees cost
Employees can offer tremendous benefits to your business, but they also represent significant expenses. Chapter 10 details how to project employee salaries, including additional expenses such as employer taxes, workers’ compensation, insurance and benefits so you can determine how much employees cost and whether you have enough startup capital to pay them – and yourself.
How many employees you need
It’s not always easy to figure out how many employees your startup needs, but Chapter 10 can help you break down your operational needs so you can identify opportunities to bring employees in and free your time to focus on your business.
How to hire rock star employees
Making the decision to hire employees is the easy part; the next step is to find and attract the right candidates. Chapter 10 of How to Start a Business Now details best practices for hiring and training top talent in a post-COVID world, including:
- How to write an attractive job description
- How to save time and money with automated job postings
- How to conduct remote interviews
- How to onboard employees and avoid critical HR mistakes
- How to develop standard operating procedures
You’ll also gain insight into how diversity drives revenue, and how ongoing employee education impacts profits (hint: it can yield 24% greater profit margins).
How to care for (and retain) your employees
Employee turnover can be a major problem for small businesses, especially those that can’t afford to pay top salaries. If you want to foster long-term loyalty, you need to care for your employees and implement policies designed to retain your top talent. In Chapter 10 of How to Start a Business Now, you’ll learn:
- How to empower employees so they feel like valued members of your company
- How to create a positive work environment
- How to offer opportunities for career advancement – a strong retention strategy
- How to promote fairness and equality, and avoid the discrimination that plagues some workplaces
- How to keep employees safe and protect them from the coronavirus and other threats
You’ll also learn why you should consider allowing employees to work remotely (and why remote employees are productive employees). Chapter 10 also covers critical employee concerns and what you can do as an employer to mitigate employee anxiety to foster a happy and productive environment.
Employees can put your business the fast track to success and free your time to focus on business growth and development – but there is a lot to consider before you make your first hire. How to Start a Business Now eliminates much of the guesswork so you can be confident in your hiring decisions, employee policies and retention strategies. Get the help you need to succeed with How to Start a Business Now. GET STARTED TODAY.
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