Expanding Your Team To Harness Growth Opportunities
The job of a business leader is never done – that inbox never seems to be clear – and the project management software is always humming with activity. A leader has several priorities, including strategic initiatives to fuel the growth of the organization. The strategy may be the essential driver of business activity – but is that strategy reflected in hiring decisions – most importantly whether or not to bring someone on board?
There are those ‘sweet spots’ when hiring is the obvious step, such as when the volume of business threatens to swamp the organization, or when specialized skills are required. However, these hires can be classed as ‘reactionary’ – the big question is whether or not your organization has a strategically sound plan that will guide the employee search process. If you’re in urgent need of creative advertising talent, you can use the help of advertising recruitment agencies to find new prospective employees.
In this piece, we will be looking at three signs that may indicate that it is time to start the ‘new hire’ process.
Sign 1: You may find yourself working furiously on tactical execution rather than on strategy, development, and research – these areas also require focus and time.
It almost goes without saying that you should not be bogged down in administrative functions – but this is about more than becoming fixated on the mundane.
Some warning signs are when you find yourself:
- Engaged in constant troubleshooting
- Putting out fires and dealing with crises on a constant basis
- Connecting the dots of project implementation or department functionality
This can often be ascribed to the inevitable growing pains of any company, however the above can also be a sure sign that it’s time to expand – creating some much-needed space between the executive function and day-to-day operations affecting profitability. This can be achieved by bringing onboard management or by hiring employees with specialized knowledge.
Any time spent brainstorming what the company needs and exactly what a candidate for employment needs to bring to the table is not time wasted. The process may have to be addressed in order to streamline the process of hiring in order to avoid the executive becoming enmeshed in tactical operations and ensure that new hires provide the business with value.
Sign 2: You are in search of greater market share and the opportunities presented by new markets. Your brand needs to grow with these market expansion initiatives – and that may require new team hires.
This is not a case of questioning the expertise and drive of your current employees. There simply comes a tipping point at which additional human capital is a requirement in order to manage expansion. New hires do cost a significant upfront expenditure, however, the long-term benefits from growth far outweigh this cost.
Your goal may be to capture more market share, or perhaps it is these new markets that are attractive. If it is the latter, then your employee mix may have to change, but the fact remains, you are going to need new blood.
Ask yourself the following questions when you are contemplating the future of your company:
- Does the organization require more employees in certain pre-existing roles?
- Are new hires required for roles that should be created to meet new organizational goals?
- Are certain trained professionals from different industries required to address the needs of new markets?
Once the executive is in agreement about the need to hire then answers to these questions will guide the organization’s next steps in the talent search.
Sign 3: Employee burnout is becoming a real threat.
Take a good, long look at your current employees. How would you rate their performance? Talk to team members to find out their candid opinions on workload and capacity.
It’s useful to simply take a step back and observe – and get that essential feedback. It is not for nothing that people are called the greatest asset of any business. They have perspectives that can provide real insight into the daily requirements of the business.
If team members are giving it their all – and can still not cope with workloads then this is a sure indication that workforce numbers need to be increased.
The ins and outs of knowing when, how, and who to hire can be complex, but help is at hand. Contact a team of recruitment experts who can support the growth of your business by providing the right human capital – and prioritize this action as part of the strategic plan.