Every company owner will admit to making mistakes. Whether it’s a colossal issue or simply forgetting to buy printer ink, failure is something you need to take on the chin and learn from.
We had a chat with The Accountancy Partnership’s (TAP’s) director, Lee Murphy, who offered some words of wisdom when it comes to hiring employees for your small business.
“The single biggest mistake I made in business was not investing enough time, money and thought when hiring really good staff. I made this mistake in the early days when I was recruiting for key people to join my start-up to help take it to the next level.
“Due to the rate of growth, those were especially chaotic times and I made the mistake of rushing the process and settling for staff I was not sure about.”
Lee added, “Suffice to say these choices ended in disaster and cost the company valuable resources which could have been better utilised elsewhere.”
So, how do you avoid making this mistake yourself? According to Lee, the key to a good hire is all in the time and effort you put into it.
“I learned this lesson the hard way and I now invest a lot more, ensuring that we attract the best of local talent; we now use specialist recruitment agents and create well thought out campaigns across multiple channels to increase our chances of success.”
“The quality of staff that work in and on your business will determine how successful it will become.”
“Therefore my top tips to budding entrepreneurs when hiring new employees are;
Instinct: Gut feelings go a long way when decision making, especially when those decisions involve people. Trust your instincts!
Try them out first: I firmly believe a short trial (even an hour or so) is crucial. Lots of candidates interview very well but may not be so good when it comes to doing the work. Tell the candidate a trial is beneficial for them too, especially if they are leaving employment to join your company.
Sell your vision: If you’re interviewing good people then the chances are they will have other options. This means they need good reasons to join your company over a competitors. Convey your vision for the company and outline a solid route to career progression for them. This can go an awful long way and may just seal the deal.”
Starting your own business? Don’t forget to take Lee’s advice on board when it comes to making your first hire!
What do you think of Lee’s top tips? Leave your comment in the section below!
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We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!