Knowing whether to grow your team is tricky. Should you invest in more staff and employees? Or just keep things the way they are? Here are four telltale signs that it’s time to expand your local business.
1. You’re Turning Down Work
If you are turning down work because you’re too busy, it’s probably time to grow your business. Hiring more staff might sound expensive, but it could provide you with a long-term return on your investment. Taking on more employees means that you can accept more projects from clients and generate more revenue.
“If you find that customers are turning their backs on you because of frustrations with your process, you may want to consider bringing another member onto your team,” says Inc.
2. Your Customers Aren’t Happy
Customer service is crucial for any small business. Research shows that 33 percent of Americans would consider switching companies after just one instance of poor customer service. Moreover, companies in the United States lose more than $62 billion every year due to bad service.
If you suddenly start receiving lots of complaints from customers, it could be a sign that it’s time to grow your business and employ more staff. Hiring more customer service employees, for example, will help you manage complaints and improve the overall customer experience.
Alternatively, invest in training for your existing customer service employees.
“Good service starts with your attitude and employee training,” says the Houston Chronicle. “After all, good service works from the top down, and employees who are specifically trained in the art of quality customer service are far more likely to represent your company in the way that ensures satisfaction and repeat business.”
3. You’re Experiencing a Sales Slump
If you’re struggling with sales, you might not have enough people on your team. Small businesses have to work extra hard to break into a new market, but growing your organization could make this process so much easier.
“Up to a point, it behooves small business owners to be resourceful and handle the lion’s share of the work,” says Mashable. “But before it’s too late and their companies lose out on its market timing, entrepreneurs need to hire in order to grow, even if that means taking on more costs.”
4. Your Top Performers Have an Increased Workload
Many employees take on additional tasks — extra responsibilities that don’t match their job description. However, if your top performers have too many obligations, it could be time to take on more staff.
Here’s an example: Salespeople in an organization have to carry out administrative work because the company lacks staff and resources. If this sounds familiar, look into adding more people to your team.
Research shows that an increased workload is the top cause of workplace stress. Hiring more staff, therefore, will result in happier employees and more productivity.
These are just four signs that signal it’s time to grow your team. If you’re turning down work, receiving customer service complaints, struggling with sales, and your top performers have a heavy workload, look into hiring more staff. It could be the best thing you do for your business this year.
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Remember: This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.
