The Pros and Cons of Hiring Employees
Hiring an employee has both positive and negative outcomes for small businesses.
Small business owners and even freelancers, often consider hiring employees so that they can take on more work. Initially, this might seem like a great idea – their business will expand, they will make more money, and they will have additional help. Unfortunately though, there are both pros and cons for hiring employees, and we will discuss these here:
Pro: More Work Means More Money
When you work by yourself, you are limited to the hours that you can work in one day. When you have employees to help you, there are more working hours available to your business. This means that you can take on more work, make more money, and grow your business to a new level. If you are motivated to expand, employing additional workers may be the only real way that you can achieve this.
Con: Hiring Good Employees Can Be a Challenge
Unless you are experienced in recruitment, hiring good employees can be challenging, costly and time consuming. You will need to spend time and money advertising and interviewing candidates, and the best ones may require more money than your small business can afford. When you consider expanding your team, ensure that you factor in the recruitment demands into your final decision.
Pro: New Employees Can Bring New Skills and Ideas
New people come with new ideas, skills, knowledge, experiences, attitudes and personal qualities. A new employee should offer a great deal to your business, and they should be able to help you grow it in new ways. For example, a new worker who speaks different languages could take responsibility for the translation of your website content. They could provide translation services for your social media, blogs, and any incoming e-mails that you cannot handle yourself.
Con: Managing Employees Is Time Consuming
While you will be hiring an employee to increase your productivity, remember that you will need to spend time managing them and training them. Any employee who is not highly competent will require ongoing assistance, and may even make mistakes. This will require you to provide your own time towards developing them, so you will need to ask yourself if the entire process is worth it.
Pro: You Can Go On a Holiday
When you have someone to cover your work for you, or just respond to customer enquiries while you are absent, you will suddenly feel confident about going on a holiday. Many small business owners never take a break, simply because their business will fail if they do. Hiring an employee can allow you to have more free time to yourself, and give you feelings of security in knowing that your business will be safe in times of sickness or annual leave.
Con: Employees Are a Commitment
The world of business is rapidly changing, so hiring a permanent employee might not make sense. While you have lots of work today, you may not have it in a few months or years. Instead of hiring an employee, the better option might be to outsource your projects to a freelance professional.