Staffing and Expanding your Business

If you own a small business and would like to expand or make more money, you will likely have to employ staff to help achieve your business goals and this adds a new dimension to small business owners, staff management.  Not many small business owners that I know have completed a degree in management ( not that you need one) and once you hire staff, it really changes your own job role to be less of the “doer” and more of a manager and delegate work that you would have once done yourself.

Staff can be your biggest asset and also your biggest headache if they aren’t the right fit and they can actually cost you money in the way of lost sales or unbillable time for rework etc.

When employing a new staff member put some effort into what you actually want the role to be and set realistic expectations. If you have a potential candidate, do your due diligence on them, have a proper employment contract drafted up along with a fitting job description that lists the full tasks and responsibilities. If you don’t want to employ someone full time, you may be able to hire them as a causal or if not, you may be able to have a longer probation period up to 6 months instead of 3 months. Also, where possible, include reasonable financial targets that you as the manage can monitor the staff performance (note: not for all industries).

“It’s good to have money and the things that money can buy, but it’s good,to check up once in a while and make sure that you haven’t lost the things that money can’t buy.”Richard Branson

You can always keep on top of things with Nifty Accounting – we can help you with your Tax, BAS and payroll services, superannuation, business planning and much more.  If you are looking for a proactive accountant who works with you and your business, please contact David Cook at Nifty Accounting today.