Every startup needs right talent for its growth. But, before you start hiring your first employee, have you ever thought about how the candidate can be a success for your company? Well, making a rapid hiring decision is not always the best decision, while the startup is just in its initial phase. Such a company has limited resources and it is very important to utilize them well. Thus, most of the recruitment consultants state that hiring employees for small businesses in a very premature way can lead to lethal results.
In simple words, hiring is not something that a startup must be obsessed about. You might be very passionate to come up with something unique in the market, but, you may not realize what blunders you may be committing by making wrong hiring decisions.
Major Facts/ Problems
Now, you must understand that bulk candidate hiring for any industry or business is not the problem. The problem lies when the hiring is done at the wrong time, without proper research, and in a haste manner. Here are some of the problems or facts related to the startup business owners –
a) Tendency to Hire Short Term Employees
Most of the startup business owners have a tendency to hire short term employees, even before the product gets fit in the target market. Just during the phase of the product launch, how can you be so sure about the type of employees you need or how can you assume that the hired personnel will help you outrun the competitors? This will only lead to the hiring of misfits.
b) Negligence of Overhead
Do you know what is the cost of hiring a new employee in India and abroad? According to human resource consultants, hiring a good employee is not just about finding skill sets and experience levels, it is also about ensuring that the person fits in your budget with all the necessary skills in him. However, what most startups do is that they forget the fact that hiring is also a kind of an increased overhead cost for business.
c) More Employees, More Risks
For a startup in its initial phase, especially, it is said that more the number of employees, more will be the number of risks involved. The basic reason behind this is that when the employees will start working in a team, there may be few conflicts among few of them regarding the output, time involved, work efficiency and others. Eventually, the conflicts get bigger and start ruining the output. At this situation, you’ll be left out with mess and only mess.
d) Expenditure Rate
Often, out of passion to work with a huge dedicated team, the businesses overlook the increasing rate of expenditure. You will have to pay not just salaries, but also handle the expenses related to bulk internet connection, big office, ample amount of parking space, power backups, security, candidate placement for accounts, policy making, book keeping and others. All of these are genuine expenses that are bound to happen, if you make haste with the hiring.
So… Hire, But At the Right Time!!
You are a business owner and to grow your business, it is important to hire talented employees. But, understanding the right time for hiring is the most important thing for an employer. So, it is suggested that you must make your first move in the market, observe its results, plan the next plan of action and depending on your needs, hire the employees in a very limited amount. Slowly and steadily, as your business grows, you can increase the number of employees.
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