3 Ways to Determine Your Company’s Personnel Needs

If you want to grow your business, you’re going to need help. You can’t do it all yourself forever. Intrinsically, you probably know that – but – chances are you’ll underestimate just how much help you need to sustain the growth of your business.

How do you determine your staffing needs? There’s no one size fits all solution, but here are a few ideas:

Look at your Competitors

Assess a few businesses similar in size to yours, and ideally, direct competitors. Also look at larger businesses in your category, so you have an idea of how they’ve scaled. Try to determine the organizational structure of each one, and look at the different positions in the business, as well as how many positions exist. Some businesses overstaff, and some understaff; try to find a happy medium that also works with your management style.

Consider Contractors Instead

If the work you want to delegate is irregular, you might consider hiring a contractor or a virtual assistant to feel what it’s like to be a boss. Be careful, though, that you’re not breaking any laws. There’s often a fine line between who can be considered a contractor and who can be considered an employee, and you need to know the difference in order to protect your business.

Create an Organizational Chart

Even if you’re the only person working in your business, create an organizational chart with all the possible roles you’ll fill, and put that in your business plan. It will serve as a guide for your own operations, as well as show potential investors how you see your business being structured.

Another tip: don’t forget to budget at least 15% in addition to wages, to cover mandatory benefits like employment insurance.

Have you staffed your business for growth? Let us know in the comments below.

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