Hiring Your First Employee: What You Need to Know

Why You Should Hire People From All Walks of Life 2020 - Negosentro
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Negosentro|Hiring Your First Employee: What You Need to Know|Starting your own business is an exciting but challenging experience. You have made a success of your company, and you believe that now is the time to branch out and start hiring employees to help out with tasks.

This is a major step, which may mean that you no longer have to work around the clock to get tasks completed. It also gives you someone else to bounce ideas off to boost the growth of your business.

Hiring employees can be a difficult process when you have never done it before, however, so the below tips should come in useful. 

1. Check your budget

While you may need extra assistance, it’s essential you only hire staff when you have the correct budget. Realistically, the employee should be bringing money into the business or freeing up your time so that you have room in your schedule to deal with clients.

It may take some time to work out when you have enough budget to fund wages, national insurance payments, and pension contributions. If you think you may struggle at the current time, it may be best to wait a little longer until you are financially secure.

2. Carry out background checks

Once you have found a suitable candidate, you must make sure you do the necessary background checks to ensure they’re suitable to work for you. Some of the basic checks include:

3. Define the skills and experience you require

Do you need someone who possesses a particular set of skills to manage one aspect of the business? For example, you may need someone in accounting, sales, or marketing, but you could also think more generally and hire a candidate for versatile support. Consider the level of expertise you’ll need from the candidate, especially if you’re planning on allowing them to manage their workload while you spend time out of the office running errands.

4. Employee insurance and benefits

Once you become an employer, you are legally required to take out employers’ liability insurance, which covers you for millions of dollars in the event of getting sued. If the employee becomes injured or poorly in the workplace, you’ll be covered financially to prevent you from going bankrupt. When it concerns employee benefits, you should also know the difference between FSA vs HSA. This is so that you can best advise your employees on the most suitable option for them, dependent on their individual needs. Remember, it is just as much about you making a good impression as it is them, so by offering benefits such as the right savings account, you are improving your reputation. 

5. Interviewing candidates

As soon as applications start to come through, it’s time to begin the shortlisting process to determine which of the candidates you’d like to invite for an interview. It would be an idea to carry out phone interviews or browse their social media profiles initially to get to know more about them before taking the application any further. This will prevent you from wasting valuable time when you could be focusing on more suitable candidates.