As a startup, it somewhat makes sense to relax on expenses that don’t necessarily need to be included at the beginning. An employee, for example, is perhaps one of the last things that a tech-influenced startup would want to invest in and it’s usually because you need to have a lot of work for an employee to do before it becomes a worthwhile investment.
If you don’t have 5 hours of work for an employee to do every day or you give them boring jobs that no one wants to do, then you might want to consider outsourcing that work instead or just doing it yourself. In addition to the regular pay you’ll be giving them, you also need to go through the process of interviewing them, doing background checks and so on. It’s a long-term investment to recruit an employee, so you need to make sure that it’s worth your time.
Taking care of employees
The first thing you have to think about when managing employees is their future. An employee that joins you at a young age could be working for your company until they retire. A lot of people don’t care about advancing up the career ladder to become a CEO or starting up their own business, they just want job security. An employee that feels like they are part of a larger plan will be content with their position and continue to be a loyal worker to you.
One good way of ensuring that an employee sticks with you is to have a 401(k) service in place for their retirement. This might be a hassle to manage even for an accountant, but you can hire a 3 38 investment manager to take care of most of the work. Not only does this plan for their future, it gives them a sense of belonging and purpose within your company that very few employers manage to give to their staff. This inspires morale, loyalty, and protects both you and your employee’s interests.
Why should I get an employee when I can outsource?
Don’t think of employees as simply disposable people that come and go from your business. When you recruit an employee, it’s for both your own sake and the sake of the company. There are times when you need a dedicated individual to work a certain part of your business and the only way for them to do that work efficiently is to be involved. You can’t expect a content creator to write about your business and your job if you aren’t actually giving them content to write about, and you aren’t going to work well with a business partner if you don’t actually meet up and work in the same office.
Outsourcing comes with many disadvantages that can be weighed up against the advantages. Sure, hiring an employee is a long-term investment and not everyone has the time or money to take advantage of that investment, but if it’s between hiring someone that has no attachment to your company to do a job and training an employee that will forever remain loyal to your business, it’s an easy decision to make.