Ask James Caan: I’m ready to expand — but is it the right time to take on more staff?

 
James Caan
17 September 2012

Dear James,

I started my property agency three-and-a-half years ago for people who wish to work and study language in the UK. I have a good contact base and I’m making a profit. I have one employee and I want to grow the team. Do you think this is a good time to start hiring more staff?

Adam Wojnar

Hiring staff is a huge milestone in the journey of a business. Hiring the right people will help growth. If you think there is a demand for your service, now is the right time to start growing your team.

First, ask yourself what role you are looking to hire for. Companies often commit to a new member of staff before fully evaluating what the new role will bring to the organisation.

Define the qualities and experience you expect from that position. If this is a key hire for you, work with a recruiter as they have a database of potential hires. If this isn’t an option, referrals from people in your network could present some top talent. Also, don’t underestimate the power of social media.

Small and medium-sized enterprises often lose out in the war for talent as they are unable to offer the same opportunities as a large corporation.

But SMEs can also offer other advantages over large organisations, such as a less bureaucratic working environment, and employees will have a real impact on an SME as they see the results of their hard work. If you invest in the right people, who can add value, you will definitely see growth.

James Caan's new book, Start Your Business in 7 Days, is out now.

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