Top Benefits of Growing Your Team
March 17, 2018 |
According to a study conducted by Office Vibe, more than 60 percent of the business owners they talked to claimed to be concerned with the cost of unfilled positions within their company. This same study found that employee turnover rate can be reduced by nearly 28 percent by investing in employer branding. Having the right team is the key to success in the world of business.
Whether you are a small business owner expanding your team of five employees to ten or the head of a corporation looking to hire hundreds of employees, preparing for the hiring process is essential. Rushing through the hiring of new employees will generally lead to a variety of problems in the future. Read below to find out why growing your team is beneficial.
Avoid Having to Tell Customers No
One of the worst things a business can tell one of their customers is that they are unable to handle a job they have. Telling a customer “no” can lead to them jumping ship and seeking out the help of your competitor. If you are constantly turning down work due to a lack of manpower, now is the time to increase the size of your team.
The money paid to a new employee will pale in comparison to the amount of money you will lose by turning down work. With an increased amount of manpower, you will be able to take on bigger and more lucrative jobs with ease.
Increase Your Level of Productivity
Are you starting to notice you have too much work and not enough time to do it? Have you run out of employees to delegate various jobs to? By hiring new team members, you can increase the overall level of productivity you have. The higher your company’s productivity level is, the more money you will ultimately be able to make.
Overworking your current staff may lead to them quitting due to the increased amount of stress they are under. Rather than losing valued team members due to them being overworked, you can add to your team by hiring new people.
Offer Your Customers a Higher Degree of Service
The main focus any business owner should have is providing their clients with the highest degree of customer service possible. When a company is short-staffed, they are unable to focus on the needs of every customer. Increasing the number of employees you have will, in turn, increase the level of service you offer.
Instead of phones ringing off the hook, these phones can be answered and time can be spent addressing the customer’s needs. A higher level of customer service will allow you to keep clients loyal and happy.
The Ability to Grow and Expand Your Business Without Reservations
For most business owners, growing their company is a priority. While growing your business is important, you may have reservations about it due to a lack of manpower. Instead of letting the size of the workforce hold you back, you need to hire more people. With a larger pool of talent working for you, growing and expanding without reservations will be easy.
Once you have hired new employees, offering them the tools they need to be successful is a must. Are you looking for online education courses for yourself or your employees? Contact Hondros College today to get more information on the courses we offer.