According to the Organization for Economic Co-operation and Development (OECD), the worldwide average shows that there are twice as many entrepreneurs with no employees as entrepreneurs who do have employees. But the most recent data from the U.S. Small Business Administration says that US-based small businesses continue to add more new jobs annually than large companies. So, if you’re an entrepreneur who works alone, an employee may be in your future. Here are four important things to consider before hiring.
1. Chemistry is Vital
If you’re hiring your first employee, there will be little room to hide so it’s important that you both mesh well. Make certain you're not bringing in someone with a toxic personality. Get in touch with previous employers and ask about their work style and ability to get along with others.
2. Skills Must Be Additive
If the potential employee can't do the particular job position more efficiently than you, they aren’t the best hire.
3. Don't Be Afraid to Hire the Best
There are an abundance of capable people who can do the job you’re hiring for right out of the gate. You can afford to skip subpar talent, so don’t settle for less.
4. Try Split-Test Hires
Even if the ideal candidate is twice the cost of the others, the net cost is lower due to employee retention. Companies routinely test ads and new products, so it makes perfect sense for a small business to split-test candidates.
When you're ready to hire your first employee, be sure to consider the four factors above. Your business depends on it.