Small businesses are hiring more people, but that growth is slowing down. According to the Paychex HIS Small Business Jobs Index, hiring is down .11 percent from July, marking the third decline in the index in the past four months.
James Diffley, HIS chief regional economist, was quoted in the report saying small businesses hit peak hiring levels in April.
“The index continues to show positive, long-term gains,” said Martin Mucci, president and CEO of Paychex. “That growth, however, has slowed in the past several months.”
Small business owners might be feeling a little sluggish in the hiring department due to a number of economic factors. Healthcare is expensive, salaries are expensive. Times might be tough.
But for some small businesses, growing is necessary, and sometimes, the only way to grow is to build your team. Hiring isn’t as easy, however, as throwing up a listing on Monster.com. You want to build an all-star team to help your business flourish.
If a business owner can understand the strengths of each individual, clearly explain the business’ vision and make all employees feel involved in the success of the business, he or she can hire great people.
When looking to hire, identify any early problems with existing employees. Sometimes even the best hire doesn’t fit in with the good thing you have going on at your business. It’s important to understand any negative team dynamics that could arise from hiring a really loud, rambunctious to work with some of your quieter employees.
Here are some warning signs of negative team dynamics:
- Someone who isn’t willing to work together. This one is obvious.
- Takes on too many projects. You love the willingness, but is the quality there?
- Desires too much individual recognition. You want to be supportive, but someone who demands it of you isn’t a good team player.
- Unwillingness to change. Again, you want someone to adapt to the culture you’re trying to build at your business.
But the money?
Ah, yes. The money. There’s a reason you haven’t hired anyone recently. So, how can I hire someone for less money but still guarantee great results?
- Firstly, there is no such thing as a guarantee.
- Secondly, you need to hire someone who wants to learn. Someone who has a passion for your business. Someone who loves and understands a business can learn how to run the entire show.
It falls on the owner
An all-star team is only as good as its owner. Being a manager isn’t easy. Not only are you managing dollars and cents, you’re also managing personalities.
The more you can be honest and yourself, the better you’ll be as an authoritative figure. Look for leadership class opportunities to build those personal skills.
The better you are at managing people, the better your team will perform.