A company is best run by employees and contractors. The need to have employees is crucial in the way a business function. In order to function effectively, productively and to produce the best results, the employees are needed to run the company successfully. Your employees and the contractors you hire are, in fact, your biggest assets. Relying solely on yourself will not just lead to a loss in productivity but will also directly affect your business negatively.
Read 7 Ways You’d Be a Fool to Cut Business Costs.
Let me explain why. Firstly, if it’s just you, then your business is limited by you, your skills and your expertise or knowledge. Adding team to the mix adds knowledge and experience. Also if it’s just you, and you get sick, or heaven forbids, actually go on holidays, then everything comes to a crashing hold. Finally, your business is limited by you and your capacity. Even if you never eat or sleep, there are only 24 hours in a day and if you are ever considering selling your business, it won’t sell (well at least) if you ARE the business.
A less number of employees may lead to diminished productivity and more workplace stress especially if you are running a growing business. Building a vibrant and a strong business requires you to increase the number of employees incrementally to handle the work stress and workload efficiently. This is especially important to determine how well the work is being done and how the work is being handled.
But the question is how do employees help the business, exactly?
Help in building relationships:
Employees are the main reason behind fostering relationships between your company and your clients. They don’t just help you create these relationships but also maintain them in the long run. Building relationships are the key to helping your business grow. The need to have employees that can actually build useful and beneficial relationships really matter as it is the key to the growth of your business.
Bring profit to the business:
Employees handle every situation that comes up in a business. Employees that are efficient in their work handle these situations with care and bring profit to your business. At times, it takes just one meeting with the client to bring a lot of profit into the business. This is why having efficient employees is necessary for the growth of your business.
Redefine your business mission:
Your employees may have some ideas that can greatly contribute positively to your business. It could be ideas that can transform your business into a profitable one. Thus, your employees can also help in a way that they help you redefine your business mission. It is important to have a business mission that can benefit your company not just in the short term but also in the long run.
This is why permanent staff employees can be greatly beneficial for your company. What about contractors then? Well, yes, they are equally as much important. Some even argue they are much more beneficial than employees. Let’s see why:
- Create a flexible workforce: Having a strong contractor base can help your business grow and shrink as you require. It is also much easier to shed contractors or contracting staff and is also much less disruptive.
- Higher skills: Contractors are usually hired by businesses for special work. These skills are not readily available from permanent staff. Contractors are also very beneficial for your business because they transfer their skills to your current team as well, making it a kind of training that you don’t even have to pay for!
- Solve short-term problems: Contractors can be hired extensively to solve your business’ short-term problems. This is especially important if you are cutting costs and reducing the number of employees, so in order to get the work done, you can hire contractors.
- Much cheaper than consulting companies: Hiring consulting companies can be a rather cost-effective and strategic plan. On the other hand, contractors are much more flexible in terms of time and also costs. They can be a lot more cheaply compared to consulting companies. Contractors are also easily persuaded by the market trends and prices as well.
- Speed of talent asset: Contractors can do almost any job. It is also extremely easy to hire contractors as they are readily available and so there is a pool of talent. They can do almost anything from sorting databases to every other little to big jobs that a business would typically require.
- Come in and get the job done: Contractors easily come in and get the job done in a jiffy. They are available readily and contractors are present to get almost any job done, in this generation. Contractors even come into some businesses and make certain decisions, like identifying areas within the business that are overstaffed and many other tough decisions.
Contractors are a strategic way to run the business. They help you get the short term work done quickly and efficiently. This is why having employees and contractors are extremely important for your business. You alone cannot run your business, as this would suffocate your business with the amount of workload and work stress. A growing business needs to incrementally increase the number of employees and contractors being hired.
For more business tips, email me at donna@donna-stone.com.au or call 0411 622 666.
