4 Business Matters to Align Before Hiring Your First Employees

The biggest asset that any company can have is a quality and dedicated employee. This can be even more important for small businesses that need a good staff to help the company grow. While it can be very helpful to hire good staff, you need to make sure that you are prepared for them. There are four business matters that you need to align before hiring your first employees.

Mission Statement

Whenever you are going to hire a new team, you need to make sure that you have a clear vision and goal to reach. In order to reach this objective, you will need to have a clear mission statement established. When you have a clear mission statement built, it will be easy for all members of your team to know where the company is headed and how you will get there.

Before you write your company mission statement you need to know four things:

• What do you do?
• How do you do it?
• Whom do you do it for?
• What value are you bringing?

If you can’t answer these four basic questions, your company may not even be ready for bringing on employees.

Management Structure

Whenever you are going to bring on a new team, you need to make sure that you have a management structure built and established. The best way to do this is to have a clear chain of command for people to follow. You should also ensure that you have a good mentorship program in place that you can use to help build your talent. If you are unsure about your ability to lead the team and convey the mission of your company, it may be a good idea to first bring on someone who can handle people and operations for you.

HR Procedures

Before you start your first business, you also need to make sure that you have all of the HR procedures and policies in place. This will include making sure that you have a compensation system established that will be used to figure out how to pay people, what raises will look like, and how additional compensation will be determined. You need to have an onboarding system established so that employees know where to go for their unanswered questions. It’s also important to have a point of contact for other HR-related issues like harassment and discipline.

Source of Revenue or Capital

When you are trying to start hiring a team, you need to know that you are going to be able to pay their salaries. To do this, you will either need to have active customers or investor capital to rely on. It is important that you carefully review your financial records and projections to ensure you will be able to continue to pay your staff. A financial officer, whether an internal employee or external firm, can help you to determine how many people you can afford and how much you can afford to pay them.

While having quality staff is very important for any company, you do need to make sure that you are ready for your employees. Because of this, following these four tips will be extremely beneficial. Ultimately, this will keep you more organized and help you to provide a better experience for everyone that you employ.