5 Reasons Why Expanding Your Workforce Even on a Limited Budget is Still a Wise Move
Too many jobs for too few people. This scenario is all too familiar in the workplace flexibility and telecommunication era. The number of tasks and projects remote employees try to juggle daily can be astounding. Even with a collective work effort that cuts down on the workload, sometimes those efforts still fall short.
What should you do when you have so much work to do in just a little time and can't ask your team for help because they have jam-packed workloads? Hiring an extra hand makes perfect sense in this situation, right?
Imagine: a full-time employee focused on a specific task who will assist your team accomplish more and help you focus on more pressing matters in the company. But what if you're on a limited budget?
It’s true asking for more staff can help ease many of your burdens, but it also requires you to discuss costs. Let’s get real. Justifying the expense can be challenging, more so since many small businesses still deal with the pandemic's impacts.
However, knowing the right reasons can shift your perspective — an additional hire may also mean growth and not just another number to add to your payroll list.
Also, the key to hiring is investing in the right talent, doing it with the correct timing and goal, and ensuring an additional team member is an asset to your organization.
So, if you’re facing budget cuts, you need to be able to address this cost concern while also highlighting the benefits of hiring a new team member. Here are some tips for doing just that:
- Address workplace problems (and how a new hire can solve them)
- List down the benefits of hiring more talent
- Discover the secrets of hiring employees on a limited budget
To get started, let’s consider the gaps in your team and how a new hire might help address these issues.
Address workplace problems (and how a new hire can solve them)
1. Overworked employees
If you and your team are working at a frantic pace just to keep up with the flow of work, all of you could be at risk of burnout. While it’s great to encourage your team to give 100% daily, it’s not ideal if the reason for doing this is to try and keep an even keel.
Stressed-out employees may make mistakes that affect your business and team morale. And worse, this may result in failure to keep up with customer demand or a decrease in quality of service.
If this happens, it could be time to hire a new team member. Hiring an additional teammate will not only take the pressure off your existing employees but will also ensure that all tasks are completed to a high standard and on time.
After all, research has even shown that long work hours can be counter-productive for both individuals and companies.
2. Poor Customer Service
While customer satisfaction is every business owner's top priority, seeing complaints about waiting times or poor service is a nightmare. To avoid complaints like this, especially on low staff levels, hiring an extra pair of hands is the wise thing to do. Or would you rather wait on your customers to tell you their worse experience? We hope not.
Low staff levels can be detrimental to customer service. It can leave customers waiting too long or getting the product or service they don’t deserve.
Spread your team too thin, and they'll struggle to provide excellent service. Customers might feel frustrated and undervalued if your company doesn’t meet their expectations. They might go elsewhere, decreasing your reach and increasing your competitors' sales. Something entrepreneurs wouldn't want to happen ever.
Adding new team members can help ensure that each customer receives enough time and the highest quality of service they expect. At the end of the day, happy customers generally mean more positive feedback and potentially higher sales.
3. Limited Budget
A significant challenge for many managers is determining whether or not your company can afford to hire someone right now. Your leadership needs to know that additional staff will generate a positive return on the investment — in other words, it will help make your business more successful.
When you ask for more staff, address the same concerns around fiscal impact. This can include overtime or bonuses to compensate for long work weeks. Long-term understaffing can lead to prohibitive costs associated with turnover or cause consistent project delays that result in costly overages and harm your company’s ability to have repeat customers.
4. Impede Business Growth
Not only does being understaffed mean you have to push yourself (and your employees) to work harder than you should, but it could also be holding your business back.
Hiring new staff is not just a way to fill empty positions and better manage the workload. It's also a way to grow your business and create new opportunities. Truth be told: growth is challenging if you don’t have the support or resources to take on additional work.
A new hire could enable your company to do more and reach higher goals. They can also contribute unique skills and experience that your business lacks. Plus, they can help take some of the workloads off your shoulders so you can manage your time more efficiently and scale your enterprise.
List down the benefits of hiring more talent
1. Better Workload Redistribution
If your team has too much on its plate, hiring a new member can help. This will lighten your employee's work assignments and make it easier for them to provide high-quality work. They can then focus on essential tasks that best fit their skills, allowing them to operate more efficiently and effectively.
2. New Ideas and Perspective
New employees bring new ideas to the table, which can help your team generate more solutions to problems or develop new ways to approach existing company issues. If your team feels stuck or customers feel like you’re getting complacent, requesting more staff may help you break out of a rut.
3. Improved Service
The key to success in this area is empowering your team to do what they currently cannot. To accomplish this, you can add new skills and learnings, and bring new people in who will help your company do what it needs.
For example, your sales team may not have enough people to meet every client interested in your services, or they may be running late to meetings because everyone has back-to-back Zoom conferences. A new hire will provide the time and help needed to personalize each sales pitch and answer clients’ questions.
4. Boosted Employee Morale
It can be emotionally impactful to reduce workload, especially when your team member has been juggling multiple, different tasks that already stresses them out. Hiring additional staff can help your team relax, improve their morale and help them get back to their peak capabilities.
5. Reduced Expenses
Yes! You read that right. Hiring new talent can even lower your current expenses.
Some projects can run over budget if the team is overworked. Delays may mean that a task takes more time than you’ve predicted. Overtime pay for hourly workers can also quickly add up, eating into profit margins.
On the other hand, delays sometimes force companies to hire outside temporary help at higher rates just to satisfy the team’s immediate needs. You can minimize these costs by bringing in new team members and keeping a project’s workload in line with your team’s capabilities.
You can also note that hiring more, high-level team members means having more people to help you deliver exceptional projects and enable the company to keep current customers. Besides, customer retention is often significantly less expensive than acquiring new clients.
Discover the secrets of hiring employees on a limited budget
Hiring top-level employees on a budget seems like the art of recruiting and staffing. While cost is certainly a limiting factor in your situation, don’t let it be the only factor when making decisions about your company's future.
Remember that taking advantage of payroll savings can come back to bite you in productivity, morale, and reputation.
Using these following tips can help you make smart hiring decisions without breaking the bank.
1.Find a Recruitment Partner
Having an efficient partner in finding the right talent can help you bring your business to success. A Human Resources and Performance Management solution like MultiplyMii can find the most talented professionals and the right people for the right seats.
We work as end-to-end executive recruitment and HR solutions that also handle all HR and talent development after recruiting and onboardings so you can multiply your best results.
If you want to explore more about the A+ talent and services we offer, you can use a pricing calculator to help you get started.
2. Choose a Remote Worker
One of the perks of having remote workers is the cost savings. Even if you still need to rent an office, remote employees can hot desk, which is a big saving on space. Plus, depending on whether or not your organization is completely virtual or not, you can also save on: rent, utilities (water, electricity, Wi-Fi), building maintenance, equipment, and furniture.
By partnering with MultiplyMii, you can access the top 1% of Filipino talent. We have a pool of professionals who underwent interviews and aced assessment exams you can choose from when hiring your next team member.
Our dedicated recruiters tap an unrivaled talent pool to find the right people to help you multiply your growth.
3. Hire Filipino Talent
Filipinos are skilled, adaptable, and with excellent communication skills (verbally and written). Filipinos ranked number 18 out of 112 countries on the English Proficiency Index.
Outsourcing Filipinos can be a good way for businesses to save money. You can farm out some of the functions of your company to workers in the Philippines with the same qualifications, sometimes even more.
Also, talents from the Philippines tend to have significantly lower rates compared to those from the United States. In contrast to professionals in Western countries, many Filipino professionals ask for lower annual salaries — sometimes even 70% to 90% less — because of the country's lower cost of living.
So if you are ready to take advantage of the sizeable pool of home-based talents from the Philippines, save on operating costs, and multiply your team, your time, and your talent, let’s schedule a discovery call now.
Save big on hiring the best Filipino talent!
Is your work becoming too much to handle? Do you miss the good old days when you still had enough work-life balance? If so, then it’s time to delegate – and this is how it’s done.
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