When your construction and tradies team are feeling overworked, you might need to build your team. With payroll as one of your biggest expenses in business, you might be hesitant to add more people. However, effective hiring can be beneficial to your business.
Building your trade business
Before you hire, think whether you need a permanent, full-time employee or just a part-time, casual or contractor. Outsourcing and contracting may be ideal in some situations when workload fluctuates weekly or the task requires an expensive skills. A trusted contractor can be a long-term solution.
If you’re looking for a full-time or part-time employee, you can consult a tradies accountant or financial advisor to see if your business can still handle the extra costs. Redundancy can be costly for small businesses after all. Check if you can promote from your team. Maybe your current staff can add more value to your business through new license, accreditation, certificate or upskilling. Consider the business’ long term performance when deciding.
The right time for hiring can be tricky. You don’t want to do it too early or too late. You’ll know it’s time to hire when your team is consistently overworked, time affects the standard of your team’s work and there’s a significant skills gap that restricts business growth. Calculate the hours your employees contribute to the business. Seek the help of a business consultant or accountant to determine employee productivity and capacity. As a small business owner, you can also trust your instincts.
Building your construction business
You want to avoid frequent staff turnover because of its costs and you want to hire quality candidates. Take time and make sure you’re hiring the best candidate. Speak with tradies accountants and business consultants to guide you through your business growth.
As you look for different ways to grow and improve your business, seeking professional advice could prove to be an important and helpful decision.
You can click here to speak to a business, accounting and bookkeeping firm. We also offer hospitality business consultation and mortgage services. We will give you a call to know more about your needs. We will explain to you how we can improve your business.
We would love to help you formulate investment strategies and streamline your processes to take your business to the next level. Our goal is to help you grow your business, find ways to invest more and increase your productivity.
Phone: 1300 328 855
Office Address: 902 Howitt Street, Wendouree, Victoria 3355, Australia
Postal Address: PO Box 2234, Bakery Hill, Victoria 3354
Sky Accountants Gisborne & Macedon Ranges
Phone: 03 97444522
Office Address: 45 Hamilton Street, Gisborne, Victoria 3437, Australia
Postal Address: PO Box 270 Gisborne Victoria 3437