To Hire Or Not To Hire: How To Maximize ROI For Every Hire

Sometimes, getting a new hire creates more problems than solutions. That’s why it’s important to assess whether the timing is right for you to hire new team members.

 

Ever seen one of the gorgeous closets organized by The Home Edit team?

It’s amazing how everything is perfectly displayed in a spot specifically designated for an item. A place for everything… everything in its place.

It’s a dream!

But if you’ve ever watched their show on Netflix, then you know each of those closets didn’t start in that state. In fact, the closets get a little messier before it gets better. 

People throw away some stuff, donate others, and only keep what lights them up.

But one thing’s for sure: you wouldn’t want to buy new things for your closet until you’ve done this organizing work. 

Well, the same concept applies to your team.

Whenever things feel a bit too busy or a bit too hectic in the workplace, you might think a new hire will magically make things better. 

However, you might have some cleaning up to do first! 

Perhaps, you just need to make sure your existing team members are maximized and efficient before deciding to bring on more people.

If you want more tips on how to determine whether it’s the right time for a new hire… 

And on how to maximize your ROI for every hire…

Then, keep reading.

 

To Hire or Not To Hire?

I was recently coaching a client inside of Well-Oiled Operations™. 

Her name is Shelby Grassman and she owns a restaurant, motel, and RV Park. Now, she wanted to hire two new people for her team. But she was worried she didn’t have enough money to do so.

So, the first thing I asked was what positions she needed to be filled by the persons she wanted to hire. She told me she wanted to hire social media managers because she felt like social media management always took up too much of her time. 

But here’s the thing. Even if Shelby did hire a social media manager, she’d still be the one to cook the dishes and take photos of them. See, she’s really good at photography. And that’s part of the reason her business attracts so much interest on social media. 

In other words, all her “new hire” would have to do is post the pictures on social media. Frankly, that was a job that could be done by the people currently working for her.

So, I just asked Shelby what made things heavy for her. She said it was the constant need to make and photograph new dishes daily. 

But what if you took an entire day to make several dishes, photograph all of them in one day, and drip them out on social media? If you created a content bank of all those images so one of your team members could post one each day, would it fix your problem?

Shelby said yes.

And once she discovered a more efficient strategy on social media, she realized there wasn’t a lot left to do… and certainly not enough for her to create a new position. 

See?

This is why it’s important to maximize the efficiency of your business first before coming up with a decision to hire… or not hire someone new.

But how exactly will you know if your existing talent can do the job you want to hire for?

 

3 Questions to Ask to Check if You Have the Right Person For the Job

The first step in the process is to assess your current team members. See if anyone’s a good fit for the position you’re thinking of opening up.

If you’ve ever read the book ‘Traction,’ then you’re already familiar with the G.W.C. activity. It’s a handy tool for assessing each person in your current talent pool and asking:

  • Do they get it?

That is, do they understand what you are asking of them?

  • Do they want it?

Are they driven? Does this job light them up or is it just another means for them to pay their bills?

  • Are they capable?

Does this job fall outside of their skillset? And if so, can it be learned?

You want to make sure each person on your team that you’re considering for the new position has all three. 

Now, just a word to the wise: I’ve been doing this long enough to know you probably have people in your team who don’t have all three. And if someone doesn’t tick all of these boxes, it needs to be addressed. 

Firing someone is never fun… but you have a business to run. 

And if you want it to become a Well-Oiled Operation™, it’s a strategy you better start learning and getting good at. After all, there are just too many times you can move talent to a different role or a different position. 

Sometimes, you must concede that they aren’t a right fit for the organization. This way, you can start running a tight ship. 

The point is this:

Before you ever hire anyone new, make sure to offer more work to your existing rockstars. 

It’s so much easier to give more work to someone you already love working with than it is to find and train someone new. 

 

Maximize the ROI for Every Hire

Paying your team leads to one of the biggest expenses you’ll incur in your business every single month. 

And while most business owners try to solve their problems by making a new hire, you now know the first step is to maximize the talent you already have on your team. This ensures that you’re also making the most of your previous hires… and maximizing your ROI on each of them!

Now, if you’re still not sure whether you need to hire someone new… 

Or if there’s still a way you can maximize your current talent pool…

Schedule a free strategy session with one of our scale specialists. 

Book a call here: www.stacytuschl.com/call.