Hiring the right staff

4/28/2011

With the economy slowly making a recovery, one of the first things entrepreneurs are looking to do is staff up. Employees were often the last thing to be cut during the recession, and now they are the first to be reacquired - after all, having more workers enables a business to significantly boost productivity.

However, employees are long-term investments and business owners need to keep that in mind as they bring aboard new help. "The last thing you want is to bring someone aboard, start doling out a salary and then have them leave. Do it a second time, to replace that person, and you could be set back thousands of dollars without gaining much in return," notes American Express OPEN Forum.

To pick the right employee, business owners need to carefully evaluate the position they are hiring for: What type of person would best suit this opening? Once they think they have that employee, they need to offer them a fair but lucrative salary to ensure they don't jump ship.

According to NDP, the unemployment rate has slowly been falling in 2011 as many companies look to expand. This is the best time to hire new employees, if a business can afford it.