How to tell if you need more staff
How’s your team at the moment? Are your staff happy? Productive? Managing staff is a huge part of any business. Your people can be your biggest asset. But what happens when you feel they might be holding you back from growth?
Hopefully you will have already invested time and effort in getting the right people for your business. But do you have the right number of them? For any business looking to grow, at some point you’re going to have to consider staffing up. But how can you tell when is the right time?
Here are a few tell-tale signs that you might need to re-think your staffing levels
Employee satisfaction is low
When people feel overworked, it starts to show. Stress levels rise, complaints go up, and overall productivity will suffer. If staff feel they have too much work to do, they’ll soon be letting you know – either by complaining, or leaving!
Sales are on the up
If business is going well and targets are being met, you should be seeing growth in the sale of your product or service. To continue this curve and keep on growing, there will come a tipping point when you need to scale up the size of the team delivering the growth too.
There’s a new opportunity
Business which succeed are always looking for the next opportunity. If you’ve identified a new revenue stream, or area to generate growth for your business, you’ll want to jump on it. But your current team might not have the capacity to take on the additional work
You see a skills gap
Even if your current team are performing well, a good leader will be able to identify where there are areas to improve. This might be developing skill sets for existing employees, by investing in training or mentoring. Alternatively, there might be a way to boost profit by bringing certain skills which you currently outsource in house, and increase your overall headcount.
Is this you?
If any of the above sound familiar, you might need to think about increasing your staffing level. For any ambitious business who is looking to grow, this can be a real crunch point. What happens if you know you need to scale up, but don’t have the funds to do it?
Knowing where and when to invest is key. If you’re chasing new sales, you’ll likely need more staff to deliver the numbers. But the issue often is that in order to do this, you need to spend on the team BEFORE you see the extra revenue come back in. Likewise with scaling up back office operations or infrastructure. This funding gap can limit or even stall your growth plans.
I work with all kinds of businesses at this point to bridge the gap. If you have a clear vision for your company growth, and can build a strong projection for how upping your staff levels can get you there, talk to me about finding the right finance to deliver your plans.
If you want to see change, you’re not going to get it by standing still. Get in touch, and let’s see if I can unlock the next level of growth for your business!