While it may seem counterintuitive, sometimes you need to spend money to make money. In this recession economy, finding highly qualified employees who would be happy to re-enter the workforce is easier than ever. Hiring new employees brings small businesses the ability to improve productivity, provide better quality of service, expand services, become more competitive, work more efficiently, and increase revenue. When done correctly, the long term rewards of hiring additional employees strongly outweighs the initial expense.
But how do you know if your company is ready to expand? Organizational psychologist David G. Javitch, Ph.D claims that the following indicators are telltale signs: employees are overworked, demand for your products or service is steadily increasing, you know increasing productivity will require increasing employees' skills and capabilities, and/or revenue is steady and projected to continue. Learn more about the benefits hiring can bring to a small business, the costs of not hiring, and how to know when to hire in this infographic by Intuit.